Axos Bank Review: Online Banking with Rewards Checking

Axos: High-reward checking, no fees, and ATM rebates for savvy online bankers.

Axos Bank Review: Online Banking with Rewards Checking

Axos Bank, known for its robust online banking services, provides a unique blend of financial products that cater to a tech-savvy clientele. This concise overview will delve into the bank's primary features, customer benefits, and product summary.


  • Rewards Checking Account: Offers an APY of up to 3.30% on balances up to $50,000, with no monthly fees and unlimited ATM fee reimbursements.
  • High-Yield Savings Account: A free account with an APY of 0.61% for balances under $25,000. The rate adjusts for higher balances, providing flexibility for savers.
  • Certificates of Deposit (CDs): Axos offers a range of CD terms from three months to five years, though rates are relatively low compared to competitors.
  • Customer Experience:
    • Online and mobile banking capabilities.
    • 24/7 customer service via phone, automated chat, secure messaging, and Twitter.
  • ATM Fee Rebates: Unlimited reimbursements for fees charged by domestic ATM operators.


  • High APY for Checking: The Rewards Checking account's competitive APY and the lack of monthly fees make it an attractive option for those who can meet the account's criteria.
  • No Monthly Fees: Axos emphasizes cost savings with no monthly service fees across its checking and savings accounts.
  • Extensive ATM Access: Customers enjoy broad ATM access and rebates on fees, enhancing the convenience of banking virtually anywhere.
  • Investment Opportunities: Bonus interest rates are available for customers who engage with Axos' investment products.

Product Summary:

Axos Bank distinguishes itself in online banking with its Rewards Checking account, offering high-interest rates and financial incentives for customers who meet certain activity requirements. While its savings and CD rates may not lead the market, the absence of monthly fees and the convenience of comprehensive online banking services position Axos as a compelling choice for consumers seeking an integrated digital banking experience. The bank's focus on rewarding customer engagement with higher interest rates and ATM fee reimbursements underscores its commitment to providing value and convenience. However, those looking for the highest yields on savings and CDs may find better options elsewhere. Axos shines for customers who prefer an all-online banking platform with the added benefits of rewards checking.

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