Nationwide Bank is the financial and banking services affiliate of Nationwide Mutual Insurance Company & Affiliated Companies. Nationwide Bank has a federal charter and operates nationally through their online banking services and a national network of ATMs. Nationwide Bank options include both deposit accounts and loans.
Nationwide is the pride of Columbus, Ohio, where the company began in 1925 when the Ohio Farm Bureau Federation incorporated a new company, the Farm Bureau Mutual Automobile Insurance Company. The company started on a foundation of success, surpassing the minimum starting policyholder requirement for Ohio by ten times, even though their auto insurance was available only to farmers.
In the decades that followed, Farm Bureau Mutual expanded throughout Ohio. The company name changed to Nationwide in 1955, and by 1965, they had expanded to 31 other states.
Today, Nationwide is the largest business to be headquartered in Columbus, Ohio. They employ 36,000 people and have annual revenues of over $20 billion. Estimates place the total value of Nationwide at $161 billion.
Nationwide Bank is one of the 100 financial and insurance companies affiliated with Nationwide Mutual Insurance Company. The bank operates over 43,000 ATMs across the country and offers account holders online and phone banking services that are available 24 hours per day, seven days per week. Since 2008, Nationwide Bank has remained a 4 star bank as rated by Bankrate, an online bank ratings group that measures the stability of banking institutions.
Nationwide Bank Options
Nationwide banking services include a number of loan options, including mortgages, home equity loans, lines of credit and credit cards. Additional Nationwide Bank options that are popular with the company's customers are checking accounts, savings accounts, money market accounts and CDs.
Nationwide checking accounts are available in two types: Direct Checking and Interest Checking. Direct Checking has a $5 per month fee, waived with direct deposit. Interest Checking has a $10 per month fee unless the balance is over $3,000 or $5,000 combined. Both accounts have a minimum initial deposit of $50.
Nationwide Regular Savings has a minimum initial deposit of $25 and a monthly fee of $3 unless the account holder has an average daily balance of $300 or direct deposits into the account. The account links to a checking account to provide overdraft protection.
Another of Nationwide Bank's popular banking services is their money market account. Money market accounts have a minimum initial deposit requirement of $1,000 and a minimum daily balance requirement of $1,000.
Nationwide Bank options are available for all people, no matter their financial situation. Rates are competitive, but the bank imposes transaction limits that are more restrictive than most banks.