Nationwide Advantage checking review

What are the benefits of a Nationwide Advantage checking account?

With a Nationwide Advantage account, you’ll enjoy:

• Competitive APY. Earn up to 0.9% as long as you deposit more than $1,000 and use your debit card to make at least 10 purchases of $3 or more every month. Though this is a checking account, this rate is higher than most savings accounts we’ve seen today.
• Fewer fees. With this account, you won’t pay monthly fees to maintain your account or for overdrafts.
• No minimum balance. There’s no minimum balance requirement to meet the APY.

Compare Nationwide Advantage checking to similar accounts

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

★★★★★

Finder Rating: 5 / 5

Go to site
Fee $0 per month
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
Minimum deposit to open $50
ATM network Access to over 80,000 ATMs nationwide

HSBC Premier Checking

★★★★★

Finder Rating: 2.7 / 5

Go to site
Fee $50 per month
APY 0.01% on balances of $5+
Minimum deposit to open $0
ATM network Free to use at all ATMs in the US

Chime Spending account

★★★★★

Finder Rating: 4.7 / 5

Go to site
Fee $0 per month
APY N/A
Minimum deposit to open $0
ATM network 60,000+ fee-free ATMs

Compare even more checking accounts

Compare accounts

What to watch out for

Before you open a Nationwide Advantage checking account, keep these drawbacks in mind:

• Low APY if requirements aren’t met. If you don’t meet the strict APY requirements, you’ll only earn .45%.
• Required opening deposit. You’ll need $50 to open the account. You can find other checking accounts with opening deposits as low as $0 to $25.
• No branches. Nationwide is an online-only institution, so you can’t speak with a representative in person.
• No ATM reimbursements. While other Nationwide checking accounts include ATM reimbursement fees, the Nationwide Advantage checking account doesn’t.

Nationwide’s ATM network and fees

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.

How do I open a Nationwide Advantage checking account?

Open the Nationwide Advantage checking account in eight steps:

1. Navigate to the Nationwide by Axos Bank website.
2. Select Checking in the main menu, then choose Advantage Checking.
3. Select Open an Account. If prompted to open a savings account, select No, Thank You if you don’t want to open a savings account at the same time.
4. Select whether you’re a New Customer or an Existing Customer.
5. Enter your name, email address and phone number, then create a username and password.
6. Photo capture your ID or enter your information manually. Click Save & Continue.
7. Provide details of how you want to fund the account and click Save & Continue.
8. Review your details, read and accept the disclosures and submit to apply.

How do I deposit or withdraw my money?

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:

• Mobile app. Use the Axos Bank for Nationwide app to make mobile deposits for free.
• Green Dot Network. Use any Green Dot Network to load cash onto your debit card. Green Dot establishments include 7-Eleven, ACE Cash Express, CVS, Dollar General, Kroger, Rite Aid Safeway, Walgreens and Walmart. Axos doesn’t charge an ATM fee, but some retailers may charge you $4.95.
• Wire transfers. There’s no charge for incoming transfers, but you’ll pay $35 for outgoing domestic transfers and $45 for international transfers.

What other checking options does Nationwide offer?

In addition to the new Advantage account, Nationwide offers five checking accounts:

• My Checking. Enjoy no fees and unlimited ATM fee reimbursements with Nationwide’s My Checking account.
• Interest Checking. Earn up to 0.4% APY and get a free box of checks upon account opening.
• Direct Checking. Open this account with as little as $0 and enjoy up to $30 in ATM fee reimbursements each month.
• First Checking. Teens earn 0.1% APY with this joint checking account and no fees.
• Business Checking. This account is for owners of small- to medium-size businesses.

Frequently asked questions

• Is Axos Bank secure?

  Yes, Axos’ website and app use 128-bit encryption and support two-step authentication. Axos also monitors all accounts for fraud on a regular basis.