Digital provider Axos Bank offers an entirely online application process along with the following:
- Tiered APY. For each condition you meet, you can earn a 0.42% APY — meet all three and you get the full 1.25%.
- ATM fee reimbursements. Axos Bank will reimburse all domestic ATM fees you incur within one business day of the ATM transaction.
- No fees. You won’t pay for overdrafts, insufficient funds or monthly fees to keep this account.
The Axos Bank Visa Debit card offers access to any ATM nationwide and offers unlimited fee reimbursement for any surcharges you might pay.
The potential 1.25% APY associated with this account doesn’t come standard — you receive a 0.42% APY for each of the three account conditions you meet, up to a maximum of 1.25% APY:
- You receive at least $1,000 in direct deposits monthly.
- You use your Axos Visa debit card for 10 transactions at a minimum of $3 per transaction monthly.
- You make an additional 5 transactions at a minimum of $3 per transaction monthly.
The Axos Bank Rewards Checking account has plenty to offer, but be wary of the following drawbacks:
- Opening deposit. An opening deposit of at least $50 is required to open this account.
- Limited customer service. Axos is a digital bank, so customer service is limited to telephone and live chat inquiries.
Looking for an account with a higher APY or in-person support? Explore your checking options for an account that fits your finances and lifestyle.
- Go to Axos Bank’s website and click Open an Account.
- Enter your full name, email address and mobile number. Create a username and password. Click Start Application.
- Enter your residential address, date of birth and Social Security number. Click Save & Continue.
- Verify your identity by providing Axos with your driver’s license or state ID number. Click Save & Continue.
Next, make an opening deposit of at least $50 by mobile check deposit, wire transfer, direct deposit or by mailing a check. You’ll receive your Axos Bank Visa debit card in the mail within five to seven business days.
To be eligible for the Axos Bank Rewards Checking account, you’ll need to meet the following criteria:
- US citizen 18 or older
- Social Security number
- Have a US residential address.
- Deposit at least $50
Have the following information ready before starting your application:
- Name, date of birth and residential address
- Contact information
- Driver’s license or state ID
- External bank account number and routing number of funding account
This checking account offers four ways to access your funds:
- Online. Transfer funds between your Axos checking account and an externally linked account.
- Mobile. Deposit a check to your account with a computer or mobile device at any time.
- ATM. The Axos Bank Visa debit card offers access to all nationwide ATMs.
- Wire transfer. Complete a wire request form and upload the completed form to your Axos account to set up a wire transfer. Incoming transfers are free, while domestic transfers are subject to a $35 fee and international transfers cost $45.
In addition to its Reward Checking account, Axos Bank offers the following banking products:
- Essential Checking. This no-frills checking account comes with no monthly fees and offers ATM fee reimbursements.
- CashBack Checking. Alongside no maintenance fees and unlimited check-writing privileges, you’ll earn up to 1% cash back on qualifying purchases.
- Golden Checking. For ages 55 and older, this account offers unlimited check-writing privileges, no monthly fees and up to $8 in domestic ATM fee reimbursements monthly.
- First Checking. An account designed for children ages 13 to 17, this account comes with no monthly fees, up to 0.25% APY and up to $12 in domestic ATM fee reimbursements monthly.
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.