Nationwide by Axos Bank
Related Posts
7/29 - Axos Down To 0.90% Nationwide Probably Next.
6/9 - HUGE Rate Cut By Nationwide By Axos Bank
6/2 - Nationwide By Axos Bank My Savings Drops From 1.61% To 1.51% APY
5/26 - Nationwide By Axos Bank Drops To 1.61%
5/23 - Still Offering 1.70% APY On The MY SAVINGS Account [Not Shown On The DA Savings List]
4/23 - Nationwide By Axos Bank Savings Rate 1.70% [Not on DA Savings List]
Update. Issue Has Been Resolved.
Updated 7/15/20. I was contacted by the bank this morning and my issue has been resolved. Thank you.
Be very cautious with opening an account with this bank. They participate in very shady business practices including those that may prevent you from receiving interest that had accumulated in your account. I accumulated almost $300 in interest during June, but because of a small technicality buried within their terms of agreement, I didn't receive any of it.
Good Luck Accessing Your Account And Making Deposits
This bank loses major points with me for three reasons: The first is being locked out of my account daily; the website failing to recognize my username/pw on a daily basis - requiring me to reset it only to have to call and go through a security check ovee the phone to verify my account. The second is having to go into a CVS and use their register to make any cash deposits. Why can't this company utilize atms for cash deposits like every other banking institution. Mobile deposits for checks are convenient, but sometimes scanned checks are rejected and there is a verification period and an addtional processing time which delays fund availability. Third: I phoned customer service to verify the max amount you could withdraw from an atm. I was asked what I needed the money for. Excuse me? It's my money I earned, and none of your business what I intend to use it for.
Sorry To Be Leaving Axos
I am leaving because of the fraud system used by Axos. I am all in favor of preventing fraud, but this has gotten to be too much. In several incidents I have tried to use my debit card only for it to be declined and then I have had to spend as much as 30 minutes on the phone getting the suspension lifted so I could pay for my purchases. First on of all, where I spend my money is my business, second, how about the embarrassment of getting declined and on top of that having to put the checkout clerk and everyone in line in a waiting mode because I am having to get my card reinstated. It has turned a ten minute shopping trip into a two hour complete sh..tsh....w. This happens so often that it has become way too taxing on me. I am a 70 year old priest and I have been treated shabbily by some retailers when trying to explain why I was holding everyone up. So, I am changing banks.This makes them eligible for one star.... instead of five. Been a faithful customer for years.
Great Rate, Difficult Application.
Since I previously had a UFB (also Axos) account I had to register as an existing customer.
Unfortunately, it did not recognize my old UFB username/password, so I had to go to UFB to re-register on their new system, with all the emails, access codes, and associated security procedures.
Finally got into Nationwide/Axos with its associated access codes and procedures to fill out an application. I received no confirmation I had actually opened an account until two days later.
It was a long tedious process, then they dropped their rate the next day.
Data as of Q2 2023
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35546 |
| Year Established | 2000 |
| Employees | 1161 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.62% |
| Return on Equity - YTD | 16.56% |
| Annual Interest Income | $647.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $19.40B$16.00B |
| Loans | Q2 2023vs Q2 2022 | $16.46B$14.08B |
| Deposits | Q2 2023vs Q2 2022 | $17.26B$14.08B |
| Equity Capital | Q2 2023vs Q2 2022 | $1.88B$1.63B |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $166.5MM$148.4MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $103.1MM$118.3MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $7.0MM$0 |