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finder.com’s rating: 5.0 / 5.0
★★★★★
Announced in October 2020, the Nationwide Advantage checking account has no fees and earns up to 0.9% APY. But to earn the highest APY, you’ll need to meet strict deposit and purchasing requirements.
$0 per month
Fee
0.90%
APY
$50
Minimum deposit to open
APY | 0.90% on balances of $0 to $150,000 with at least $1,000+ in direct deposits and 10 debit card purchases a month.. |
---|---|
Fee | $0 per month |
Minimum deposit to open | $50 |
ATMs | Access to over 80,000 ATMs nationwide |
Overdraft fee | $0 |
Review by
Michael Benninger is a staff banking writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Business Insider and the Los Angeles Times. Michael is passionate about all facets of personal finance and has written hundreds of articles about money management during the past decade.
The Nationwide Advantage checking account by Axos offers an above-average APY, but only if you deposit more than $1,000 into your account each month and make at least 10 purchases of $3 or more using your ATM card. Nationwide lacks many of the fees that other banking institutions commonly charge, but you’ll find a better APY with Axos’ Rewards Checking account if you’re willing to meet the same stringent deposit and purchasing requirements. Or continue exploring other interest-bearing checking accounts if this account isn’t the right fit for you.
With a Nationwide Advantage account, you’ll enjoy:
We gathered a quick comparison of similar accounts to help you decide if Nationwide Advantage checking is best for you. For more options, select “Compare accounts” to compare even more checking accounts.
Nationwide Advantage checking |
HSBC Premier Checking |
Chime Spending account |
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★★★★★ |
★★★★★ |
★★★★★ |
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Fee $0 |
Fee
$50 per month |
Fee $0 |
APY 0.90% on balances of $0 to $150,000 |
APY 0.01% on balances of $5+ |
APY N/A |
Minimum deposit to open $50 |
Minimum deposit to open $0 |
Minimum deposit to open $0 |
Compare even more checking accounts
Before you open a Nationwide Advantage checking account, keep these drawbacks in mind:
Use your Nationwide Advantage Visa debit card at more than 80,000 ATMs across the nation. Unlike other Nationwide checking accounts, you won’t get reimbursed for any ATM operator fees you incur.
Open the Nationwide Advantage checking account in eight steps:
You’ll need to meet the following criteria to open an account:
Have the following handy when opening the account:
The only way to withdraw money from a Nationwide Advantage checking account is by using an ATM. Axos Bank’s website features an ATM locator that can point you toward the nearest locations. You can deposit money into your account in three ways:
In addition to the new Advantage account, Nationwide offers five checking accounts:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.