Nationwide Bank Review
Nationwide is well known for their insurance services and has been in business since 1925. The company's Internet banking division, Nationwide Bank, was established in 2007.
Over the past 80-plus years, Nationwide has grown from a small Ohio auto insurance company to one of the world's largest financial and insurance service companies, with more $157 billion in assets in 2010. Listed at number 118 on the Fortune 500 list in 2009, Nationwide has been an accredited business with the Better Business Bureau since 1955, currently holding an A+ rating with them as well as an A+ rating from A.M. Best.
Nationwide Bank is headquartered in Columbus, Ohio. This Internet bank opened to the public in 2007 and already holds $3.4 billion in assets as of 2010. Bauer Financial gives Nationwide Bank a five-star rating. Tha bank has been recognized for their consistently high interest rates.
In 2009, U.S. Banker Magazine named Bank President Anne Arvia one of the "25 Most Powerful Women in Banking", crediting her with limiting Nationwide Bank's subprime exposure and highlighting the bank's financial strength and stability. Direct banking service and the lack of brick-and-mortar branches contributes to the efficiency of Nationwide Bank.
Customers can open a simple checking account at Nationwide Bank or find another account among the variety of choices offered.
Consumers can read the comparison articles on the Nationwide Bank website to evaluate whether it makes the most financial sense to open a money market account, a savings account or a certificate of deposit (CD). Customers who are saving for retirement can also open an IRA with Nationwide Bank.
Nationwide Bank offers a free online banking service that allows customers to transfer funds from a checking account to a savings account or money market account or to check their balance. Online bill paying is also available.
Nationwide Bank customers can also use a 24-hour telephone banking system to check on balances and transfer funds. The bank has a wide network of more than 37,000 surcharge-free ATMs across the U.S. and their ATM cards can also be used at more than 400,000 Visa/PLUS ATMs across the country.
Nationwide Bank customers can apply for a credit card, a mortgage or home equity loan, or an auto or other vehicle loan.
Financial calculators are available online to help customers develop a savings plan, decide between buying and renting a home, and learn how to ladder their CD accounts in order to maximize the flexibility of their savings. A credit card payment calculator can help customers estimate their cash-back rewards and make sure they can handle their credit card payments. Nationwide Bank representatives are available by phone on weekdays to help customers with banking and financial planning questions.
All deposit accounts at Nationwide Bank are fully insured to the maximum FDIC limits of $250,000 per depositor. Accounts with joint ownership are insured for $250,000 per person.