LAST UPDATED: April 9th, 2021
Nationwide has been in business for more than 85 years, and prides itself on earning consistently high ratings and ranking from major ratings agencies. In 2013, this Fortune 100 company banked $23.9 billion worth of operating revenue.
- Benefits of Nationwide
- Tools and resources
- Features and services
Benefits of Nationwide
Nationwide is an online bank for those who appreciate hearing 'no'. No monthly fees, no ATM surcharges and no minimum balance required. Nationwide does say yes to direct deposit, online bill pay and a free Visa debit card. With over 76,000 ATMs nationwide, locating a close location to grab some cash shouldn't be too difficult.
Tools and Resources
The Nationwide site has a variety of tools and calculators. They have made an effort to make sure that you have the calculator needed for you financial situation. You can find savings calculators, general loan calculators, personal debt calculators, auto loan calculators, home equity loans and lines calculators, mortgage calculators, and credit card calculators. Other online banking basics include:
- ATM network
- Online bill pay
- Direct deposit
- Paperless option with eStatements
Features and Services
With the Nationwide Bank Visa Buxx Card, teens can learn to spend responsibly, all while parents can keep an eye on, and temporary stop, their spending. Parental controls can be set up. Other benefits that all Nationwide bank consumers can enjoy include:
- Mobile banking: manage checking, savings, or money market accounts from phone or iPad
- The Bank Note: the newsletter that helps consumers spend and save
- Get lower mortgage rates: Nationwide offers low rates for fixed, adjustable, and refinance mortgage loans.
Nationwide has an active presence on social media and they advertise constantly. Their Facebook profile and Twitter feed is updated and they even have a youtube account where you can watch the latest Nationwide commercial or an informational video about finances. Overall, Nationwide has made themselves widely accessible to the public.
- Limited tax preparation
- ATM issues
Nationwide does set new online banking customers up with some freebies, but not as many as other online banks. The account is only free of maintenance fees if direct deposit is set up, and if the card is used a set amount of times each month.
Limited Tax Preparation
There are overdraft fees on their checking account. The fees are not as big as their competition and they are only applied once a day for each time that you go over but it is still something you should be aware of. Also, Nationwide Bank offers tax preparation services. However, they are relatively limited. The only tools offer include:
- Forms to expect during tax season
- E-File vs. Paper Tax Returns
You should be aware of the ATM situation that Nationwide has set up. They are part of the AllPoint network which is the same network that Simple bank uses. These ATMs are free but if you use an ATM that is not part of the nationwide network the bank that owns the ATM could charge you a fee. The first 6 ATM withdrawals in a month are free but after that Nationwide will start to charge $1.50 for each transaction.
The Bottom Line
Nationwide bank speaks volumes in stability and strength, based on its' numerous operating period and billion- dollar revenue intake. While it doesn't offer completely free online checking and savings, most customers will meet the specifications that allow access to the remaining free items. All in all, Nationwide Bank ranks high in online banking. Those that use Nationwide Bank can expect the following from the service:
- Competitive interest rates
- Quality online banking services
- Limited tax preparation
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