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Nationwide Customer Given Run Around
I wish Nationwide would remove their endorsement to their customers for this bank. I tried to open an account, and I'm a former UFB accountholder, so their online would not allow me to open as a new account holder. I called twice and left my 'call back' number. Never received a call. I sent email, 3 days later, I received an email, to 'log in as a new customer'..duh...that does not work. I then called and sat on hold until I could speak to someone. The person I spoke with told me they needed to take my app over the phone. This is a joint account, so we went thru all the info for both accounts. The agent then tells me his computer blanked out and lost the info. So we go thru the process again. At the end, he asks me, do you have a credit freeze, I answer yes. He tells me I need to lift the freezes and then call in and apply again. He apologized for not asking me that at the beginning of the process. I then get an email from Nationwide Axos, with the info to contact the 2 bureaus, to lift the freeze. I go ahead and lift the freezes. Several hours later, at their instruction, I called in to start the app process again. This time, I was told, I do not need to re-apply, that I lifted the freezes timely. I had previously lifted my Chex System fraud alert as well. So now, with both applicants, seniors, with excellent credit. we get a 'decline' from Nationwide Axos. What a waste of my time and energy. As an insured with Nationwide, I wish Nationwide would stop sending me emails promoting Axos. Nationwide can do better than using this dysfunctional institution to offer banking to its customers.
Won't Allow ACH In....
I have an existing CD at this bank (I opened it prior to Nationwide turning their banking over to AXOS) and yet online it would not recognize me as an existing customer when I started the application!! The process to open is tedious but I still persevered. When it came time to fund the account, I couldn't figure out how to ACH in, so I called them. I was told I had to link an external account and then could do a one time transfer IN to them since it was a CD. I thought that was weird but still started the process and waited for 3 business days for small deposit verification. Instead I received a note from the external bank (where the money was coming from) that the Axos account was not active! I Live Chatted with Axos and they said I could NOT ACH $$ in, that I could only mail a check or wire transfer. They apologized for the incorrect information I received, however it's now been a week that I've been trying to open this CD. I have since taken my CD $ elsewhere and will let this one die on the vine.
UPDATE 7/30/19: I did receive a call from AXOS saying that they WOULD accept an ACH in but I had already moved the $$ elsewhere and I still question why they say one thing and then say the opposite and then back pedal
Good Luck Opening A Account. Get Ready For The Run-Around.
I was enticed by the 2.9% 2yr CD offer. Opening a account is a nightmare. You first go through the tedious online process and submit your DL electronically. You have to unlock your credit reports in order to do so. After which your account goes into review. When you don't hear anything you can then contact their customer service who will ask you to go through the whole process again, including unlocking your credit reports. After which your account will go into review again. Then you will get a email asking you to do the whole thing over again. A CSR told me that this is standard operating procedure for new accounts. All I experienced was run-around and a waste of time. I should have known better after dealing with UFB in the past, which is now also part of Axos/Nationwide. Save yourself some time and frustration. I have never had such difficulty opening a online account and I have dealt with more online banks that I can count. I regret giving this bank any of my information. At this point I have given up and went ahead and opened my CD elsewhere, which BTW took less than 5 minutes.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35546 |
| Year Established | 2000 |
| Employees | 1031 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.78% |
| Return on Equity - YTD | 18.71% |
| Annual Interest Income | $594.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $11.55B$9.80B |
| Loans | Q4 2019vs Q4 2018 | $10.12B$9.04B |
| Deposits | Q4 2019vs Q4 2018 | $10.15B$8.42B |
| Equity Capital | Q4 2019vs Q4 2018 | $1.06B$955.6MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $59.3MM$53.7MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $52.2MM$43.0MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $7.4MM$8.5MM |