Axos Review

How does your bank stack up?

  • Financial Rates: 2.5 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 3.0 Star Icon
  • Bank Fees: 5.0 Star Icon
Advertiser Disclosure
Savings/MMA · Member FDIC Insured


  • Variety of accounts available
  • Competitive interest rates on accounts
  • Most accounts do not have monthly fees
  • Low opening required amounts


  • Earning interest has set requirements
  • Tiered interest rates on accounts
  • Not all rate information listed
  • Interest rates may change without notice

What You Need to Know

Axos Bank offers a good variety of bank accounts. They offer cash-back and interest-earning checking accounts. They offer a checking account for those over 55 and for teens. Axos offers money market and savings account, along with CDs. Their CD terms range from three to 60 months. Axos offers checking, savings, and money market accounts for businesses. They also offer lending options for personal accounts and business accounts.

The Axos Bank accounts offer competitive interest rates. The rates are slightly lower than other online accounts but still competitive. Axos Bank interest rates are much higher than typical bank rates. There is not a set account balance required to earn interest.

The Axos Bank accounts do not have monthly fees. The accounts do not have set balances that you must keep in your account to avoid fees. These accounts are free. The only accounts with a fee are the Second Chance and World checking accounts. That fee is $6.95 a month with a direct deposit for the Second Chance account. The World checking account fee is $30 if your balance falls below $150,000.

The minimum opening required amount for Axos accounts are low. Most of the Axos checking accounts require $50 to open. The World checking account requires $75,000 to open. The savings accounts require $50 to open. The High Yield savings and IRA savings accounts requires $250. The High Yield money market account and CDs both require $1,000 to open.

The Axos Rewards checking account has requirements to earn competitive interest rates. The more requirements you meet, the more interest you earn. To earn the most competitive rate, you must have a direct deposit into your account and make 15 debit card transactions each month.

Most Axos accounts have tiered interest rates. To earn the most competitive interest rates requires a high account balance. The highest tier requires more than $100,000 in the account. Some checking accounts will not earn interest if the balance is over $150,000.

Not all the rate information for Axos accounts is on the website. The disclosures say accounts have tiered interest rates. The Axos website does not list the rates for the different tiers. To find the specific rates for the tiers call customer service.

Interest rates for Axos accounts may change without notice. This applies to their checking, savings, and money market accounts. The rates are subject to change without giving the customer notice. The interest rates on CDs are also subject to change at the bank's discretion.

Cool Things

ATM Fee Reimbursement

Most Axos accounts offer ATM fee reimbursements. Four checking accounts offer unlimited domestic ATM fee reimbursement. Those are the Essential, Rewards, World, and Cashback accounts. The First checking account, for teens, offers $12 reimbursement in domestic ATM fees each statement cycle. The Golden checking account for those 55 or older offers $8 per cycle in ATM fee reimbursements.


Axos Bank started in 2000 as Bank of Internet USA. They started as a digital bank offering their basic checking account. They opened on July 4, to celebrate their independence from traditional banking.

In 2016, they launched their Universal Digital Banking platform. This allowed digital accounts for more customers. They also partnered with H&R Block and Nationwide that year. In 2018 they changed their names to Axos Bank. At this time, they began trading on the New York Stock Exchange.

In that short time of being open, Axos has grown to have around $10 billion in assets. Their headquarters are in San Diego, California. They have branch locations in California, Nevada, Utah, and Kansas.

Awards and Recognition

  • Named One of America’s Best Banks by Forbes
  • Best Online Banks by MyBankTracker
  • Best Checking Accounts by MyBankTracker
  • Best Checking Account in American by

Giving Back

BofI, which name changed to Axos, has supported the SEAL Family Foundation. They continued their support in 2018 to the SEAL Family Foundation. The SEAL Family Foundation supports Navy families. They support local, national, and global families.

Frequently Asked Questions

Is Axos Bank FDIC insured?

Yes. Axos Bank is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How do I access my money?

Through ATM or debit cards, checks, and wire transfers. You can transfer money electronically between Axos accounts or external bank accounts. You can also access your money through bill pay and telephone transfers.

Does Axos Bank offer mobile banking?

Yes. With the mobile app, you can see account balances and transfer money between accounts. You can pay bills and deposit checks through the mobile app.

Is Axos Bank free?

There are no monthly maintenance fees for most Axos accounts. There are no set account balances required to keep in these accounts. Only the Second Chance and World checking accounts have monthly fees.

Is Axos Bank a good bank?

Axos offers a good variety of accounts. The opening required amounts are low and most accounts do not have monthly fees. The checking accounts offer ATM fee reimbursement. The interest rates for Axos accounts are slightly lower than other online accounts. Their rates are still much higher than typical bank accounts.

Is Axos Bank secure online?

Axos Bank has 128-bit SSL encryption on personal information. They make regular updates to prevent and detect malicious software. You are logged out after a set time of inactivity. They monitor accounts regularly for fraud. They have security measures that comply with federal law.

Does Axos Bank offer competitive interest rates?

Yes. The rates are slightly lower than other online accounts. They do offer rates that are much higher than typical bank rates. Some accounts may have tiered interest rates. To earn the highest rate for those accounts requires a high account balance.

Can I use Axos Bank for my business accounts?

Yes. They offer checking, savings, and money market accounts for small businesses. They offer lending options for businesses as well.

How is Axos Bank online banking different from the online banking my bank offers?

The interest rates are much higher. Everything for Axos accounts can be done online or through the mobile app.

Do Axos Bank checking accounts pay interest?

The Rewards checking account earns interest. To earn the most competitive rate, you must meet set requirements. That includes a direct deposit and a set number of debit card transactions. The First and Golden checking accounts both earn interest as well. The First checking account is for teens, and the Golden checking is for those over 55.

How do I reach customer service?

By phone, email, mail, or online chat. Customer service is open 24 hours a day, seven days a week. They are available every day but Thanksgiving and Christmas. Once you are a customer, you can send a secure message through online banking.

Does Axos Bank offer bill pay?

Yes. You can pay bills through the mobile app or by logging into online banking through the website.

Can I deposit cash?

You can deposit cash into your Axos Bank accounts through ATMs or at a local branch location. You can also have a cashier at specific businesses add cash directly to your Axos Bank debit card. The retailer may charge a fee to load money to the debit card.

How long do transfers take?

The initial funding takes two to three business days after Axos receives the deposit.

Can I sign up for direct deposit to Axos Bank accounts?

Yes. You can have money directly deposited into Axos Bank accounts. Having a direct deposit into the Rewards checking account is one of the requirements to earn competitive rates.

Bank Contact Information

Axos Bank
P.O. Box 509127
San Diego, CA, 92150

BankTruth works to have the most up-to-date information on our website. The listings that appear on our pages are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Even so, we work hard to review banks fairly and pass the information onto you, the consumer. Please be aware that we cannot guarantee bank services and promotional offers. If you find a mistake, please contact us.

Sponsored Offers
From Our Partners

Advertiser Disclosure
Sponsored Offers
American Express
Savings (Rate as of 6/21/2024)
APY 4.25%
Rate 4.16%
For APY $1
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
Next >
Savings (Rate as of 6/21/2024)
APY 5.05%
Rate 4.92%
For APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
Next >
BMO Alto
Savings (Rate as of 6/21/2024)
APY 5.10%
Rate 4.96%
For APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
Next >
Savings (Rate as of 6/21/2024)
APY 4.35%
Rate 4.35%
For APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
Next >