What is Nationwide Bank?
In our Nationwide Bank Review we found out that it was established in 1998 as part of the Nationwide Trust Company and began providing banking products to the public in 2007. While most people automatically associate Nationwide with Insurance, their new banking products offer a lot of excellent benefits. Nationwide provides insurance, investments and competitive interest rates on accounts including savings accounts, money market accounts and CD’s. They also offer credit cards, auto loans and mortgages.
Our Nationwide Bank Review uncovered that they are much more than just insurance and that they offer a variety of different accounts. This allows you to choose the best account for your personal banking needs. Here are some of the benefits of banking with Nationwide.
- Nationwide’s E-checking account offers higher interest rate than other checking accounts.
- Has over 76,000 free surcharge ATMs around the country
- Free transfers from Nationwide accounts and other accounts.
- Nationwide offers e-statements. Access to those statements is available anytime.
- Offers competitive interest rates on all of their accounts.
- You will receive a $200 new customer bonus when opening up a checking account.
Nationwide continues to offer competitive interest rates on the different accounts they offer. In 2011, 2012 and 2013 they earned Bankrate.com’s Top-Tier award for consistently offering top-tier APYs. Nationwide offers a variety of different accounts including three different checking accounts allowing you to find the perfect account for your needs.
Our Nationwide Bank Review has also found some caveats to their services. Here are a few negative aspects to banking with Nationwide you should be informed of.
- Their monthly service fees are a little higher than other banks.
- To avoid monthly service fees you must keep a certain balance in the different accounts. Some accounts require you to do more than one thing to avoid the monthly service fee or have a substantial amount in the accounts.
- The minimum amount to open a basic savings account is $50.
- Depending on the account you choose, it could be necessary to open a savings account as well to act as overdraft protection.
Is Nationwide on Your Side?
To conclude our Nationwide Bank Review consider the following. The interest rates offered by Nationwide Bank are competitive, but smaller than interest rates offered through larger online banks. If you are chasing interest rates to grow your savings, pass up Nationwide Bank for one with beneficial product offerings. Nationwide does offer higher interest rates on checking accounts, which could work in your favor if you find an account you want.
As with all banking accounts, doing your research to find the best option available and weighing the positive compared to the negative is necessary.
P.O. Box 182049
Columbus, Ohio 43218-2049
Customer Service Number