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finder.com’s rating: 5.0 / 5.0
★★★★★
Axos Bank’s no-frills Essential Checking account features fully reimbursed domestic ATM transactions and no maintenance fees, but it doesn’t earn interest over time.
$0 per month
Fee
N/A
APY
$0
Minimum deposit to open
APY | N/A |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
ATMs | ATM fees reimbursed at any ATM nationwide |
ATM transaction fee | $0 |
ATM fee rebates | Unlimited domestic ATM fee reimbursements |
Overdraft fee | $0 |
Nonsufficient funds fee | $0 |
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.
Axos Bank’s Essential Checking account is best for those looking for a no-fee account. It’s no monthly fees and no minimum requirements can help keep your hard-earned money with you.
But the account is handled entirely online and there’s no in-person help.
If the Essential Checking account appeals to you, take the following steps:
After Axos receives your Social Security information and birth date, you’ll submit the application.
Here’s what you’ll need to keep nearby when applying:
To qualify for an account, you must be a US citizen or resident alien 18 years or older. Also, you must use the Essential Checking account for personal use — it’s not meant for business.
We gathered a quick comparison of similar accounts to help you decide if Axos Bank Essential Checking is best for you. For more options, select “Compare accounts” to compare even more checking accounts.
Axos Bank Essential Checking
★★★★★
Go to site |
---|
Fee $0 per month |
APY N/A |
Minimum deposit to open $0 |
ATM network ATM fees reimbursed at any ATM nationwide |
HSBC Premier Checking
★★★★★
Go to site |
---|
Fee $50 per month |
APY 0.01% on balances of $5+ |
Minimum deposit to open $1 |
ATM network Free to use at all ATMs in the US |
Chime Spending account
★★★★★
Go to site |
---|
Fee $0 per month |
APY N/A |
Minimum deposit to open $0 |
ATM network 38,000 fee-free ATMs nationwide |
Compare even more checking accounts
All of Axos Bank’s checking accounts are completely fee-free. You’ll get 24/7 access to its suite of digital banking tools like mobile deposit, online bill bay and a No-Hassle Switch Kit so you can seamlessly transfer funds from another account.
Stand-out features of the Axos Bank Essential Checking account include:
Keep an eye out for these potential drawbacks when opening an Essential Checking account with Axos:
If you want an account at a bank with branches, you’ll want to keep looking. As always, compare your options when choosing a checking account.
When you open an Essential Checking account, you’ll receive a debit card. And though Axos doesn’t have any physical locations, you can use any ATM in the US and get all fees reimbursed.
Axos Bank offers a completely digital experience. As such, its fee structure is almost nonexistent because overhead costs are low. You can make deposits online for free 24/7 and set up automatic bill pay at no extra cost.
Deposit cash into your Axos Bank Essential Checking account by:
Withdraw cash at any domestic ATM. All you need is your Axos Bank Nationwide debit card.
If you’re curious about other options, Axos Bank offers:
★★★★★ — 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.