Axos Bank’s suite of bank accounts

Manage your cash completely in the digital realm.

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Axos Bank

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Formerly Bank of the Internet, Axos Bank has been championing innovation since its conception on July 4th, 2000, eschewing traditional banking in favor of low overhead costs and almost nonexistent account fees. But you’ll need to be comfortable communicating entirely online if you don’t live near one of its six office locations.

What banking products does Axos Bank offer?

Name Product APY ATMs Fee
Axos Bank Rewards Checking
1.25% on balances of $0+ with $1,000+ in direct deposits, 10 $3+ debit card transactions and 5 additional account transactions per month
ATM fees reimbursed at any ATM nationwide
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
Axos Bank Essential Checking
ATM fees reimbursed at any ATM nationwide
No fees. Unlimited domestic ATM fee reimbursements.
Axos Bank Business Interest Checking
0.80% on balances of $0 to $4,999,999.99
ATM fees reimbursed at any ATM nationwide
(can be waived)
Earn up to 0.80% APY and pay no monthly maintenance fee with an average daily balance of at least $5,000.

Compare up to 4 providers

Name Product Interest rate (APY) Fee Minimum deposit to open
Axos Bank Business Savings
$5 per month
(can be waived)
A business savings account with a low minimum deposit.
Axos Bank Business Premium Savings
This digital savings account includes no monthly maintenance or average daily balance fee.

Compare up to 4 providers

Axos has options to help a wide variety of customers navigate their finances.


Its personal checking and savings accounts come with a host of online money management tools like free deposit, online bill pay and a No-Hassle Switch Kit that can help transition you from your current bank.


Axos Bank offers a suite of small business products and borrowing options for bigger commercial companies.

Commercial accounts

  • Analyzed Business Checking. It’s offered for small business use too, but Axos recommends you pair it with Treasury Management services to cover all your accounting needs. It comes with an ECR instead of an APY. There’s no minimum balance requirement, but you’ll have to pay a non-waivable $15 monthly maintenance fee. Deposit $100 to get started.
  • Certificate of Deposit Account Registry Service (CDARS). Meant for businesses that want CD-level returns on hefty investments. Opening an account requires a deposit of $100,000. Get partnered with a banking professional and expect finite term lengths that vary by case. Deposits are FDIC-insured up to $50 million.

Other products

  • Mortgages. Get a loan to purchase or refinance a home or take out a loan based on equity. There’s no lender fee.
  • Personal loans. Expect fixed monthly payments with no collateral required. Get approved in two days for loan amounts ranging from $5,000 to $30,000.
  • Auto loans. Borrow from $10,000 to 90,000 to finance your car. Rates start at around 4.45% and there’s no penalty if you choose to pay it off early.
  • Commercial loans. Finance new equipment or get cash to build your next real estate endeavor. Expect flexible negotiations and “common sense underwriting.”

How does it compare to other banks or services?

Axos Bank was launched as a digital company in 2000 and still holds true to its initial values — a lean business model offering technology-based financial services. It has six offices around the country, mostly on the west coast, but plans to expand soon.

It doesn’t rank on the FDIC’s list of Top 50 Bank Holding Companies by Total Domestic Deposits, but it’s not as established as giants like Bank of America or Wells Fargo. It doesn’t have a network of Axos-brand ATMs, but reimburses nearly all domestic withdrawal fees to make up for that.

Why should I open an account at Axos Bank?

Axos Bank may be best for people who are comfortable with a digital banking experience. Some perks of signing on include:

  • Few to no fees. In part due to its low overhead costs, users can expect few extraneous charges.
  • Easy transfer. Axos Bank will send you a checklist for moving your money over to one of its accounts — it’s called the No-Hassle Switch Kit.
  • Solid ATM reimbursement policy. Most of its checking accounts offer unlimited reimbursement for non-domestic ATM withdrawal, which helps make up for its lack of ATM network.

What should I look out for?

Like any bank, it’s not perfect. Make sure you can live with its potential drawbacks, which include:

  • Limited in-person help. If you like sitting down with a banker face-to-face, you may want to look elsewhere since Axos is focused on the online and mobile experience.
  • Savings accounts are less competitive. You can likely get higher APY savings rates online elsewhere, like in Goldman Sachs’s Marcus account or Ally’s online savings account.
  • Foreign currency conversion rate. You can technically use your debit card any place that accepts Visas overseas, but you’ll be charged extra for the currency conversion.

Axos reviews and complaints

Axos Bank has been accredited by the BBB since 2011, where it has an A- rating. There aren’t any complaints recorded against it in the Consumer Financial Protection Bureau, though it is a member of the FDIC.

Across the web, customer frustrations indicate operational errors and random account closures. Two poor reviews on Trustpilot report problems with credit card customer service.

Axos customer service

Connect with Axos’s customer care through:

  • Phone: Reach Axos Bank‘s customer service at 888-502-2967.
  • Fax. Send documents to 858-350-0443.
  • Snail mail. You can send a note to:

    Axos Bank
    P.O. Box 509127
    San Diego, CA 92150

Bottom line

If Axos’s low-fee, digital setup appeals to you, it might be a good place to store your cash. But if you’re hoping for better access to brick-and-mortar service, shop around to find a better fit.

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