Banking and Finance

Online Banking Review | AXOS Bank

July 27, 2021

About AXOS Bank

As a well-known online bank that offers all the banking services you could need, AXOS Bank is a good fit for those who want modern money management tools. The Axos Bank USA Rewards Checking account is one of the top online checking accounts available thanks to its great interest rate, ATM access, and other benefits. Learn more about AXOS accounts in this AXOS Bank review to see if they are worth opening!

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Pros & Cons


  • Unlimited ATM Fee Refunds 

One of the biggest concerns people tend to have about online banks is actually being able to access their money. No matter using an in-network or out of network ATM, AXOS Bank makes it easy to withdraw your money at any time.

  • Cash Back Rewards

You can earn up to $2,000 per month in cashback with the Axos Bank Cashback Checking Account for signature debit card purchases. Login your AXOS Bank account, and you can see how much you've earned.


  • No credit accounts

If you are looking for a credit account, AXOS Bank might not be your option. AXOS only offers a debit card as it main checking service.

  • Lower APY under $10,000

The rate of 1.30% APY being paid on the High Yield Savings Account is lower than what is being offered on savings accounts by competing online banks. If you have over $10,000, however, you can get a great 2.15% rate from UFB Direct from Axos.


$100 will be directly put into your account when you open one. Opening up a basic business checking account will be awarded a $100 bonus!

Accounts & APY

Rewards Checking

Rewards Checking comes with 0 monthly maintenance fees, or overdraft or non-sufficient funds fees. There are unlimited domestic ATM fee reimbursements. And though there is a $50 minimum initial deposit, there is no ongoing minimum balance requirement!

Essential Checking

Essential Checking is a 100% free checking account. Not only does it not require monthly maintenance fees, but there are also no overdraft or non-sufficient funds fees. There is no minimum account balance required, and it comes with unlimited domestic ATM fee reimbursements for fees charged by other banks’ ATMs.

CashBack Checking

This account enables cashback rewards for transactions made through it. Though there is a $50 requirement to open the account, to earn the full 1% cashback, you must maintain a minimum average daily collected balance of $1,500. If you don’t maintain that minimum, the cashback rewards rate drops to 0.50%, which is still not a bad deal.

AXOS Checking Accounts
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Minimum Checking/Saving account Requirement

AXOS requires no minimum account balance to enjoy unlimited domestic ATM fee reimbursements. However, there is a $50 minimum initial deposit to open up a new checking account, which is still a good deal for all the services it offers.


Overdraft Fee

AXOS bank charges $0 overdraft fees or insufficient funds fees. AXOS understands that there is no worse feeling than being charged when you have no money to pay for it.

Wire Transfer Fee

AXOS charges 0 domestic wire transfer fees. No matter incoming and outgoing, you don’t have to worry about paying extra for transactions!

Foreign Transaction Fees

International wire fees for incoming is free, while AXOS charges $45 for outgoing transfers.

Customer Service 

Have questions? Just ask! AXOS’s customer service representatives are available to help. For nationwide non-banking questions, please call 1-877-On Your Side (1-877-669-6877).

AXOS Customer Service contact number
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