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Axos Bank Essential Checking account

It’s free to maintain and you won’t be dinged for overdrafts.’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.

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$0 per month





Minimum deposit to open


Fee$0 per month
Minimum deposit to open$0
ATMsATM fees reimbursed at any ATM nationwide
ATM transaction fee$0
ATM fee rebatesUnlimited domestic ATM fee reimbursements
Foreign transaction fee1%
Overdraft fee$0
Nonsufficient funds fee$0
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Review by

Amy Stoltenberg manages newsletters at Finder, gathering the best articles each week to help subscribers save money and stretch their hard-earned dollars. She also handles the Twitter account, dabbling in Instagram and Facebook too. When she's not on the computer, you can find her exploring Los Angeles with a good book in tow. She studied writing at Savannah College of Art and Design and has been featured on the Zoe Report.

Expert review

Axos Bank 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.

How do I open an Axos Bank Essential Checking account?

If the Essential Checking account appeals to you, take the following steps:

  1. Select Apply now.
  2. From the Axos website, click Personal in the top right corner.
  3. The landing page will suggest its Essential Checking account right away. Click Open an Account.
  4. Indicate whether you’re a new customer, existing customer or a returning applicant.
  5. If it’s your first time, you’ll create an account to get the process rolling. Input details like your name and contact info, then hit Start Application.
  6. Choose what account type you’re interested in.
  7. Next, either upload a photo of your ID for quick and automatic data entry or manually fill it out.

After Axos receives your Social Security information and birth date, you’ll submit the application.

Required information

Here’s what you’ll need to keep nearby when applying:

  • Social Security number
  • Valid US ID like a driver’s license or state ID
  • Valid US address, but not a P.O. box


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.

Compare Axos Bank Essential Checking to similar accounts

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

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on Axos Bank's secure site
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on Chime's secure site





Annual Percentage Yield (APY)


Annual Percentage Yield (APY)


Minimum deposit to open


Minimum deposit to open


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

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:

  • No minimum monthly balance required. Don’t worry about getting dinged when you’re running low on cash.
  • No initial deposit amount. You can open an account with just a dollar.
  • No overdraft fees. You won’t pay any overdraft fees with this account.
  • Unlimited domestic ATM fee reimbursement. Axos Bank doesn’t have its own ATMs, so it will reimburse you for all fees associated with using other domestic machines.

What should I look out for?

Keep an eye out for these potential drawbacks when opening an Essential Checking account with Axos:

  • It doesn’t earn interest. Essential Checking is Axos Bank‘s lowest tier option for adults and offers no APY to help grow latent cash over time.
  • Cash deposits are discouraged. It asks clients not to send cash deposits. If you do, it isn’t liable for lost or stolen money.
  • No in-person help. Axos Bank is entirely online, so you’ll need to be comfortable calling customer service to work out issues or ask questions.

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.

Axos Bank‘s ATM network and fees

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.

How do I deposit or withdraw my money?

Deposit cash into your Axos Bank Essential Checking account by:

  • Direct deposit. Set up automatic transfers from your employer.
  • Mobile. Download the Axos Bank for Nationwide app and snap a pic of your check to deposit money directly into your account.
  • Online. Take a picture of a check and upload it to your account through a laptop or home computer.
  • Cash transfer. Visit a qualifying partner store and ask them to load the cash into your account at the register.
  • Bank-to-bank transfer. ACH funding lets you move money electronically from another bank account.

Withdraw cash at any domestic ATM. All you need is your Axos Bank Nationwide debit card.

  • Use a domestic ATM
  • Cash a check via mobile deposit
  • Set up direct deposits
  • Bank-to-bank transfer

What other checking options does Axos Bank offer?

If you’re curious about other options, Axos Bank offers:

  • Axos Bank First Checking. A starter account for those ages 13 to 17. It only earns 0.25% per month and comes with daily transaction limits to help teach financial responsibility.
  • Axos Bank Rewards Checking. This account earns up to 1.25% APY, but only if you meet stringent requirements.
  • Axos Bank CashBack Checking. Get 1% cash back on eligible purchases by maintaining a monthly balance of at least $1,500.
  • Axos Bank Golden Checking. Designed for individuals 55 and over, there’s a 0.1%, but domestic ATM fees are only reimbursed for $8 a month.
  • Axos Bank High Yield Savings. A debit card is available upon request. Earn an APY of 1.3%.
  • Axos Bank High Yield Money Market account. Write checks and request a debit card, plus earn a 1.05% APY.

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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