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Nationwide Review: Checking, Savings and CDs

July 30, 2020
Banking, Banks & Credit Unions
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.
4.0 NerdWallet rating

Where Nationwide shines:

  • Earn up to 1.05% APY for its My Savings account.
  • No monthly fees on its interest checking account.
  • Large ATM network, plus domestic ATM fee reimbursements.

Where Nationwide falls short:

  • Only one branch.
  • Low rates on certificates of deposit.
  • $25 overdraft fee can be charged up to three times daily.


Where Nationwide shines:

  • Earn up to 1.05% APY for its My Savings account.
  • No monthly fees on its interest checking account.
  • Huge ATM network plus domestic ATM fee reimbursements.

Where Nationwide falls short:

  • Only one branch.
  • Low rates on certificates of deposit.
  • $25 overdraft fee can be charged up to three times daily.

The bottom line

Nationwide

at Nationwide,

Deposits are FDIC Insured

Nationwide’s deposit accounts are operated by Axos Bank. The Axos Bank and Nationwide partnership offers customers a variety of online options, including a high-yield savings account, an interest checking account — with no monthly fees — that reimburses up to $30 in ATM charges a month, and the My Checking account, which offers unlimited domestic ATM fee reimbursements.

To compare savings rates at online banks, take a look at NerdWallet’s best high-yield online savings accounts, and check out other stellar options in NerdWallet’s roundup of the best checking accounts this month.

Best if: You’re looking for free checking and savings accounts that have competitive rates.

» Want more options? See NerdWallet’s analysis of banks that offer excellent checking and savings accounts.


Ratings methodology

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, bank experience and overdraft fees.

Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation.

The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

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