Introduction: Nationwide Bank Review
As technology continues to improve, we are seeing radical differences in the way we do business all over the world. The finance sector has seen massive changes as more services can be conducted over the internet.
In our Nationwide bank review, we look at an institution that embodies the idea of convenience: a Nationwide bank account provides all the traditional services you would expect of a physical location but offers them to you from the comfort of your own home.
- Variety of checking and savings accounts
- Credit card options
- Home equity loans
- Mortgage loans
- Auto loans
- Boat, motorcycle and RV loans
- Financing tools and calculators
- Resources for learning about the variety of financing options
- All hosted online
Our review looks to cover all the facts regarding Nationwide bank to ensure you are getting the best services available and that you get exactly what you’re looking for. This bank offers a wide variety of services, and we look to highlight the ones that are most important to you and show how competitive they are. We will look at the positive aspects of their services as well as real customer insight on what they wish could be changed.
A Company Deeply Rooted in History
Despite its embrace of technology, the roots of the company go back far beyond our current age of connectivity. The company started more than 85 years ago as a simple automobile insurer and over time have shifted and changed their services to become one of the most powerful financial companies in the world, currently owning more than $150 billion in assets.
The company made a name for itself in 1928 providing insurance to farmers. Their competitive advantage was their distinct focus on Ohio, making sure to tailor to the needs of the state. The Farm Bureaus of the area, in turn, supported the company, allowing it to expand to the surrounding states as well as moving into larger cities in the years that followed.
Fast forward to the present, Nationwide is now made up of dozens of affiliated companies but manages to retain the roots the made them successful in the first place. Their dedication to quality customer service and willingness to adapt has helped them move primarily to an online platform. Nationwide Bank online banking helps provide a diverse group of financial services to their customers.
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Access a Variety of Financial Services
Nationwide Bank specializes in providing a variety of services to its customers. Does the bank manage to excel in all its fields, or is it too spread out to provide a proper service? Our Nationwide bank review looks to highlight a few of their essential services and grade their performance in the competitive financial sector.
Nationwide Auto Loan Review
Nationwide Bank prides itself on its competitive rates on its auto loans, and looks to provide quality service and informative guides on its different offers. Nationwide auto lending reviews praise the bank for its intuitive application process, and excellent choice of options when it comes to repayment.
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Flexible Financing
When you take on an auto loan through Nationwide, you can make the purchase through franchised and independent dealerships as well as private sellers. Some companies will only provide you the loan if you purchase through large companies they’re partnered with. Our Nationwide Auto lending review highlights the importance of being able to take out a loan while finding the best price on the market.
The flexibility of their auto financing doesn’t stop there, however; they also look to make the process as seamless as possible. With a variety of on-site tools, they ensure you’re getting the car that’s right for you. Nationwide Auto loan reviews mention that customers had an easy time navigating the private car search tool, which allows you to pull from a variety of sources to get an idea of what’s on the market.
Don’t limit yourself to one marketplace when their service will help you get the best deal across multiple sources.
Restrictions on Auto Purchases
Nationwide sets their lowest amount for a loan at $5,000, which is one of the lowest available on the market. This makes the bank a fantastic choice if you have money saved up or have your sights on a cheaper car. Their automatic payment options make the process of paying back the loan seamless and easy, as well as providing a discount if you choose this option.
Nationwide car loan reviews select the bank as the most flexible when it comes to mileage restrictions, another common tactic used by other companies to increase the amount you pay. Nationwide allows you to buy a car with up to 150,000 miles on the odometer, allowing you to expand your search to more cars and lower prices. Their service puts customers first, and doesn’t look to limit your options or lock you down with a massive loan.
As with their other services, the entire process can be accomplished online, with customer representatives on call every step of the way. For a majority of customers, the loans will be approved by the bank the day the request was made. One Nationwide auto lending review praises the quick and intuitive system, flexibility of services, and options when it comes to financing.
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Nationwide Mortgage Services Review
Across the board, Nationwide mortgage reviews are quick to praise the bank for its competitive rates, multiple loan sizes and terms designed to suit the customer’s needs. Their loans come in three distinct areas: fixed, adjustable, and jumbo. Jumbo fixed mortgages are simply loans above $417,000, with rates and service tailored to a higher cost property.
Adjustable mortgages allow you to set specific grace periods where the interest may increase or decrease, allowing you to tailor the loan to your specific financial situation. The bank provides specific limitations to how much you can modify your rates and how long these changes stay in effect, but overall this is an excellent option against the uncertainties of life.
