Personal FAQs

Axos Bank (formerly BofI Federal Bank) is a financial services company that manages nearly $18.4 billion in assets. Founded in 2000, we are one of the first banks to offer banking services exclusively online.
We specialize in leveraging innovative software to help clients save time and money. In September 2018, we announced a new partnership with Nationwide to deliver banking services for their customers.

Here is the Axos Bank Privacy Policy 

We offer a variety of deposit products including, Checking, Savings, Money Market, and Certificate of Deposit accounts.

To learn about our different Checking Accounts, click here.

We offer a wide range of mortgage products to meet your needs. Click here to find out more.

Your account offers free ATM withdrawals at approximately 91,000 convenient locations across the nation. To discover where you can make free ATM withdrawals near you, log in to online banking and use our ATM Locator.

You can use your Visa® Debit card internationally wherever a Visa card is accepted. There is a foreign currency conversion rate for all International Point of Sale (POS) transactions and ATM withdrawals. View our Disclosures page for rate information. There could be additional fees imposed by the merchant or ATM used.

If you plan to travel soon -- whether domestically or abroad -- let us know by sending us a Secure Message. Log in to online banking and select the Messages tab. Provide the dates of your travel to ensure full, uninterrupted usage of your card. Oh and by the way: Bon Voyage! 

To adjust your birth date, log in to your online banking account and please select the year located in the top, left corner. Swipe to the appropriate year and choose your month and day.

You can view our disclosures here.

As a digital bank, we do not use the traditional, brick-and-mortar branch model. Instead, you can access all of your banking features using your computer or mobile device. Whether you’re at home, the office, or on vacation – you can access your account online, 24/7. Our Direct Bankers are also available Monday – Friday, 8:00 AM - 8:00 p.m. ET.

• For Personal Accounts: Call 855-232-2967
• For Business Accounts: Call 833-232-2967
• For Personal & Business: Email [email protected] or use the chat feature at www.axosbank.com

NOTE: If you are located in Ohio, there is a branch in Downtown Columbus at:

• Three Nationwide Plaza
• Columbus, Ohio 43215
• The Columbus branch is open 8:00 am- 4:00 pm ET.

 

Yes, your previous tax forms and statements transferred to Axos Bank.
For 2018, you will receive 2 forms. One from Nationwide and one from Axos Bank. These forms will be available to view in online banking by end of January 2019. They will also be mailed to you.

We offer both telephone and mobile banking free of charge. With both services, you may look up balances and account history or transfer money between accounts, among other services.

For 24-hour automated phone banking, please call 833-323-2967. Customers will need to set up a new PIN for 24/7 telephone banking. This information will not transfer as part of the conversion. To set this up, you will need your account number and social security number the first time you call.

• For customers who received electronic statements:
  You will continue to receive your statements via email. You may also access previous bank statements online.
• For customers who received paper statements:
  You will continue to receive monthly statements by mail.

Within 30 days of the account transfer to Axos Bank, your monthly statements will be delivered at the end of the month in conjunction with our existing statement cycle. Starting December 2018, be sure to look for mail from Axos Bank. To save money on paper statement fees, we encourage you to sign up for online statements.

As a digital bank, we encourage our customers to sign up for free electronic statements (e-statements). Your e-Statements allow you to view your transaction history, statements, and check images for up to two years. To sign up for e-Statements, log in to your online banking dashboard.

• Email: [email protected]
• Phone: 855-232-2967, Monday – Friday, 8:00 a.m. – 8:00 p.m. E.T.

Unfortunately, no. This service will no longer be offered.

• Login to your online banking account and click on the Forms tab at the bottom of the page to access the Secure Forms page.
• Download and complete 270 Form (Request for ATM Visa Check Card).
• Upload the form to the ‘Upload Your Forms’ section on the right hand side of the secure forms page.

In accordance with Regulation CC, all checks deposited in person or by mail are subject to a hold period depending upon the type of check deposited and your relationship with the bank. Checks deposited via mobile deposit are not subject to Regulation CC but will have a 5-day hold. Please review our disclosures for more information.

Any scheduled recurring and one-time bill payments that were set up through Nationwide Bank will transfer to Axos Bank so you will not need to rebuild your bill pay. Your bill pay history will transfer as well.

Yes, any internal Nationwide Bank transfers have been transitioned to your Axos Bank account. For external transfers, you will need to reestablish all one-time or recurring transfers after Nov 20.

Axos Bank Savings Accounts such as our Money Market Plus account are true savings accounts that do not have the range of options to move money like a checking account. The options to withdraw funds from your Savings Account are:

• Use your ATM card at an ATM.
• Initiate a transfer of money from another Financial Institution.
• Initiate a wire transfer in online banking

Register for online banking and login to your online banking account.
Click on the Messages tab located at the top of the page, from here you will be able to Compose a Message.
If you are having trouble registering, please attach your inquiry to [email protected]

• We make it easy for you to wire money from your account. Simply log in to online banking, select Move Money, and select the Wire Transfers option.
  

