-
Financial Rates:
5.0
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Customer Service:
3.0
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Website Experience:
5.0
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Bank Fees:
4.0
Pros:
- Chief Customer Advocates on your side
- Free ATM transactions
- Earn cash back on debit transactions
- Low minimum opening account amount
Cons:
- Popmoney has fees and isn't instant
- High deposit needed to open CDs
- No credit cards or prepaid cards offered
- Fee for dormant accounts
What You Need to Know
If you have a question, the Chief Customer Advocate is there to help. This person works with the CEO of Nationwide to ensure the customer's needs are being met. If you have a policy problem or a question about a statement, call the Chief Customer Advocate.
Nationwide customers can make eight transactions at any ATMs each billing cycle. Nationwide will not charge you a fee, but the ATM owner might. If you are a premier member, you get unlimited ATM transactions without fees. To be a premier member, you must have another bank account, loan, credit card, or an insurance policy with Nationwide. There are over 77,000 surcharge-free ATMs.
As a premier member, you earn cash back on your debit card purchases. If you use your debit card for at least $1,200 in purchases each month, you will earn 0.25% on those purchases. The reward cap is $20 per month. This reward will not start until your account is active for 180 days.
Opening a savings or checking account with Nationwide only requires $25. You start earning competitive interest rates with the $25 you deposit to open the account.
Nationwide uses Popmoney to transfer money between people. Money transferred with Popmoney is not instant. The delivery takes three business days. If you want the money sent instantly, it will cost $0.25 per transaction. Each transfer must be at least $5.
To open a CD, you must have at least $500. Once you open an account, you can choose from three month to five-year CDs.
Nationwide does not offer credit cards or prepaid cards anymore. If you already have a prepaid card, you can use it until the money is gone, but you cannot reload money onto it. If you currently have a credit card with Nationwide, you can use it as normal, but Nationwide is no longer taking credit card applications.
There is a fee if you do not use your checking account for 365 consecutive days. On the 366th day, a $5 fee will be charged. Each month the account is not active will have a $5 fee. To avoid the fee, sign up for direct deposit.
Cool Things
Competitive Interest Rates
Nationwide is an online bank. They offer competitive interest rates on their accounts. Savings account and checking accounts earn interest higher than other banks.
Pet Insurance
Nationwide offers insurance policies for your pets. There are a few different plans to choose from, ranging in price from $22 to $64 a month. Your pet will not lose insurance because of age or number of claims filed. If you are a Nationwide member, you can save 5% on your pet insurance policy.
Text and Mobile Banking
Manage your accounts through the app or text message. The app allows you to deposit or transfer money, check your balances, pay bills, or search for ATMs. Through text, you can know your balance, transaction history, or find an ATM.
Holiday Club Savings Account
Open your holiday account anytime with no minimum opening balance. This account matures in October. In the middle of October, you can have the money mailed or deposited into another account. You can make deposits to the account or sign up for direct deposit. The account stays open after maturity to build money for next year. This account earns interest, but not as much as other Nationwide accounts.
Extra Resources
Nationwide has videos and articles to teach you. You can learn about emergency funds, CD laddering, online bill pay, or money transfers. You can also know exact balances with their financial calculators.
History
In 1925 Murray D. Lincoln opened 'Farm Bureau Mutual,' an auto insurance company. Their goal was to provide quality auto insurance rates for farmers in Ohio. In 1928 the company expanded into West Virginia, Maryland, Delaware, Vermont, and North Carolina. They started offering motorcycle and property insurance in 1934.
In 1955 the company name changed to Nationwide Insurance and had expanded to 20 other states. Nationwide waited 40 years before deciding to add a financial side to their company. Nationwide financial went public in 1997. It was not until 2007 that Nationwide bank opened to the public.
Today Nationwide is a Fortune 100 company. They offer insurance and banking needs all across the country. They are one of the largest insurance and financial companies in the world. They have more than $158 billion in statutory assets.
Nationwide has sponsored PGA tours, NASCAR, and National Hockey Leagues. In 2000 Nationwide Arena opened as the official NHL stadium of the Columbus Blue Jackets. They also co-sponsored Jack Hanna's "Into the Wild" TV show and speaking tour.
Awards and Recognition
- "Top Ten Best CD Accounts of 2016" by gobankingrates.com
- "50 Best Workplaces for Diversity" by Fortune Magazine
- "Top Ten Best Online Banks of 2016" by gobankingrates.com
- "2017 Top Veteran-Friendly Company" by U.S. Veterans Magazine
Giving Back
In 2007 Columbus Children's Hospital was rededicated to be Nationwide Children's Hospital. The name change was in honor of a $50 million donation to the hospital.
Since 1944, Nationwide associates have donated around 14,000 pints of blood each year. The Nationwide Foundation has donated over $14.3 million to the American Red Cross disaster relief.
Nationwide partnered with Feeding American in 2009. Since then, associates of Nationwide have helped raise more than 37 million meals. They support local food banks, including the Mid-Ohio Foodbank.
In 1960 the Nationwide Foundation began matching contributions for the United Way. Nationwide associates, partners, and retirees have raised over $127 million. Nationwide executives volunteer on community projects and serve on United Way boards.
Frequently Asked Questions
Yes. Nationwide is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.
By debit card, checks, free online bill pay, ATMs, cash back transactions, and transfers between Nationwide accounts. You can connect your Nationwide account to your current bank accounts and transfer money between accounts. Money can be sent, received, or requested through Popmoney.
Yes. You can access your accounts from any smartphone, tablet or computer. In the app, you can deposit money, track spending, and transfer money between accounts. You can also send or receive money with Popmoney.
Checking account and CDs are free. The money market account has an $8 monthly maintenance fee if you do not keep at least $1,000 in the account. The savings account has a $3 monthly maintenance fee. Waive that fee by having at least $300 in the account.
Yes. Nationwide offers a checking account with competitive interest rates. They take customer service serious and keep your money and information secure.
Yes. Nationwide is FDIC insured. They protect your information by multi-factor authentication, firewall layers, and encrypting information. They train employees to keep your information secure.
Yes. Their checking accounts offer competitive interest rates. Money market accounts and CDs offer similar interest rates to other banks. The more money you invest, the higher interest rates you receive.
Yes. Nationwide offers a small banking checking account. Their business money market and CD accounts do not offer higher interest rates.
Nationwide offers an interest-earning checking account.
Yes. Nationwide's checking account offers competitive interest rates. Checking accounts earn cash back rewards when you make $1,200 in debit card transactions.
By phone, email, or mail. There is a branch in Columbus and Grandview Heights, Ohio.
Yes. Bill pay is free with every interest checking account.
No. Nationwide is an online bank. You can make deposits through the app, direct deposit, or transfer money between accounts.
Transfers between Nationwide accounts are immediate. Transfers between Nationwide accounts and other bank accounts take 1-2 business days. People-to-people payments through Popmoney take three business days. To have instant Popmoney transactions, there is a $0.25 charge per transaction.
Yes. Direct deposit is a good way to avoid the dormant account fee.
Bank Information
Nationwide BankP.O. Box 182049
Columbus, Ohio 43218-2049
1-877-422-6569
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.