Axos Bank review (2025): Rewards checking and high-yield savings with no monthly fees
Summary: Founded in 2000, Axos Bank is a San Diego-based digital bank offering banking, lending, and investment products for individuals and businesses. Axos Bank's digital-first approach means its products are tailored to customers who prefer the online experience. Axos offers online wire transfers, biometric identification, mobile deposits, and more to give customers a high level of convenience and security. Axos Bank is included in our ranking of the 10 best online banks of 2025.
Axos One is a combination checking and high-yield savings account with no monthly maintenance fees, minimum balance requirements, account opening fees, or overdraft fees. Checking balances earn 0.51% APY, while savings earn up to 4.66% APY. This account also offers access to expanded FDIC insurance up to $265 million.
To earn the highest advertised savings account rate, you must receive at least $1,500 in total monthly qualifying direct deposits and maintain an average daily balance of more than $1,500, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000.
Axos offers a rewards checking account that earns up to 3.3% APY with no monthly maintenance fees or minimum balance requirements. To earn the highest advertised rate, account holders must meet specific requirements, including having a certain amount of direct deposits per month, maintaining an average daily balance of $2,500 in an Axos Invest account, using a debit card to make Axos loan payments, and more.
Axos offers a free standard checking account with no monthly fees or minimum balance requirements. Though this account does not earn interest, it offers other perks such as no overdraft fees, early direct deposit, and unlimited ATM fee reimbursements.
The First checking account is designed for customers between the ages of 13 and 17 who want to start learning to manage their personal finances with the help of a parent. It earns 0.1% APY with no monthly maintenance fees. This account does have daily transaction limits of $100 for cash transactions and $500 for debit card purchases. Because this is a joint account, parents can monitor their teen's spending, lock and unlock their debit card, set up account alerts, and more.
Axos Bank's cash-back checking account rewards customers with 1.00% back on qualifying purchases. There are no monthly maintenance fees associated with this account and it comes with unlimited domestic ATM fee reimbursements and no ATM fees.
The Golden Checking account is for customers age 55 and over. Account holders earn 0.1% APY on all balances and receive up to $8 in domestic ATM fee reimbursements per month. There is no monthly maintenance fee.
Axos Bank's Summit Savings account is a high-yield savings option that offers a competitive 4.00% APY on all balances with no monthly fees, minimum balance requirements, or minimum opening deposit.
Teen customers can grow their savings with an Axos First Savings account, which earns 0.1% APY with no monthly fees and up to $12 in domestic ATM fee reimbursements per month. This account has a daily cash transaction limit of $100.
CDs terms range from three months to five years, with a $1,000 minimum opening deposit. CD rates are as high as 0.2% APY.
Mortgages: Homebuyers can take advantage of a host of mortgage options offered by Axos with no lender fees and up to 3% annualized cash back.
Personal loans: Axos offers personal loans of up to $50,000 with terms ranging from three to six years.
Auto loans: Axos Bank auto loans can cover purchases and refinancing with no payment for up to 90 days. Terms can be as long as 96 months.
Axos' investment products include managed portfolios and self-directed trading accounts that users can link to their mobile app to monitor in one dashboard.
Axos Invest offers traditional, Roth, and Rollover IRAs for customers who want to save for their golden years in a tax-advantaged account.
Axos Bank's products aren't limited to consumer accounts; it also offers banking products for small businesses, including a business checking account, business interest checking, business savings account, business money market account, and more.
In general, Axos Bank charges few fees. However, customers may incur fees for specific services, such as wire transfers. There are also early withdrawal fees for CDs.
There are a few major perks and drawbacks customers should note before banking with Axos Bank.
Pros:
No monthly account fees: Axos doesn't charge fees for monthly account maintenance.
Unlimited ATM reimbursement: Axos offers unlimited domestic ATM fee reimbursements for its Rewards Checking, Cashback Checking, and Essential Checking accounts. Golden Checking account holders get up to $8.00 per month in domestic ATM fee reimbursements.
Rewards checking account option: Axos offers rewards and cashback checking account options for customers who want to maximize their earning potential.
Cons:
No physical branches: Axos is an online bank, which means there are no physical branches for in-person banking.
Does not offer Zelle: Axos is not currently partnered with Zelle. However, it does offer peer-to-peer payment options through its "Axos Pay It Now" feature.
Strict requirements for rewards checking account: To qualify for the maximum rewards checking account rate, customers must meet a long list of requirements, including having a certain number of monthly direct deposits, maintaining an average daily balance of $2,500 in an Axos Invest account, and using your debit card to make Axos loan payments.
Customer support representatives for personal banking customers are available via secure messaging or telephone 24 hours a day, 7 days a week (excluding Thanksgiving Day and Christmas Day). For help with loan servicing, representatives are available Monday through Friday, from 8:00 a.m. to 5:00 p.m. PT.
For questions regarding your Axos home loan, representatives are available Monday through Friday from 7:00 AM to 8:00 PM PT and 8:00 a.m. to 2:00 p.m. PT on Saturdays.
Personal loan and auto loan representatives are available Monday through Friday from 8:00 a.m. to 4:30 PT. Small business banking customers can reach a customer service representative on weekdays from 6:00 a.m. to 6:00 p.m. PT, and investment property lending specialists are available on weekdays from 9:00 a.m. to 5:00 p.m. PT.
Axos also offers an automated chat feature.
The Axos Bank mobile app is available for download on the App Store and Google Play and has a rating of 4.7 and 4.5, respectively. Customers can use the app to monitor their transactions, loans, and investments, transfer money between accounts, send money to friends, pay bills, and more.
Yes. Axos Bank is backed by the Federal Deposit Insurance Corporation (FDIC), which means your deposits are insured up to the $250,000 federal limit.
Axos Bank's routing number is 122287251.
Deposits can be made via ACH transfer, wire transfer, mobile deposit, ATM deposit, and direct deposit.
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