To make a contribution to your Traditional IRA or Roth IRA, follow these steps:

Log in to online banking, select Support, and then select Secure Forms. Within the Secure Forms page, select IRA Forms, and then download and print Form 500, also known as IRA Contribution Instructions. Once you've filled out Form 500, scan and upload both the form and a copy of your voided, pre-printed check. You can upload these documents using the Upload Your Forms function of the Secure Forms page within online banking.

You receive a Fair Market Value statement if you have a balance in your IRA account on December 31. It’s a summary of your account that reports your year-end value. It is sent to you by January 31, and an electronic version is available within online banking if you registered for access by December 31.

Form 5498 is informational and generated for retirement accounts with a reportable contribution, rollover, or conversion. It is provided to you in May if you completed a prior year contribution before the tax filing deadline. However, if the only reportable contribution, rollover or conversion you made was completed before December 31, the information will only be found on the Fair Market Value statement issued in January.

These documents are available in the Tax Forms section within online banking. You can request duplicate Fair Market Value statements and 1099-R forms after January 31 and Form 5498 after May 31.

You can make a contribution to your IRA for a prior year by sending us a check or by ACH, but please ensure you respect the deadlines as explained below:

By check: Clearly write the tax year on the Contribution Instructions form or in the memo line of the check deposit. The deadline for a prior year contribution is the individual tax return deadline, not including extensions. Only checks in envelopes postmarked by the tax filing due date for individuals will count as prior year contributions.

By ACH: ACH contributions must be initiated early enough for the credit to reach the retirement account by the tax filing deadline for individuals. ACH instructions and ACH credits received after the tax filing deadline will NOT count toward the prior tax year.

Customers who take a distribution (withdrawal) from a Retirement account before reaching the age of 59 ½ may be subject to IRS taxes and penalties

Your required minimum distribution is the minimum amount you must withdraw from your account each year. You generally have to start taking withdrawals from your IRA account when you reach age 72 (70 ½ if you reach 70 ½ before January 1, 2020)

Roth IRAs do not require withdrawals until after the death of the owner.

Yes. Continue using your existing supply of Nationwide Bank checks. When you order new checks, you will be issued Axos Bank checks.

Your existing debit card and PIN will work until the card's expiration date (which is displayed on the card). We will send you a new Axos Bank card 30 days before your card's expiration date.
ATM-only cards starting with 640509 will not transfer to Axos Bank - you will be unable to use them. All other ATM-only cards will continue to work as normal.

Because your account and routing numbers have not changed, your current direct deposits and automatic debits will continue to process as usual.

Download the Axos Bank for Nationwide mobile app from the Google Play store, or Apple iTunes store.
Next:

• Log in to the app and click “Deposit.”
• Follow the directions on the screen.
Tips/Troubleshooting
• Make sure you are in a well-lit area when taking a picture of your check.
• Placing the check on a dark background will help your camera detect the image.
• Tap the screen while taking the picture, your phone will focus in on the check.
• Check the mobile app store for the latest version of the app.

 

Mobile Deposit allows you to deposit checks anytime, anywhere with your smartphone. Best of all, it’s fast, secure, and completely free.
To get started:

• Register for online banking at nationwide.axosbank.com.
• Download the Axos Bank for Nationwide mobile app in the App Store or Google Play.
• Open the app, log in, select Mobile Deposit, and follow the directions to deposit your check.

You can make cash deposits at participating ATMs nationwide. Log in to online banking and use our ATM Locator to find an ATM that accepts cash deposits. Funds availability may vary.

You can also use our partnership with Green Dot Network® to deposit cash into your account at nearly 100,000 of America's largest and most respected retailers including 7-Eleven, ACE Cash Express, CVS, Dollar General, Kroger, Rite Aid Safeway, Walgreens, and Walmart. Ask the cashier to add cash directly to your Axos Bank debit card at the register. Axos Bank does not charge a fee, but retailers may charge up to $4.95. You can reload any amount from $20 to $500 (up to $1,000 at participating Walmart locations and up to $1,500 at participating ACE Cash Express locations), and funds are typically available for use on your card within 10 minutes. Visit AtTheRegister.com/locations to find a participating location near you.

Customers in the Columbus, Ohio, area may also deposit cash at our local branch, which is located at:

Three Nationwide Plaza

Columbus, OH 43215

There are two up-front costs that the buyer is responsible for when buying a home. First, there is earnest money, a nominal, good-faith deposit that shows you are serious about buying the home. It usually ranges from $500 to $2,000. Second, there is the down payment, which is a percentage of the cost of the home. The amount of the down payment depends on which type of loan you are using to purchase the home, but it is usually at least 10 percent of the home's purchase price. An exception would be a government-backed VA loan, which requires no down payment, although borrowers can choose to make a down payment if they desire.

