Nationwide banking review: Free checking account with unlimited domestic ATM fee reimbursements

Nationwide offers savings accounts, checking accounts, CDs, and money market accounts through its relationship with Axos Bank. Nationwide

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The bottom line: Nationwide offers solid online banking products operated by Axos Bank. These accounts might ideal if you want to avoid monthly maintenance fees. But if you're looking for competitive interest rates on savings accounts or money market accounts, other online banks may be better options.

Overall banking rating

Pros and cons

Nationwide My Savings Account

You may like the Nationwide My Savings Account if you prioritize a savings account that doesn't have minimum balance requirements or monthly maintenance fees. 

The Nationwide My Savings Account has a solid interest rate on par with the average savings account. However, if you're searching for accounts with a higher interest rate, consider going through our best high-yield savings account guide.

Nationwide My Checking Account

The Nationwide My Checking Account might stand out if you frequently use ATMs. If you use out-of-network ATMs, you'll receive unlimited domestic ATM fee reimbursements. 

The Nationwide My Checking Account is also a solid bank account for avoiding standard bank fees; it doesn't charge monthly services fees and offers overdraft protection that links your checking account to a Nationwide savings account.

Nationwide CD

Nationwide CDs have a $500 minimum opening deposit, which is less than the typical $1,000 initial deposit required by most banks and credit unions.

You also might find these CDs appealing if you're specifically looking for a 1-year CD or 18-month CD. The 1-year CD pays 2.80% APY, and the 18-month CD offers 2.85% APY.

Nationwide Money Market Plus Account

The Nationwide Money Market Plus Account could be a good option if you regularly maintain at least $1,000 in your account. That way, you'll waive the $8 monthly service. 

The Nationwide Money Market Plus Account pays a slightly higher interest rate than the Nationwide My Savings Account. However, you'll still find more competitive rates on savings and money market accounts at other online financial institutions. 

How Nationwide banking works

Nationwide is a national insurance company that offers online bank accounts and services through its relationship with Axos Bank. If you live in Ohio, there is Nationwide location in downtown Columbus.

Customers have access to free ATM withdrawals at over 91,000 locations throughout the US. You'll have to log in to online banking to use the company's ATM Locator feature. If you have the Nationwide My Checking Account, you'll also receive unlimited reimbursements when you use out-of-network, domestic ATMs.

Direct Bankers are available weekdays from 8 a.m. to 8 p.m. ET by phone, email, or live chat.

The Axos Bank for Nationwide banking app has 4.8 out of 5 stars in the Apple store and 4.6 out of 5 stars in the Google Play store.

Nationwide is not a bank. However, bank accounts are FDIC insured through Axos Bank. This means up to $250,000 is safe in individual bank accounts or $500,000 through joint bank accounts.

Nationwide trustworthiness and BBB rating

The Better Business Bureau rates companies to see if they handle business practices well, have honest advertising, and respond effectively to customer complaints.

Nationwide received an A+ rating from the BBB, and Axos Bank was also given an A+ rating.

A good BBB score won't necessarily guarantee your relationship with a particular company will be perfect. You'll want to talk to current customers or read online customer reviews to see if an institution may be a good fit.

Neither Nationwide nor Axos have been involved in any recent public controversies.

Nationwide vs. CIT Bank

Deciding between these two online institutions will likely depend on your preferences and goals.

The CIT Bank Savings Connect Account and CIT Bank Money Market Account offer more competitive interest rates than the Nationwide My Savings Account and Nationwide Money Market Plus Account. However, bare in mind rates may fluctuate over time, so this could change in the future.

The Nationwide My Checking Account and CIT Bank eChecking Account share some similar features, so your best option will likely depend on minor differences between accounts.

For example, Nationwide offers early direct deposit, while the CIT Bank does not. Nationwide also provides unlimited domestic ATM fee reimbursements, while CIT offers up to $30 in ATM fee reimbursements per month.

Nationwide vs. Capital One

You might lean more toward Capital One if you don't have much money for a minimum opening deposit on an account. Capital One lets you open a savings account, CD, or checking account with $0. Capital One also offers more competitive interest rates on its savings account and CDs.

If you'd like to open a money market account, the Nationwide Money Market Plus Account will be your default option. Capital One doesn't have a money market account. 

Frequently asked questions