Skip to Main Content

Axos Bank Review 2022

Updated December 2, 2022
Bankrate logo

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

At a glance

4.4
Rating: 4.4 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.6 stars out of 5

Checking

Rating: 4.7 stars out of 5

Savings

Rating: 4.9 stars out of 5

MMA

Rating: 3.8 stars out of 5

About Bankrate Score

Hover for more

Overview

Axos Bank is good for consumers looking for a solid online bank with a wide network of no-fee ATMs.

Highlights

  • ATM Fee Refunds
  • High APY
  • Reward Checking
Compare offers
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

Axos Bank is an online bank that offers checking accounts, a savings account, a money market account and CDs.

Pros

  • Checkmark

    There is no monthly fee or minimum balance requirement for the Essential Checking account.

  • Checkmark

    Essential Checking customers get unlimited ATM reimbursements in the U.S.

  • Checkmark

    Axos Bank’s savings account pays a competitive rate.

Cons

  • You need at least $250 to earn interest with the High Yield Savings account.

  • Like many other online banks, there is no physical branch access.

Axos Bank bank products

4.9
Rating: 4.9 stars out of 5
Bankrate Score

Axos Bank savings overview

Axos offers the High Yield Savings account, which pays a competitive APY. Unlike some other online banks, an ATM card is available upon request.

At least $250 is needed to open the High Yield Savings account.

There are no monthly maintenance fees or minimum balance requirements.

Pros

  • Checkmark

    There are no rate tiers on this account, so the APY is the same regardless of balance.

  • Checkmark

    An ATM card is available.

  • Checkmark

    The High Yield Savings doesn’t charge a monthly maintenance fee.

Cons

  • The $250 minimum opening deposit requirement is higher than the amount needed at some other banks.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.4 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

Axos Bank provides Essential Checking customers with quite a nice perk: unlimited ATM reimbursements in the U.S.

The bank’s mobile app is rated well on iOS. While no single feature stands out in its mobile banking app, you can use it to take care of basic tasks, such as check balances and view and activate cash back offers.

About Axos Bank

Axos Bank is a digital bank that was founded in 2000 and is based in San Diego. It is the banking subsidiary of Axos Financial Inc.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.