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Axos Bank Basic Business Checking account review

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 $0 to get started.

$0 per month





Minimum deposit to open


Fee$0 per month
Minimum deposit to open$0
Intro or bonus offerIf you incorporated after June 1, 2020, you´ll get $200 to your new business bank account. Use promo code NEWBIZ200 on your application. If you are not a business use thte promo code NEWAXOSBIZ for a $100 bonus!
ATMsATM fees reimbursed at any ATM nationwide
ATM transaction fee$0
ATM fee rebatesUnlimited domestic ATM fee reimbursements
Nonsufficient funds fee$25
Learn moreApply now

Review by

Amy Stoltenberg is a staff writer at Finder. She manages Finder's newsletter, which is about all things personal finance, with a sparkling eye toward cryptocurrency and the exciting world of DeFi. When her laptop's closed, you can find her driving around Los Angeles, marveling at the palm trees. She studied writing at Savannah College of Art and Design and has been featured on the Zoe Report.

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 you’ll need to look elsewhere if you want your unused cash to earn interest.


Get a $200 welcome bonus when opening a new basic business account

Expires 30 Sep 2022
If you incorporated after June 1, 2020, you´ll get $200 to your new business bank account. Use promo code NEWBIZ200 on your application. If you are not a business use thte promo code NEWAXOSBIZ for a $100 bonus!

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. Select 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. And there’s no opening deposit required to start either.
  • Unlimited transactions. Unlike some business checking accounts that come with transaction limits, Axos Bank gives you unlimited transactions so you can use your account freely.
  • 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.
  • 2 free domestic wire transfers. This account gets two monthly domestic wire transfers on the house.
  • 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:

    • 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.
    • 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. And you can stop by thousands of deposit-taking MoneyPass or AllPoint ATM nationwide to deposit cash.

    Compare with other business checking accounts

    1 - 7 of 7
    Name Product Fee APY ATMs Minimum deposit to open
    Live Oak Bank Small Business Checking Account
    Live Oak Bank Small Business Checking Account
    Access over 55,000 free in-network ATMs
    Finder Rating: 4.6 / 5: ★★★★★
    $4.99 for Lili Pro
    1.00% only with Lili Pro
    32,000 fee-free ATMs nationwide
    BlueVine Business Checking
    Finder Rating: 4.5 / 5: ★★★★★
    BlueVine Business Checking
    1.50% on balances of $0 to $100,000 You need spend $500 a month or receive $2,500 a month in customer statements.
    38,000+ MoneyPass® locations nationally
    First Internet Bank Small Business Checking
    0.30% on balances of $10,000+
    0.00% on balances of $0 to $9,999
    Up to $10 ATM fee reimbursements a month, plus free access to the ATM Plus Network
    Finder Rating: 4 / 5: ★★★★★
    Novo doesn't charge ATM fees and will reimburse any non-network fees you incur
    Axos Bank Basic Business Checking
    Finder Rating: 4.5 / 5: ★★★★★
    Axos Bank Basic Business Checking
    ATM fees reimbursed at any ATM nationwide
    Finder Rating: 4 / 5: ★★★★★
    You can use your Found card at any ATM

    Compare up to 4 providers

    How do I deposit or withdraw my money?

    There are a few ways to deposit or withdraw cash:


    • ATM cash deposit. You can deposit cash via MoneyPass and Allpoint networks.
    • 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 Bank Business Interest Checking account, compare its other options to make sure you’re not missing out on a better fit:

    • Axos Bank Business Interest Checking. It earns an APY of up to 1.01% 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

    How do I send a wire from my Basic Axos Business Checking account?
    To send a wire, you’ll need to complete Axos Bank‘s wire form and submit it via:

    • Email.
    • Fax. 858-350-0443

    How do I receive a wire into my Basic Axos Business Checking account?

    You’ll need the following information to deposit funds into your account:

    • Axos Bank ABA/Routing number: 122287251
    • Axos Bank‘s physical address:
        • Axos Bank
        • 4350 La Jolla Village Drive, Suite 140
        San Diego, CA 92122

    Make sure the wire is in your name and under your account number.

    Who should I call for help with my Basic Business Checking account?

    Get in touch with one of Axos Bank‘s Relationship Managers at 844-678-2726, weekdays from 6 a.m. to 6 p.m. PT.

    Does Axos Bank offer products for commercial businesses?

    Yes. It has a host of customizable services for large companies, from high-yield reserve accounts to third-party payment solutions.

    Can I get a business loan from Axos Bank?

    Yes. Its suite of loan options include commercial lines of credit, commercial term loans, real estate lending and invoice factoring. It can also help finance equipment and building projects, like bridges and warehouses.

    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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