Online Account Opening

1. What information do I need to begin my online application?
We’ll ask you and your co-applicant (if applicable) to provide personal information such as Social Security Number, driver’s license or state-issued ID number, contact information (name, address, phone number and email) and account funding information.

2. What is a joint account?
A joint account is held by more than one person with each individual having the right to deposit and withdraw funds. The joint applicants are required to provide personal information including their Social Security number, driver's license number, and state of issuance, issue and expiration date. The primary applicant is responsible for any tax ramifications related to the joint account. Persons under 18 years of age cannot open an individual account.

3. Why is my email address needed?
We ask for your email address to communicate with you regarding your application. Please note that WSFS Bank will never ask for your personal information such as your Social Security number or account or card numbers via email.

4. Why do I need to provide my occupation?
By providing your occupation, you are helping WSFS Bank understand who we serve by describing your organizational responsibilities or listing your job title.

5. What is an electronic transfer?
Electronic transfer is a method used to fund your new WSFS Bank account via an existing non-WSFS Bank account. This is accomplished by providing a routing number and account number from an existing checking or savings account.

6. What is backup withholding?
Backup withholding is a tax levied on investment income. Backup withholding may be applied when an investor has not met rules regarding taxpayer identification numbers (TIN).

7. Need help locating your verification code?
The requested verification code was supplied to you in an email from WSFS Bank with the subject "Your New WSFS Bank Account." Please note that the verification code is case sensitive and should be entered in all caps. If you no longer have this information, please contact us at 888.WSFS BANK (888.643.3477) for assistance.

8. How can I find my security code (CVV)?
The security code (CVV) is located on the back of your WSFS Bank debit or credit card. The requested code is the final three digits listed.

9. How can I find my last statement balance?
Your last statement balance is the Ending Balance on your most recent statement.

10. What is my note number?
Your note number is the three-digit number following your six-digit loan account number. For example, if your loan number is 100100-100, your note number is 100.

11. What is my original principal amount?
Your original principal amount is the original amount of your loan.

12. What is an internal transfer?
An internal transfer gives you the opportunity to open a new WSFS Bank account using funds from an existing WSFS Bank checking, savings or money market account.

13. What if my information is incorrect?
Please call 1-888-WSFSBANK or 302-792-6000 from 7:00 a.m. – 7:00 p.m. Monday – Friday and 9:00 a.m. – 3:00 p.m. on Saturday and Sunday to update any incorrect information.

14. What is an external account authorization?
External account authorization is your approval for WSFS Bank to debit your existing bank account at another bank to fund your new WSFS Bank account.

15. How is my personal information used?
Your information is securely stored on your account and customer records once your new account is opened. To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

16. How can I speed up my application?
If you already have an account with us, we can automatically fill out parts of your application using the information you provided when you opened your WSFS Bank debit card account or deposit account (excludes CDs) or loan account. Please note: we will still need your Social Security number for identification.

17. Which owner type should I choose?
If you will be the only owner on the account, select "Individual." If you want to add a co-owner to the account, select "Joint."

18. Why do I need to review and accept disclosures?
Disclosures contain important terms and conditions that apply to your new account. Reviewing and accepting these disclosures ensures that you are well informed about your new account.

19. Why do I need to answer questions to confirm my identity?
Answering additional security questions allow us to confirm your identity and ensure that no one else can open an account in your name. This additional layer of security helps protect you against identity fraud.

20. Why are you asking me about how I expect to use my new account?
Bank regulations require us to collect Customer’s expectation of transactional behavior in order to determine risk levels in terms of money laundering, terrorist finance, and identity theft.

21. What is an ACH transfer?
Automated Clearing House (ACH) is a network that electronically processes transactions for WSFS and other banks. These transfers typically take a few business days to process and for the money to be available in the receiving account. When you transfer funds from an account at one bank to an account at another bank over the internet or when you pay a bill online you are likely completing an ACH transfer. An ACH transfer is the most common form of electronic money movement.

22. What is a wire transfer?
A wire transfer is a form of electronic money movement that moves the money real-time from the sending account to the receiving account at another bank. These types of transfers are less common and often require you to pay a fee and interact directly with a person at the bank either in in person or over the phone.