I will caveat my review by saying that Nationwide has done a good job providing me service after a truck rear-ended me a few weeks ago. However, when the time came to disburse the total of my vehicle, I was given the option to receive a Nationwide debit card or a check. The rep went the extra mile in relation to the debit card, talking about how much quicker and user-friendly it would be.
Not the case. There is no funds transfer capability, so if you want to transfer the money to your account, you have to do a cash advance through a bank that has agreements with Visa. If your bank uses MasterCard, like me, the option you are given is to withdraw thousands of dollars from an ATM in $20 increments and then deposit the cash. I called Nationwide and was told I could cancel the card and a check would be overnighted. I was charged a $10 fee, and then told it would be at least 7 business days before I would receive a check. The period after an accident is frustrating enough. Save yourself from this additional headache!
My experience is the same as others report here. If there is no activity in a six month period Nationwide charges a $5.00 monthly "inactivity fee". Activity can be a simple phone call, but you have to remember to call. Why should anyone have to do this? This is obviously a scam. I have not encountered this scam at any other similar online bank. So it's clear- find a different bank.
I had a money market account for years that I was depositing to on a regular basis. Good initial rate, no problems. Then I had a period of inactivity and they started charging "dormancy" fees (even though I had several thousand dollars in my account). So I contacted them and they refunded the charges and told me I just needed to withdraw or deposit funds periodically to avoid charges. So I did that and when my account dropped below a certain figure, they started charging a low balance fee of $8 per month. When I complained that their representative did not warn me of this when I told him I was going to take out most of the money, they refused to refund the charges. They said the charge was listed in the account disclosure statement.
What a bunch of crap. I opened a free checking account. So I thought. After 6 months they started charging me 5.00 per month.
They didn't say why and they didn't care if I stayed a customer, so I closed my account. The thing that really chaps my hide is the fact that I had bought checks and was planning on using them as my main bank. Save your time and money they are not worth it. I will now use Banner Bank for all my checking needs they don't lie.
Oh, and by the way there customer service sucks big time.
I opened a Nationwide bank account after I switched my insurance to Nationwide. I cannot even begin to describe their customer service in any other word except terrible. I have never seen such incompetence in my entire life. The reps have NO idea what they are talking about. I had to explain the deposit process to a rep when making an inquiry. Do not do business with this bank.