
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
finder.com’s rating: 3.5 / 5.0
★★★★★
With Axos Bank‘s Business Interest account, you can earn up to 1.01% APY — a competitive rate for a business checking product. But you’ll pay a $10 maintenance fee with a balance less than $5,000 and you’ll only earn the highest APY if you keep $49,999 or less in your account.
$10 per month
Fee
Up to 1.01%
APY
$100
Minimum deposit to open
APY | 1.01% on balances of $0 to $49,999.99 0.20% on balances of $50,000 to $249,999.99 0.10% on balances of $250,000 to $4,999,999.99 |
---|---|
Fee | $10 per month |
To waive the fee | Maintain a $5,000 minimum average daily balance |
Minimum deposit to open | $100 |
ATMs | ATM fees reimbursed at any ATM nationwide |
ATM transaction fee | $0 |
ATM fee rebates | Unlimited domestic ATM fee reimbursements |
Nonsufficient funds fee | $25 |
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.
But to avoid the $10 monthly maintenance fee you’ll need to keep a minimum of $5,000 in the account. And the rates on the account are tiered. So you’ll need to keep $49,999 or less in your account to earn the highest APY. Otherwise, you could earn as low as 0.1% APY on your balance.
If you think Axos’s Business Interest Checking account matches your business’s needs, here’s how to sign up:
You’ll need more than a few documents to open a Business Interest Checking account. Keep the following nearby:
You must be a US-based entity to qualify.
The other documentation you’ll need varies by business type:
Business Type | Required documents |
---|---|
Sole proprietor |
|
General partnership |
|
Limited Liability Corporation (LLC) |
|
Limited Partnership (LP)or Limited Liability Partnership (LLC) |
|
For profit corporation |
|
Nonprofit corporation |
|
The Axos Bank Business Interest Checking account comes with standard features like 24/7 remote deposit capabilities and automatic bill pay, either online or through the app. But here’s where it really shines:
The Axos Bank Business Interest Checking account has these drawbacks to consider:
If you want a checking account with a lower minimum requirement, you’ll want to keep looking. As always compare your options when choosing a business checking account.
Axos doesn’t have any in-network ATMs. Instead, it reimburses 100% of domestic ATM fees you incur while using your Axos Bank Business Interest Checking account debit card. And it partners with MoneyPass and AllPoint ATM networks to accept cash deposits.
Here’s how to manage the flow of funds coming in and out of your Axos Bank Business Interest Checking account:
Does the Axos Business Interest Checking Account have tiered interest?
No. You’ll earn a flat 1.01% APY on your total account balance.
Who do I contact if I have questions about the Axos Business Interest Checking account?
You can chat with a customer service representative by calling 844-678-2726 weekdays from 6 a.m. to 6 p.m. PT.
How much does it cost to replace my Axos Business Interest Checking account debit card?
If your card is lost or stolen, you can get a replacement for free. But it’ll cost $50 to have it rush delivered.
★★★★★ — 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.