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Nationwide My Savings Account -
Nationwide My Checking Account
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Nationwide CD
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Nationwide Money Market Plus Account
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
| Feature | Personal Finance Insider rating (out of 5) |
| Savings | 4 |
| Checking | 4.5 |
| CD | 4 |
| Money market account | 4.25 |
| Trustworthiness | 5 |
| Total | 4.25 |
Pros and cons
| Pros | Cons |
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|
Nationwide My Savings Account
no monthly service fee
0.20% to 0.30%
$100
- No minimum account balance requirement
- No monthly service fee
- Online bill pay
- Low interest rate
- $100 opening deposit
- $10 excess transaction fee
- Banking products are services provided through Nationwide's relationship with Axos Bank
- Online-only bank with one location in Columbus, Ohio
- Free ATM withdrawals at over 91,000 locations
- Earn 0.20% APY regardless of your account balance
- To qualify for the 0.30% APY you must open your new My Checking account and have a monthly Direct Deposit totaling at least $1,000 from a third party to your My Checking account. You will automatically receive the 0.30% APY upon meeting account requirements.
- $10 excess transaction fee if you exceed the federal limit of 6 transactions per month
- Interest compounded daily, deposited monthly
- FDIC insured through Axos Bank
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 accounts guide.
Compare Today's Rates
Nationwide My Checking Account
no monthly service fee
Up to 0.30%
$100
- Earn 0.30% APY if you meet the requirements
- No monthly maintenance fees
- No minimum balance requirements
- Early direct deposit
- Unlimited domestic ATM fee reimbursements
- Free overdraft protection
- $100 minimum opening deposit
- $25 overdraft fee
- Banking products are services provided through Nationwide's relationship with Axos Bank
- Online-only bank with one location in Columbus, Ohio
- Free ATM withdrawals at over 91,000 locations
- Earn 0.30% APY if you open a new My Checking Account and receive a qualifying direct deposit totaling at least $1,000 during the first 25 days of opening an account
- Free overdraft protection that links your checking account to a savings account
- Interest compounded daily, deposited monthly
- FDIC insured through Axos Bank
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
0.20% to 4.75% (4.75% APY on 12-month term)
$500
- Competitive interest rate on 1-year CD and 18-month CD
- Low minimum opening deposit
- Standard variety of CD terms
- Some CD terms offer low CD rates
- High early withdrawal penalties
- Earn up to 4.75% APY
- FDIC Insured up to $250,000
- $500 minimum deposit required to start
- CDs automatically renew with a full 10-day grace period
- Overview of your financial health in online banking
- Account can be funded via wires or check
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 4.75% APY (Annual Percentage Yield), and the 18-month CD offers 2.85% APY.
Nationwide Money Market Plus Account
$8 monthly service fee
0.25%
$1,000
- Possible to waive monthly maintenance fee
- Complimentary starter checks
- Up to $10 in domestic ATM fees reimbursed each month
- May request a debit card
- Low interest rate
- $8 monthly maintenance fee
- Banking products are services provided through Nationwide's relationship with Axos Bank
- Online-only bank with one location in Columbus, Ohio
- Free ATM withdrawals at over 91,000 locations
- Earn 0.25% APY regardless of your account balance
- To waive the $8 monthly maintenance fee, you must maintain at least $1,000 in your account
- Interest compounded daily, deposited monthly
- FDIC insured through Axos Bank
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 fee.
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 also has an A+ rating.
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
Nationwide offers bank accounts through its relationship with Axos Bank. Banking services and products are operated and federally insured by Axos Bank.
The Nationwide My Savings Account pays 0.20% to 0.30% regardless of your account balance.