Guide for Preparing for a Mortgage
If you’re interested in one of Nationwide’s mortgage options, they provide a straightforward guide to ensure you’re ready for one of the biggest financial decisions of your life.
- Determine if you are prepared to take on the added debt of a mortgage. Understanding the stability of your income, as well as being comfortable covering home repairs, is essential to confidently taking out a mortgage.
- Next, assess your credit score and verify it with a major bureau. Being able to accurately cite your credit score is critical to ensuring you get the best rates possible.
- Look into your financing options with Nationwide. Fixed-rate, adjustable-rate, and jumbo mortgage. You can find your best fit through assessing your down payment, level of income, as well as long-term outlook.
- Finally, submit a mortgage application to get the process started. Many recommend applying for a mortgage before you have the house picked out; this helps in negotiations as it shows you’re a serious buyer.
Nationwide provides intuitive applications, as well as a variety of resources in order to educate you about the mortgage process. The decision to take on a mortgage is a large one, and many companies make the process tedious and confusing. With Nationwide’s online platform, you’re sure to find the program that fits your needs and be confident and secure moving forward.
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Nationwide’s Online Excellence
Nationwide sets itself apart due to its unique position as an online first finance provider. It provides all the traditional services you would expect from going into a branch, but integrated into their website and your Nationwide bank account. Their connection to the physical world comes through their ATM network that spans across the country. Even if you can’t find a company-supported ATM, they provide a set number of free withdrawals from non-network devices every year.
The bank’s interest rates are fairly average compared to the competition. Nationwide bank reviews compare them to other financial institutions and find that their online platform and full range of services are what set them apart from the competition.
Variety of Quality Banking Options
Image source: Nationwide
Nationwide Bank online banking provides three different choices when it comes to checking accounts. In order to sign up, these require a $50 charge as well as monthly fees of service, but qualifying for special status, such as students, means these funds can be waived. Nationwide Bank reviews recommend the eChecking account for those who qualify, as it earns the highest interest rates on accounts over $10,000.
When you’re looking for saving in your Nationwide Bank account, their CD accounts are the first place you should look. A 60-month CD account is the best interest rate available on their savings choices. This choice also comes with additional benefits, such as when interest is credited, you are able to withdraw during the term without being penalized. The account requires $500 to open, and the best rates coming with their 60-month term option.
Ensure Security and Accessibility
Nationwide Bank online banking takes multiple steps to ensure your account and information are safe:
- Multi-factor authentication process
- Selection of a SafeKey image in order to proceed
- Required to answer a set of specific questions
- Register your computer for easier access to information
When it comes to banking from the comfort of your own home, Nationwide Bank is one of the best in its class. Their simple layout allows you to view a variety of your financial statements with the click of a button, as well as set up a direct deposit easily.
If you’re on the go, consider downloading their app on your iPhone or Android device. The app gives you access to many of the same functions, such as viewing balances and financial statements, paying bills, or creating electronic transfers. Both mobile and desktop also provide access to a variety of budgeting tools and calculators that help you visualize and plan for the future.
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Real Customer Reviews of Nationwide Banking
With a bank that primarily conducts itself online, there are concerns about Nationwide’s ability to provide the same services that brick and mortar stores provide. The good news is that Nationwide bank customer reviews across the board praise the bank for its excellent platform and services provided.
Many customers are especially happy with the excellent options of savings accounts available. Users such as “Ender” on Wallethub, feel comfortable putting their money in a bank they can trust. The interest rates are competitive, and customers are excited to watch their money grow. User “nmartocello” in his 5 star review, cites how easy it was to sign up, and they have yet to make a call or reach out to customer service since joining the bank.
Those taking out auto loans primarily complained about the issues that came with refinancing, as it seems very difficult to get the process sorted out with their customer service. Many issues posted on Credio centered on being unable to navigate a menu or accomplish a task, but a person on the phone helped get the situation sorted out quickly and easily.
Verdict
Nationwide banking has proven to the public that an online-only model can not only work but can compete for some of the best rates in the industry. The bank was founded on understanding the customer and looks to continue its tradition through the multitude of financing services it provides.
Auto financing is extremely flexible and works to help you get the best car for your dollar possible. Their less strict limitations allow you to look for budget cars or take out smaller loans in order to pay them back easier. Mortgage loans are equally flexible and provide competitive rates in the sector.
Whether accessing at home or on their smartphone app, you can be sure that Nationwide will be there, providing quality banking and financing based on your needs. Is this bank the right place for you? Our Nationwide Bank review is a critical look at one of the country’s biggest financial lenders.
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