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Nationwide Bank

Nationwide Bank Reviews

6.8

No fee checking and savings accounts

Written by Bob Phillips

About Nationwide Bank | Read More

LS Score

Credibility

Support

Accessibility

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Opening Hours

Mon-Fri 8am-8pm EST

Sat-Sun Closed

Contact Information

1-800-882-2822
Headquarters: One Nationwide Plaza Columbus, Ohio 43215-2220

Social Media

LS Score

Credibility

Support

Accessibility

Visit Site

Opening Hours

Mon-Fri 8am-8pm EST

Sat-Sun Closed

Contact Information

1-800-882-2822
Headquarters: One Nationwide Plaza Columbus, Ohio 43215-2220

Social Media

Nationwide Bank Online Banking Review

Nationwide has been in business since 2000 and it has developed quite the reputation over the years. A lot of its banking services are now provided by Axos Bank, which is no bad thing. Through this partnership, people have a great range of different types of online account options, include interest checking and high-yield savings accounts.

Nationwide is also known for having a low-cost structure, some decent APY rates, and a big network of ATMs across the United States. This Nationwide Bank review will consider all notable aspects of this offering.

Network of 80,000+ ATMs across the United States
Good APY rates for certain accounts
No monthly fees for some account types

Nationwide Bank Online Banking Highlight

$50

Min Balance

$500

Min Deposit

$25

Overdraft Fees

Yes

Other Fees

Online Banking Savings

Min 0.2%

Min APY Savings

Online Banking Checking

$100

Min Deposit

$98

Min Balance

Max 0.3%

Min APY Checking

Pros & Cons

Great selection of account types
Low-cost account options
APY Rates are top-tier

CD APY Rates lower than standard

Account types

Checking
Savings
Certificates of Deposit (CD)

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Account Types

You will come across a number of different interesting online account options from Nationwide through its partnership with Axos Bank. This collection will cover everything from checking accounts to savings and certificate of deposit accounts. We have broken down each of the standout account types for you in the Nationwide Bank online account review, making it easier to see which might be a good fit for you.

Advantage Checking

This checking account offers great interest rates from 0.45% and up to 0.90% on your funds, which means that you can make your money work for you more so than with a lot of other types of checking accounts. The exact APY rate depends on how much you are depositing to this account on a monthly basis.

There are no fees for overdraft or when you have insufficient funds in your account, as well as monthly fees not being an issue. There is also no minimum balance that you are required to maintain and you will get access to 80,000+ ATMs across the United States. Finally, the opening required balance is just $50.

Account Type	Key Features
Advantage Checking	Opening balance of $50
	No account fees
	APY rate up to 0.90%

Interest Checking

This is another type of checking account that allows you to earn interest on your funds. You don’t have to pay any account maintenance fees for this type of account and there is no need to keep a minimum sum in your account. The APY rate starts from 0.10% and goes up to 0.40% for sums of more than $25,000.

You can get access to complimentary checks when starting off and you will be able to get a refund on out-of-network ATMs fees up to $30 each month. Finally, the direct deposit feature allows you to speed up payments.

Account Type	Key Features
Interest Checking	Complimentary checks
	No account fees
	APY rate up to 0.40%

My Checking

This is a checking account that is designed to fit around your specific banking needs. It is ideal for those people who are going to be using a variety of different features. You will need to open this account with at least $100 and you will then have access to the full suite of different online banking tools.

There is no limit on the ATM fee reimbursements and there is no monthly fee that you have to pay for this account. You also are not required to maintain a minimum balance. One of the reasons why many people go for this account type is because it gives you the ability to get your paycheck as many as two days early.

Account Type	Key Features
My Checking	$100 opening balance
	No monthly maintenance fee
	80,000+ no-fee ATMs

Regular Savings

For those people who are looking to maximize their savings, then this is a good account option for you. This allows you to get access to an APY of up to 0.50%, which is good by industry standards. The minimum daily balance requirement is only $300 and you get access to many great online banking tools.

There is a $3 monthly maintenance fee, but this can be waived if you maintain the minimum daily balance. You are able to request a free ATM card, as well as get access to a streamlined payments system.

Account Type	Key Features
Regular Savings	$300 minimum daily average balance
	$3 monthly maintenance fee is waivable
	APY up to 0.50%

My Savings

The My Savings account gives you access to a higher APY, with rates reaching as high as 0.70%. You will often need to deposit a certain amount each month in order to get the higher APY rates.

