Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Axos Bank Rewards Checking account review

Earn up to 1.25% APY but only if you meet stringent requirements.’s rating: 4.2 / 5.0


This interest-bearing checking account offers mobile banking and nationwide ATM access with no maintenance fees. But a $50 opening deposit is required and no in-person support is available. Plus, you can only earn the full 1.25% APY by opening other accounts with Axos.

$0 per month





Minimum deposit to open


APY1.25% on balances of $0 to $50,000 Interest-earning conditions apply.
Fee$0 per month
Minimum deposit to open$50
ATMsATM fees reimbursed at any ATM nationwide
ATM transaction fee$0
ATM fee rebatesAxos Bank will reimburse all domestic ATM fees you incur within one business day
Out-of-network ATM fee$0
Foreign transaction fee1%
Overdraft fee$0
Nonsufficient funds fee$0
Learn moreApply now

Review by

Shannon Terrell is an editor for Finder who has written over 400 personal finance guides. With a focus on investments and personal finance, she breaks down jargon-laden topics to help others make informed financial decisions. She studied communications and English literature at the University of Toronto.

Expert review

The Axos Bank Rewards Checking account has no monthly fees and offers up to 1.25% APY. However, you must open multiple other Axos accounts to earn the maximum APY.

Axos revised this account’s APY structure in September 2021, making it much harder to earn the maximum amount of interest. Previously, you only needed to meet three requirements, but now you must meet five.

While a $50 deposit is required and customer support is limited, this checking account could be good for those who prefer online banking. But if you’re simply seeking a standalone checking account that doesn’t require you to jump through so many hoops to earn a decent interest rate, explore high-yield checking accounts with more relaxed requirements.

For instance, Quontic Bank High Interest Checking account earns 1.1% APY on balances up to $1 million as long as you make 10 qualifying purchases of $10 or more each month.

How do I open an Axos Bank Rewards Checking account?

  1. Select Apply now.
  2. From the Axos Bank‘s website, click Open an Account.
  3. Enter your full name, email address and mobile number. Create a username and password. Click Start Application.
  4. Enter your residential address, date of birth and Social Security number. Click Save & Continue.
  5. Verify your identity by providing Axos with your driver’s license or state ID number. Click Save & Continue.
  6. Review your submitted account information along with Axos Bank‘s Personal Deposit Account Agreement, Privacy Policy and Paperless Agreement. Click Accept & Submit.

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

Required information

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

Compare Axos Bank Rewards Checking to similar accounts

We gathered a quick comparison of similar accounts to help you decide if Axos Bank Rewards Checking is right for you. For more options, select “Compare accounts” to compare even more checking accounts.

Axos Bank Rewards Checking

HSBC Premier Checking


Finder rating 4.2 / 5


Finder rating 2.7 / 5

Go to site
on Axos Bank's secure site
Go to site
on HSBC's secure site




$50 per month
(can be waived)


1.25% on balances of $0 to $50,000


0.01% on balances of $5+

Minimum deposit to open


Minimum deposit to open


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

Similar to many other popular debit cards, Axos Bank lets you lock and unlock your card right from the app. You can also use the app to request a new card or let the bank know you’ll be traveling internationally. This account also offers these benefits.

  • Tiered APY. You could earn up to 1.25% APY if you meet all of Axos’s requirements.
  • ATM fee reimbursements. Axos Bank will reimburse all domestic ATM fees you incur within one business day of the ATM transaction.

Axos Bank‘s ATM network and fees

The Axos Bank Visa Debit card offers access to any ATM nationwide and offers unlimited fee reimbursement for any surcharges you might pay.

Interest-earning conditions

The APY on this account is tiered, and you can only earn interest if you receive at least $1,500 per month in direct deposits. You’ll earn 0.4% APY if you meet the direct deposit requirement, but you could earn up to 1.25% APY by satisfying all of the following requirements.

Receive at least $1,500 in direct deposits each month0.4%
Sign up for Axos Personal Finance Manager (PFM) or make at least 10 debit card purchases of $3 or more each month0.3%
Open an Axos Invest Managed Portfolios account and maintain an average daily balance of $2,500 or more0.20%
Open an Axos Invest Self Directed Trading account and maintain an average daily balance of $2,500 or more0.20%
Take out a consumer loan from Axos Bank and use your Rewards Checking account to make your full monthly payment0.15%

What should I look out for?

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.
  • Requirements to earn max APY. To earn the maximum APY, you need to receive at least $1,500 in direct deposits each month, make at least 10 debit card purchases of $3 or more each month, maintain an average daily balance of $2,500 in an Axos Self-Directed Trading account and use the checking account to make monthly payments toward an Axos Bank consumer loan.

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.

How do I deposit or withdraw my money?

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.

What other checking options does Axos Bank offer?

In addition to its Reward Checking account, Axos Bank offers the following banking products:

  • Axos Bank Essential Checking. This no-frills checking account comes with no monthly fees and offers ATM fee reimbursements.
  • Axos Bank CashBack Checking. Alongside no maintenance fees and unlimited check-writing privileges, you’ll earn up to 1% cash back on qualifying purchases.
  • Axos Bank 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.
  • Axos Bank 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.

Frequently asked questions

Axos is a digital bank — what does this mean?
Digital banks offer all banking products online and have no brick-and-mortar branches. They often have less fees and higher interest rates since they have less overhead than traditional banks.

Is Axos Bank safe?

Axos Bank is FDIC-insured and takes measures to ensure the protection of your personal information, including malware protection, two-step authentication, SSL encryption and account monitoring for fraudulent activity.

Can I use my Axos Bank Visa debit card when I travel?
You can use your debit card anywhere a Visa card is accepted, but it could cost you at international ATMs. Notify Axos Bank with your travel dates to avoid you card being flagged.

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.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site