Nationwide Bank has announced plans to exit the retail banking business. On May 7th they announced that it will move all deposits and loans to another unnamed financial institution. According to American Banker the following is up for grabs:
Readers might have accounts with Nationwide Bank currently due to bank account bonuses they have previously offered. If you’d like to close your account before Nationwide sells it off then the following resource pages might be of interest to you:
- Highest APY savings accounts
- Current checking account bonuses
- Hub Accounts – ACH Transfers: Capabilities, Fees, and Limits Across Financial Institutions
*sigh* I miss the days where the NW Buxx cards were so profitable for meeting min spend.
Just got a notice in the mail. Nationwide Bank’s credit card business was sold to Merrick Bank. Is there actually any bank on this planet that sucks more than Merrick?
My experience was good until the end of 2017. Got in on some bonuses way back but mostly used to buy CD’s for my mom. They had the best user interface for opening, closing, and transferring accounts and money. Everything could be done online with no human interaction and no snail mail. That changed near the end of last year, when Nationwide switched to the same crappy interface every other online bank uses. Guess that switch was setting up for the sale of accounts.
I signed up for the credit card when I was rebuilding my credit. I actually use the card somewhat regularly because it offers 0% financing for 12 months on auto repairs. Hopefully they manage to keep that perk, but I kind of doubt it.
Union bank was in the same exact situation a few years back. and this is why Marcus Goldman Sachs will fail. they will go a few years of high burn rate due to their juggernaut parent bank funding, but then will realize they made a mistake.
Too bad. I got a targeted snail mail about six months after I bought a used car. Nationwide offered a much better rate which I accepted and moved the loan to them. That loan and the related savings account are now closed. I had no problems in that six years.
I still remember Nationwide Buxx. Good days
Me too – what a great time that was!
I am still annoyed with them with writing up that checking promo in 2016, then removing it literally the next day. I was going to sign-up but was waiting on the dust to settle (HP DP’s & Chex sensitivity).
Remember them from 2016? Remind me to never tick you off! 😉
You’re not on my list .. .. yet!
Nationwide was never on anyone’s side.