Axos Bank Review 2023
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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.

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 = 5/5
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 Savings rating = 5/5
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 Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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.
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.
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.
Axos Bank banking products
FEATURES
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of 9/30/2023
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 higher than the amount needed 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 BankAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

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 = 5/5
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 |
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 $18.4 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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