If you currently hold an account with Nationwide Bank, they have announced plans to transition away from retail banking business. They announced that they will transfer retail deposits and loans to another unnamed financial institution. In their letter they stated: “In this highly competitive environment where financial institutions mus keep pace with new capabilities to deliver expected experiences, our parent company, Nationwide will be focusing resources more heavily on the property casually, financial services, and other emerging businesses. Nationwide Bank will transition away from operating as a full-service, federally chartered retail bank and instead focus bank-related efforts on it’s trust operations that serve Nationwide’s retirement pan business.” They also want to make sure that you, the customer, are informed and updated about every action and decision taken place and made with the company.
Thanks to our reader Scott for letting us know about this news!
![]() | BMO Harris PremierTM Checking: Earn $350 cash bonus when you open a new PremierTM Checking Account and have a total of at least $7,500 in qualifying direct deposits within the first 90 days. Learn More---BMO Harris Premier Checking Review |
![]() | U.S. Bank SmartlyTM Checking: Earn up to $600 bonus when you open a new U.S. Bank SmartlyTM checking account and a Standard savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through February 7, 2023. Member FDIC. Apply Now---U.S. Bank Checking Review |
![]() | Discover Online Savings Account: Earn $200 Bonus/$150 Bonus with promo code HMB323 by 03/15/2023 along with a competitive interest rate of 3.30% APY. Fund your first savings account with a minimum of $25K within 30 days of account open date to earn the $200 Bonus (fund $15K to earn $150 bonus). No minimum opening deposit, no minimum balance requirement, and no monthly fees. See advertiser website for full details. Apply Now---Discover Savings Review |
![]() | HSBC Premier Checking Account: Earn $500 bonus for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities. Make recurring monthly Direct Deposits totaling at least $10,000. Member FDIC Terms |
![]() | Chase Private Client: Enjoy a $2,000 bonus when you open a new Chase Private Client Checking account with qualifying activities. Within 45 days of coupon enrollment, transfer a total of $250,000 or more in new money or securities to a combination of eligible checking, savings and/or investment accounts (excludes Chase business checking and savings accounts, any J.P. Morgan Self-Directed Investing & Automated Investing, J.P. Morgan Personal Advisors Accounts, J.P. Morgan Wealth Management retirement accounts and CDs), and maintain the balance for at least 90 days from coupon enrollment. Learn More---Chase Private Client Review |
What Bank Customers Need to Know:
As stated above, Nationwide Bank is moving away from retail banking. They want their current retail customers to be sure that they know that:
- Nationwide Bank is transitioning away from full-service retail banking.
- There is no immediate change to banking relationships—current deposits and loans remain in place, safe and accessible.
- It will take several months to evaluate options that best serve their current retail bank customers.
- Their goal is to transfer retail deposits to another institution that will best serve their current customers as well as find the best solution for transferring loans.
- Nationwide Bank is safe, sound and well capitalized, and backed by the strength and stability of Nationwide.
- They are committed to keep current retail bank customers informed as decisions are made. If you have any questions, please call them at: 1-877-I BANK NW (1-877-422-6569) 8am-8pm ET Weekdays.
Bottom Line:
In conclusion, Nationwide Bank is currently in the process of transitioning away from retail banking services, but do not worry! Although change is different, and if you’ve been with their retail banking business for a while, maybe a little scary, but know that Nationwide Bank is doing everything they can for you to make this transition as smooth as possible. If you are looking for more options, then browse more offers from the fully updated HMB list of Bank Bonuses!
![]() The American Express® Gold Card offers 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months. Terms apply. You'll earn: • 4X Membership Rewards Points at Restaurants, plus takeout and delivery in the U.S., • 4X Membership Rewards points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X). • 3X Membership Rewards points on flights booked directly with airlines or on amextravel.com. $120 Dining Credit: Satisfy your cravings and earn up to $10 in statement credits monthly when you pay with the American Express Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations. Enrollment required. This card has an annual fee of $250 with no foreign transaction fees (See Rates & Fees). Terms Apply. Earn 4X Membership Rewards(R) Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards(R) points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X). Earn 3X Membership Rewards(R) points on flights booked directly with airlines or on amextravel.com. |
Leave a Reply