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Axos Bank Basic Business Checking account review

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Seamless digital management with no maintenance fees.’s rating: 4.5 / 5.0


Keep track of your small business’s finances for free with the basic Axos Business Checking option — but you’ll need $1,000 to get started.

$0 per month





Minimum deposit to open


Fee$0 per month
Minimum deposit to open$1,000
Intro or bonus offerInput the code EARN100 and you will receive $100 when they open or fund a Basic Business Checking Account
ATMsATM fees reimbursed at any ATM nationwide
ATM transaction fee$0
ATM fee rebatesUnlimited domestic ATM fee reimbursements
Nonsufficient funds fee$25

Expert review

Amy Stoltenberg

Review by

Amy Stoltenberg writes about lifestyle and money for Finder, researching the best options for shopping, banking, insurance and authentic travel experiences. After studying writing and fashion at Savannah College of Art and Design, she worked designing apparel at a corporate behemoth before opting for a career with unlimited travel time. When her laptop’s closed, she can be found wandering the streets looking for happy hour and hole-in-the-wall eateries.

Expert review

Axos Bank’s Basic Business Checking account is best for small businesses looking to keep extraneous costs low. You won’t have to worry about a balance requirement or paying a monthly maintenance fee.

But if your business deals with cash deposits, you’ll have to use wire transfers instead.

How do I open an Axos Bank Basic Business Checking account?

If the this Axos Business Checking account seems like a good fit, sign up by filling out the application.

  1. Click Apply now.
  2. From the Axos website, click Business in the top right corner.
  3. Hover over Small business banking and select Basic business checking.
  4. Choose Open an account.
  5. First, it’ll ask for your personal info like first and last name, email and phone number. Fill out the brief form and click Start my application.
  6. On the official application page, the process consists of eight steps:
    • Account type
    • Eligibility
    • Disclosure
    • Applicant info
    • Beneficiary
    • Account funding
    • Review Info
    • Qualification
  7. After you submit the application for Axos’ Business Checking account, Axos Bank will be in touch with next steps.

Required information

Opening a business checking account is more involved than setting up a personal one. Make sure you have the following ready:

  • Copies of the owner or owner’s driving licenses
  • Owner’s Social Security numbers
  • Funding information for your new account, such account numbers from other banks


You must be a US-based entity in order to qualify.

The other documentation you’ll need varies by business type and includes:

Business TypeRequired documents
Sole proprietorIRS SS-4 or 147 c letter
General partnership
  • General partnership agreement
  • All amendments
Limited liability corporation (LLC)
  • Operating agreement
  • Articles of organization plus al amendments
Limited partnership (LP)or limited liability partnership (LLC)
  • LP or LLP agreement
  • All amendments
For profit corporation
  • Articles of incorporation
  • All amendments
Nonprofit corporation
  • Article of incorporation
  • All amendments
  • Letter from IRS of 501-c-3 statu
  • Bylaws stating powers of the officers
  • Meeting minutes plus a list of current active officers

What are the benefits of a checking account with Axos Bank?

Axos Bank’s online setup helps keep overhead costs low and its fee structure minimal compared with competitors. You’ll have access to its digital infrastructure that allows you to deposit checks remotely, pay bills online and bank 24/7 from your computer or through the app.

Special features of Axos’ Business Checking account include:

  • No monthly maintenance fees. No fine print — having a Basic Business Checking account is free.
  • No minimum balance requirements. Don’t worry about getting penalized for running low on funds.
  • Unlimited domestic ATM fee reimbursements. Withdraw cash from any ATM in the nation, and Axos will reimburse you for any and all fees charged.
  • Compatible with Quickbooks. Link up your accounts for convenient budget planning and management.
  • First set of 50 checks is free. Get a complimentary checkbook when you open the account, then reorder through a third party vendor called Harland Clarke.

What should I look out for?

Before opening an account with Axos, consider its potential pitfalls:

  • High initial deposit. At least $1,000 is required to open the account.
  • It doesn’t earn interest. Axos Bank’s Basic Business Checking account is the lowest tiered account for businesses and doesn’t do much for your untouched cash.
  • Cash deposits are inconvenient. If you need to deposit cash, you’ll have to send a wire transfer as you can’t make deposits through the ATM network.
  • Limited in-person help. Unless you live near one of its six offices, you can’t sit down with a banker to get one-on-one guidance. You’ll need to be comfortable working through issues over the phone.

If you want an account with more deposit options or one that earns interest, you’ll want to keep looking. As always, compare your options when choosing a business checking account.

Axos Bank’s ATM network and fees

You’ll get a Visa debit card when you open a Basic Business Checking account and Axos Bank will refund 100% of domestic ATM fees you might incur.

Compare with other business checking accounts

Data indicated here is updated regularly
Name Product Fee Minimum deposit to open ATMs
NorthOne Business Banking
$10 per month
More than 300,000 ATMs across America.

A digital bank account featuring free cash deposits, on-demand customer support and streamlined bookkeeping integrations.
Bluevine Business Checking
38,000+ MoneyPass® locations nationally
A digital account that earns 1% APY, offers unlimited transactions and no monthly fees.
Novo doesn't charge ATM fees and will reimburse any non-network fees you incur
A low-fee online checking account designed for small businesses and startups, but you won’t be able to deposit cash.
Chase Business Checking Account
Chase Business Checking Account
Varies by account
No access to ATMs
Get $300 as a new Chase business checking customer, when you open a new eligible Chase business checking account with qualifying activities.
Axos Bank Business Interest Checking
$10 per month
(can be waived)
ATM fees reimbursed at any ATM nationwide
Earn up to 0.50% APY and pay no monthly maintenance fee with an average daily balance of at least $5,000.
Axos Bank Basic Business Checking
ATM fees reimbursed at any ATM nationwide
No monthly maintenance fees, a low minimum deposit requirement, unlimited domestic ATM fee reimbursements and $100 bonus
Radius Bank Tailored Checking
$10 per month
(can be waived)
More than 20,000 ATMs + unlimited ATM surcharge rebates
with Tailored Checking get free ATMs worldwide and unlimited penalty-free transactions.

Compare up to 4 providers

How do I deposit or withdraw my money?

There are a few ways to deposit or withdraw cash:


  • Wire transaction. Send funds from a transferring institution, bank or broker.
  • Mail a check. Send a check to:
      • Axos Bank
      • PO Box 509127
      • San Diego, CA
  • Mobile app. Use Remote Deposit Anywhere to deposit a check by taking a picture with your smartphone. Note that you’re only allowed to do this 60 times per month.
  • Electronic transfer. Send money directly from another financial institution to your Axos account.


  • ATMs nationwide. All domestic ATM fees are automatically reimbursed.
  • Checks. You get 50 checks for free when you open an account, and can renew your order through Harland Clark.

What other checking options does Axos Bank offer for businesses?

Before committing to Axos’ Business Checking account, compare its other options to make sure you’re not missing out on a better fit:

  • Business interest checking. It earns an APY of up to 0.81% and the $10 monthly maintenance fee can be waived by maintaining a balance of at least $5,000. Requires an initial deposit of $100.
  • Analyzed business checking. Get an ECR — or Earnings Credit Rate — instead of an APY. There’s a $15 monthly maintenance fee that you can’t waive. Requires an initial deposit of $100.

Frequently asked questions

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.

Read the full methodology of how we rate checking accounts.

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