There is no need to maintain a minimum account balance and you just have to deposit $100 when starting off this account. You also do not have to pay any monthly fees and you get access to all of the standard digital banking tools.

Account Type	Key Features
My Savings	Opening balance of $100
	No account fees
	APY rates up to 0.70%

Certificate of Deposit

Nationwide offers you access to CDs of varying time periods. These start from as short a three months and go up to five years. The APY rate for each time period is currently set at 0.20%. While these are not as high as some competitors, the short-term lengths are often preferred.

These funds are also subject to FDIC insurance up to $250,000 and there is only a $500 minimum deposit necessary to start. The CDs will renew automatically when their time period comes to an end, but you do have a 10-day grace period to make changes without incurring hefty fees.

Account Type	Key Features
Certificate of Deposit	3 months to five-year terms
	$500 minimum deposit
	Automatic renewal

Money Market Plus

This account type is an ideal fit for those people who are seeking the security that a savings account provides, while also promising higher returns. Across the board, you can get an APY of 0.50% with this account type.

The funds are FDIC-insured and you can get complimentary checks when starting off this new account. There will be a waiving of the $8 monthly maintenance fee if your minimum daily balance is $1,000 or more. You will also have to deposit $1,000 or more when starting off this account.

Account Type	Key Features
Money Market Plus	APY rate up to 0.50%
	No account fees if $1,000 minimum daily balance
	$1,000 minimum opening balance

State Availability

- Available in all states

Written by Bob Phillips

Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.

FAQ’s

What is the minimum amount needed to open a Nationwide basic checking account?

Nationwide Bank offers an account called the Nationwide My Checking Account that requires a minimum initial deposit of $100.

Is my money FDIC insured with Nationwide Bank?

Yes, your money is FDIC insured with Nationwide Bank through Axos Bank up to $250,000 per depositor.

Can I use a debit card with my Nationwide account anywhere in the U.S.?

Nationwide Bank customers can use ATMs anywhere in the U.S. Fees may apply depending on which type of account you have with Nationwide Bank.

Customer Support

Nationwide Bank customer support information is difficult to find online. Contact information cannot be found on the Nationwide Bank website. Instead, customers need to search online to find the phone number from third-party sources or call Nationwide Insurance Company’s customer support line to be given the number. They do have an online form you can submit for inquiries, though.

When calling the customer support number, we encountered the usual number of phone options to navigate through and an average hold time.

In Conclusion

Nationwide Bank has a great name behind it and offers a wide variety of online banking services, but it comes up short regarding support and accessibility.

The bank is well-suited to meet the diverse needs of individuals and businesses. Overall, the bank’s reputation for stability and trustworthiness make it a solid choice for anyone looking for a reliable and secure banking partner.

Brand Disclaimer

Nationwide’s relationship with Axos Bank gives Nationwide members access to Axos Bank’s banking products and services. All banking products and services are solely offered and provided by Axos BankTM. Axos Bank is a federally chartered savings bank, and all deposit accounts opened with Axos Bank, including those of the same ownership and / or vesting held at Axos Bank, are combined and insured by the FDIC under the same  FDIC Certificate 35546.  Click here for more information about Axos Bank.

Nationwide and Axos have engaged in a limited marketing relationship, where Axos Bank may make special offers to Nationwide members. Nationwide is not a bank or a lender and is not affiliated with Axos Bank or any other bank, except through this limited arrangement. Nationwide does not take applications, offer, negotiate, arrange or make loans or accept deposits from the public. Nationwide does not guarantee any products or services offered by Axos Bank. Nationwide does not endorse and is not responsible for any of the activities of Axos Bank. Nationwide receives a fee from Axos Bank for its marketing and advertising efforts arising from this relationship with Axos Bank, although for certain of these products (such as any deposits or CDs you may open with Axos) Nationwide will not receive any such fees. Any fees paid to Nationwide by Axos Bank for these marketing activities will not result in increased fees for the products or services Nationwide members receive from Axos Bank.

Programs (including, without limit, fees, rates and features) are subject to change without notice. Specific costs or fees for a banking product or service received from Axos Bank may apply and will be provided in a separate disclosure to you.