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Nationwide Direct Checking account review
Get free online banking if you use direct deposit.
finder.com’s rating: 4.2 / 5.0
★★★★★
Nationwide’s Direct Checking account, offered through Axos Bank, has no required opening deposit, but if you don’t set up direct deposits, you’ll pay a $5 monthly maintenance fee. The account is also subject to daily limits on your debit card transactions and ATM withdrawals.$5 per month
Fee
N/A
APY
$0
Minimum deposit to open
Details
| APY | N/A |
|---|---|
| Fee | $5 per month |
| To waive the fee | OR set up direct deposits |
| Minimum deposit to open | $0 |
| ATMs | 91,000 free ATMs across the country |
| ATM fee rebates | Up to $30.00 domestic ATM fees per month |
| Nonsufficient funds fee | $25 |
Review by
Heather Petty
heather.petty@finder.comHeather Petty is a personal finance writer at Finder specializing in home loans, banking and insurance. After falling victim to a disreputable mortgage broker when buying her first home, she’s on a mission to help readers avoid similar experiences when managing their own finances. A self-proclaimed word nerd, her writing has been featured on MSN, Credit.com and MediaFeed.org, among others. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She holds a bachelor’s degree in English with a minor in journalism from the University of Nevada, Reno.
Expert review
Nationwide’s Direct Checking account provides early access to your direct deposit funds with no minimum deposit or balance requirements.But there are quite a few drawbacks to consider, such as daily spending and withdrawal limits on your debit card, and a $5 monthly fee for anyone not using direct deposit.
How do I open a Nationwide Direct Checking account?
Follow these seven steps to open a Nationwide account by Axos Bank:
- Click Apply now.
- From the Nationwide/Axos Bank website, click Open an Account.
- Find Direct Checking and select Open an Account.
- Choose whether or not you want to add an additional account.
- Create an account and click Start Application.
- Photo capture your ID or enter your information manually. Click Save & Continue.
- Enter your funding details and click Save & Continue.
- Review your details, read and accept the disclosures and submit your application.
Eligibility
You must meet the following eligibility requirements to open an account:
- At least 18 years old
- US resident or citizen
- Must not have a credit freeze on your credit report
Required information
Have the following information ready before you apply:
- Social Security number
- US driver’s license or state ID
- Residential address
- Email address
What are the benefits of Nationwide’s Direct Checking account?
The accounts comes with the following benefits:
- No minimum opening deposit. You can open your account for free and there’s no minimum balance requirement.
- Early direct deposit. You’ll get access to your direct deposit funds up to two days early.
- ATM reimbursements. You’ll get $30 a month in reimbursements when you use an out-of-network domestic ATM.
Axos Bank’s ATM network and fees
Your Nationwide account allows you to use Axos Bank’s network of 91,000 free ATMs across the country. If you use an out-of-network ATM, your Direct Checking account will reimburse you up to $30 a month in domestic ATM fees. You can find the nearest ATM by using the locator map on the website.
Axos Bank is also a member of the Green Dot network, which allows you to deposit cash onto your debit card at retail locations for a $4.95 fee.
What should I look out for?
Keep the following drawbacks in mind before you apply:
- Daily debit card limits. You can’t spend more than $500 a day using your Visa debit card or take out more than $310 from an ATM.
- Monthly maintenance fees. If you don’t set up a direct deposit, you’ll pay $5 a month in maintenance fees.
- No branches. As an online-only bank, you can’t visit a branch for in-person assistance. Instead, you’ll have to rely on phone calls and online tools.
If you want more control over your account, check out our best checking accounts guide to find an account that meets your needs.
Compare with other checking accounts
How do I deposit or withdraw my money?
Although there are no branches, you can access your money in several ways:
- ATM. Use an Axos Bank ATM to make deposits or withdraw up to $310 a day for free. Domestic out-of-network ATM fees are reimbursed up to $30.
- Checks. You can write unlimited checks on this account.
- Mobile deposit. Use your phone to deposit checks.
- Wire transfer. Incoming wire transfers are free, but outgoing transfers are $35 for domestic and $45 for international wires.
- ACH transfer. Transfer money between banks over the phone or online for free.
- Green Dot Network. Deposit cash through a networked retailer for a $4.95 fee.
What other checking options does Nationwide offer?
Nationwide offers the following personal checking accounts through Axos Bank:- Interest checking. An interest-bearing checking account with no maintenance fees, early direct deposit, and domestic ATM fee reimbursement up to $30 a month. Your APY is tiered based on your average daily balance, starting at 0.1% for balances up to $2,499.99 and topping out at 0.4% APY for balances of $25,000 and higher.
- My Checking. Get unlimited domestic ATM fee reimbursements, no minimum balance requirements and early access to your direct deposit funds.
- First checking. Designed for teens between the ages of 13 and 17. There are no monthly maintenance, overdraft or insufficient funds fees and teens earn 0.25% APY.
How can I contact Axos Bank customer service for Nationwide accounts?
You can contact customer service any time of the week:
- Call 855-232-2967.
- Email nationwidecustomerservice@axosbank.com.
- Fill out the Request More Info form at the bottom of the website.
- Send mail to P.O. Box 509127 San Diego, CA 92150.
Checking account ratings
★★★★★ — 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.
