Nationwide Axos Bank: Overview & FAQs

Nationwide Axos Bank: Overview & FAQs
••• Morsa Images/DigitalVision/GettyImages

If you’re a Nationwide insurance customer, you can receive access to special banking products through Axos Bank. This is meant to replace the banking services that Nationwide used to provide.
These accounts are similar to the regular Axos Bank accounts, with some minor differences.

Nationwide Axos Bank Accounts

Axos Bank is an online-only bank that provides both personal and business checking accounts. All checking accounts are eligible for free mobile banking, bill pay and mobile deposit. Accounts offer two-factor authentication to prevent hackers from accessing your account.

Axos Bank provides a free debit card and free replacements if your card is lost or stolen. There may be a ​$50​ fee for rush delivery. Customers will be charged a ​$5​ paper statement fee, but can save if they switch to electronic statements.

All of the following accounts are FDIC-insured ​up to $250,000​ per account.

Nationwide - Direct Checking

The Nationwide - Direct Checking account has a ​$5​ monthly maintenance fee that can be waived if you set up direct deposit. There is no minimum amount required to open the checking accounts and no overall minimum balance requirements.

Nationwide Axos will refund ​up to $30​ worth of domestic ATM fees per month, which is one of the highest amounts currently offered among all checking accounts. Customers can also receive access to Direct Deposit Express, which means you will receive your direct deposit up to two days early.

This account doesn't pay any interest.

Nationwide - My Checking

The Nationwide - My Checking account has an ​$100​ opening deposit requirement. There are no monthly maintenance fees and no minimum balance requirements. Axos Bank will refund an unlimited amount of domestic out-of-network ATM fees.

My Checking customers can also have their paycheck deposited two days ahead of schedule. While this checking account doesn’t pay interest, you do need to have it if you want the higher available rate on your My Savings account.

Nationwide - Interest Checking

The Nationwide Interest Checking account has an $100 minimum opening deposit requirement, no maintenance fees and no minimum balance requirements.

The interest-bearing checking account has a tiered interest system:

Interest rates may change depending on external economic conditions. Axos Bank will refund ​up to $30​ worth of domestic out-of-network ATM fees each month. Customers can also get a free box of checks when they open the account.

Nationwide - First Checking

The Nationwide First Checking account is available for teens ​between 13 and 17​ (or ​up to 18​ in Alabama). This teen checking account has a ​$50​ minimum opening requirement.

This account currently pays ​0.25% APY​ in interest, one of the best interest rates among all teen checking accounts. This rate is subject to change based on market conditions.

Customers will have up to ​$12​ in domestic out-of-network ATM fees refunded. There are no monthly maintenance, overdraft or non-sufficient funds fees. Teens can spend ​up to $500​ daily with the debit card and withdraw up to ​$100​ in cash daily.

Like other teen accounts, an adult will have to help the teen open the account and be a co-owner.

Nationwide - Money Market Plus

The Nationwide Money Market Plus account currently has a ​0.50%​ ​APY​ for all amounts, which depends on the overall market rate. There is a ​$1,000​ minimum amount required to open an account.

Customers can get a free box of checks when they open the account. There is an ​$8​ fee that may be waived if you maintain a ​$1,000​ daily balance or more. Customers can also have ​up to $10​ worth of domestic out-of-network ATM fees redundant each month.

Nationwide - My Savings

There is a ​$100​ minimum requirement to open the Nationwide My Savings account, and there are no monthly maintenance fees or minimum balance requirements.

The current interest rate is ​0.40% APY​, but customers who have a My Checking account with ​at least $1,000​ in direct deposits every month will earn ​0.70% APY​ in their My Savings account. If you close the My Checking account or don’t have direct deposit set up, you’ll only earn ​0.40% APY​.

Nationwide/Axos Bank FAQs

1. Where are the Axos/Nationwide ATMs located?

There are about ​91,000​ in-network ATMs located within grocery stores, pharmacies, drug stores and more. You can log onto the mobile banking app or your online account to find the nearest ATM.

Depending on your account type, you may also have some domestic out-of-network ATM fees refunded if you can’t find an in-network ATM close by.

2. Can I keep using my existing Nationwide Bank debit/ATM card?

Your current debit card will remain active until it expires. Thirty days before expiration, Axos Bank will send you a new debit card.

If you have an ATM-only card starting with ​640509​, that will not work with an Axos Bank account. Any other ATM-only card will remain eligible.

3. Will my bill pay accounts transfer to Axos Bank?

All the bill pay accounts you had set up with Nationwide will be transferred to your Axos Bank account so you don’t have to set up your bill pay accounts again. Your previous bill pay history will also be included.

4. Can I use my Nationwide Axos Bank debit card abroad?

Customers can use their debit card internationally with any merchant that accepts Visa cards. Like most debit cards, you’ll be charged a ​1%​ foreign currency conversion fee.

5. Can I use my existing Nationwide checks?

If you still have Nationwide checks, you can continue using them until they run out. If you decide to order new checks, those will have the new Axos Bank branding on them.

The cost of a box cheeks will depend on which checking account you have and how many you’re ordering. You can also purchase checks from a third-party company.

Nationwide Interest Checking Interest Rates

​**Amount**​ ​**APY**​

$0 to $2,499.99

0.10%

$2,500 to $9,999.99

0.20%

$10,000 to $24,999.99

0.30%

$25,000 and up

0.40%

Nationwide Through Axos Bank