Axos Bank Review 2024
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Axos Bank is good for consumers looking for an online bank with a free checking account and a wide network of no-fee ATMs.
Highlights
- ATM Fee Refunds
- Reward Checking
- 24/7 Customer Service
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Axos Bank is an online bank that offers a full range of deposit accounts. Its checking account stands out for its unlimited domestic ATM reimbursements and its lack of fees, yet its savings account earns rates that are lackluster. Check Axos Bank to see if they offer a bank account bonus before opening an account.
Pros
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There is no monthly fee or minimum balance requirement for the Essential Checking account.
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Essential Checking customers get unlimited ATM reimbursements in the U.S.
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24/7 phone support is available.
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Axos Bank customers have access to around 91,000 in-network ATMs.
Cons
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Like many other online banks, there is no branch access.
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It’s easy to find a higher rate on a savings account elsewhere.
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Customers don’t have access to peer-to-peer payment tool Zelle.
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Axos Bank banking products
APY last updated between 5/7 and 5/13.
Axos Bank savings overview
A minimum of $250 is required to open the account, but there are no monthly maintenance fees. An ATM card is available upon request.
Pros
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An ATM card is available.
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The savings account doesn’t charge a monthly maintenance fee.
Cons
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The APYs are significantly lower than what you can find elsewhere.
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The $250 minimum opening deposit requirement is slightly higher than the minimum amount at some other banks.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Axos BankAPYAPY last updated between 5/7 and 5/13.APYAPY last updated between 5/7 and 5/13.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee* | None |
| Non-sufficient funds fee* | $0 |
| Monthly maintenance fee** | None |
| Out-of-network ATM fee | None |
| Excessive transaction fee | $10 |
*for Essential Checking
**There may be some exceptions. For instance, the World Checking and World Savings accounts have a $30 monthly service fee if requirements to waive it aren’t met.
About Axos Bank
Axos Bank is a digital bank founded in 2000 and is based in San Diego. It is the banking subsidiary of Axos Financial Inc. and holds more than $20.8 billion in assets. Perks the bank provides include 24/7 phone support as well as a free checking account with unlimited domestic ATM fee reimbursement.
Bank experience
Axos Bank provides Essential Checking customers with quite a nice perk: unlimited ATM reimbursements in the U.S.
Customers can access their accounts through the Axos website or its mobile app to do things like pay bills, deposit checks and transfer funds, as well as check balances and account history. The bank’s mobile app is rated well on Google Play and on the Apple App Store.
Phone support is conveniently available on a 24/7 basis.
How does Axos Bank compare to other banks?
Axos Bank vs. Ally Bank
As online-only banks, neither Axos nor Ally have branches you can visit. Moreover, both banks offer a full suite of deposit products, ranging from CDs to money market accounts. That’s where the similarities stop, though.
Ally Bank generally offers much higher yields on its deposit products, including its CDs and its savings and money market accounts. And those high yields come without the hefty minimum deposit requirements you sometimes find at Axos Bank. That noted, Axos Bank offers unlimited ATM rebates, while Ally only reimburses up to $10 per month.
Axos Bank FAQs
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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