Nationwide Bank

continues to offer their best money market rates at 2.00% APY for balances on all tiers. The bank imposes a monthly fee of $8 if the balance falls below $1000. The money market rates have dropped the past few weeks but this money in the bank deal is still very competitive.

Account holders can fund their investment via ACH services or by sending a check in the mail. This account has check writing privileges and comes with an ATM upon request. The first order of checks is also free.

According to the customer service rep, only a soft credit inquiry is done plus the identity verification using the ChexSystem. The bank added the rates may change any time so it will be best to call them first to check.

The ACH facility of Nationwide Bank allows transfer of funds from and to other bank accounts. Account holders can also link an unlimited number of accounts. As required by law, ACH withdrawal is limited to six transactions per month with every exceeding one being charged $5. Some consumers reported that the ACH facility is a slow and takes about 5 days.

The account also comes with perks like no surcharge when using the Allpoint ATM’s, and 2 free transactions per month with non-Nationwide ATMs.

Account holders can opt for paper or electronic statements. They can also download the account information in .OFX format if they are using any finance software.

The bank charges $15 for ACH transfer with next day completion. Incoming wire transfers are free while outgoing fees are set at $15. Deposits can also be sent via mail using posted envelopes paid by the bank.

Nationwide Bank is insured with the FDIC thru certificate number 34710.