The following table includes many of the costs you may have as a new homeowner, and how often they will occur. Your exact costs will depend on the price and location of your new home, the type of mortgage you choose, and other factors.

When you borrow money through a home mortgage, you pay points at closing. Also known as “discount points,” this is money paid in exchange for a lower interest rate. You may also hear this referred to as “buying down the rate,” which can lower your monthly mortgage payments. A "point" is equal to 1 percent of the amount of your mortgage (or $1,000 for every $100,000 you have borrowed).

Discount points are fees that you pay directly to your lender at close in exchange for a lower interest rate over the life of your mortgage. As a result of this one-time payment, also known as a prepaid interest payment, you will have a lower monthly mortgage payment.
The cost of each discount point is equal to 1 percent of the principal loan amount. For example, if your principal loan amount is $200,000 mortgage, one discount point would equal $2,000. You can break discount points into fractions; for example, if your principal loan amount is $200,000, 1.50 discount points would equal $3,000.
Whether paying discount points makes sense in your case depends, in part, on how long you plan to stay in your home. Use the following process to calculate your break-even point. Find the difference between the monthly payment without discount points and the monthly payment with discount points. Then, divide the amount charged for discount points by the amount you would save each month. The result is the number of months you would have to stay in your home in order to reach the break-even point on paying discount points.

Closing occurs when you sign all of the paperwork  and are allowed to assume ownership of your new home. At this point, you will be responsible for certain applicable costs, such as title insurance, discount points, and fees for loan origination, loan applications, appraisals, housing surveys, and your first month of homeowner's insurance. Closing costs can total up to 8 percent of the purchase price of your new home.

A short sale occurs when a homeowner sells their property for less than the amount owed on their mortgage, and their mortgage lender agrees to the "short" payoff. Before you commit to purchasing a home as part of a short sale, be sure to consider the fact that a foreclosure on the property is still possible and short sale properties may have structural and other problems. In addition, short sales often take a long time to complete.

Getting prequalified for a mortgage is the first step in the loan application process. Once you obtain pre-approval for a specific loan amount, you can start shopping for your home.

When you receive the purchase contract from the seller’s agent, submit a copy to your mortgage consultant. We can then begin processing your home loan. If you have not done so already, now is the time to provide us with all of the necessary documents to verify your income and assets.

We are pleased to offer a conditional close-of-escrow guarantee. We will work with you and your real estate agent to make sure your loan closes according to your timeline. For this to occur, you will have to provide all of your required mortgage documents to us on time and do your part to prevent any delays along the way.

You can represent yourself in real estate transactions; however, a qualified real estate agent can bring valuable experience, skill, and insight to the home buying process. An experienced real estate professional can also look after your interests, especially during negotiations.

The larger your down payment, the lower your monthly mortgage payment. However, your monthly payment will also depend on your credit history and the type of mortgage you choose. A standard down payment is 20%, but depending on the type of loan, the down payment can be anywhere from 0% (e.g., a VA Loan) to 3.5% (e.g., an FHA Loan) to 10% or more.

Collateral
When you enter into a mortgage agreement with a bank, you’re signing a legal contract. According to the terms of that contract, you promise to pay back the loan, plus any agreed-upon interest and costs associated with the mortgage lending process.
In order to secure the funds to purchase your new house, you use the house as collateral for the loan. If you fail to repay the loan, you agree that the bank can take back the house in lieu of repayment.
Principal and Interest
In mortgage lending, principal refers to the amount of money you borrow to finance the purchase of your home. You can lower this amount by making a larger down payment up front.
The interest is the additional amount of money you agree to pay the bank in order to use the principal amount as payment for your new home. The interest rate is commonly expressed as a percentage. Your interest rate will depend on many factors, including whether you opt for a fixed rate or adjustable rate mortgage.
Together, principal and interest will make up most of your monthly payment. Through a process called amortization, your initial monthly payments will go primarily toward paying down your interest, while your later monthly payments will go primarily toward paying down your principal balance.
Taxes and Insurance
Your mortgage payment will likely include taxes and insurance. If these are paid as part of your mortgage payment, they will be paid through an escrow account.
Property taxes are levied by your community and are calculated as a percentage of the value of your property. Usually they are for local costs such as schools, roads, and public services. Keep in mind the amount of taxes you will have to pay on your property as you consider how much of a mortgage payment you can afford.
In order to obtain a mortgage, most lenders require that you have a home insurance policy in place. It covers your home and personal property against fire, theft, and other damage and losses. If your property is located in a special flood hazard area, you will be required to carry flood insurance, as well.
There are also cases in which you will be required to obtain additional insurance before being eligible for a mortgage. If you put down less than 20 percent on a conventional loan, you will probably be asked to get Private Mortgage Insurance (PMI). This PMI protects the lender in case you default on the mortgage. If you select a loan backed by the Federal Housing Administration (FHA), you’ll also have to pay mortgage insurance. This functions the same way as PMI, except that you must make payments for 11 years or the life of the loan, depending on your terms.