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Axos Bank: Review of Checking, Savings and Personal Loans

In this Axos Bank Review, we look at high-interest checking and savings accounts, nationwide free ATMs, and Axos personal loans.

Axos Bank reviews show the mobile app is rated a 4.7 out of 5 stars in the Apple Store and a 3.5 out of 5 stars in the Google Play Store.

As a pioneer in the online banking industry. Founded in 1999 as the Bank of Internet USA, Axos Bank is among the first digital banks.

Customers have a range of innovative products and services to choose from including a high-interest savings account, rewards and cash back checking accounts, business checking and savings account, free ATMs nationwide as well as low-interest personal loans, mortgage and business loans.

Today, Axos Bank is headquartered in San Diego, CA, with offices in Laguna Hills, CA; Los Angeles, CA; Overland Park, KS; Omaha, NB; Las Vegas, NV; New York, NY; Columbus, OH; Salt Lake City, UT. But don't worry, Axos Online Banking makes it easy for customers nationwide to access a variety of full-service financial products.

With more than 50 years of service under its belt, Axos Bank has maintained consistent customer service efforts along with its lending commitment to small business owners.

Axos Online Banking – Types of Accounts

You can become a bank customer without ever stepping foot in a branch. Axos Bank (formerly known as the Bank of Internet) offers a variety of financial products that include:

  • Personal and Business Checking
  • Personal and Business Savings Accounts
  • Money Market Accounts
  • Certificate of Deposit (CDs)
  • Credit Cards
  • Personal, Auto, Mortgage and Business Loans
  • Manged and Self-Directed Investments

Axos Checking Accounts

Axos Rewards Checking

The Axos Rewards Checking account is one of the best high interest checking accounts allowing you to earn up to 1.25% APY that only requires a $50 initial deposit. The only drawback is that balances above $150,000 do not earn interest.

Several features you might find valuable are no monthly service charge and free Nationwide ATMs with unlimited domestic ATM reimbursements.

Rewards Checking Features

  • Up to 1.25% APY
  • Zero monthly maintenance fees
  • Zero overdraft or NSF fees
  • Zero minimum monthly balance reqs
  • Unlimited domestic ATM fee reimbursements
  • Online debit card management
  • Zero Minimum Balance Requirement
  • Only $50 to open an account
Learn More

Axos Cashback Checking

The Axos Cashback Checking account is one of the best cashback checking accounts allowing you to earn up to 1.40% cashback on all signature-based debit card transactions (transactions for which you select “credit” at the point of sale).

The only drawbacks are that you can only get 1% cashback in months when the account’s average daily collected balance is $1,500 or greater and that cashback earnings are capped at $2,000 per month.

Cash Back Checking Features

  • Earn up to 1.40% cashback on signature-based purchases
  • Unlimited domestic ATM fee reimbursement
  • No monthly maintenance fees
  • Unlimited check writing privileges
  • Only $50 to open an account
Learn More

Axos Golden Checking

The Axos Golden Checking account is specifically designed for people age 55 and older. A major perk of this senior checking account is the 0.10% APY on all balances plus account holders receive a pack of free checks twice per year, every six months.

Axos Golden Checking account does not charge overdraft fees. But one drawback of the Golden Checking account is that customers only get up to $8 in domestic ATM reimbursements each month.

Golden Checking Features

  • 0.10% APY* on all balances
  • Up to $8 domestic ATM fee reimbursements per month
  • Free personal checks
  • No minimum monthly balance requirements
  • No overdraft or non-sufficient fund fees
  • Only $50 to open an account
Learn More

Axos First Checking Checking

The Axos First Checking account teaches your child good money management skills while offering parents the security to control transactions with a joint checking account. The teen checking account is eligible for kids ages 13-17 years old as an introduction to banking.

This checking account earns 0.25% APY on all balances and features up to $12 in domestic ATM reimbursements each month. There are no fees for this teen checking account, but it does have daily transaction limits of $100 cash and $500 debit.

First Checking Features

  • For ages 13 – 17 years old
  • Earn 0.10% APY*
  • Up to $12 domestic ATM fee reimbursements per month
  • No monthly maintenance fees
  • No overdraft or non-sufficient funds fees
  • Daily transaction limits ($100 cash, $500 debit)
Learn More

Axos High-Yield Savings Accounts

Axos High Yield Savings

Axos Bank’s High Yield Savings account gives you a chance to grow your money faster with a high-interest savings account that earns 0.61% APY on balances under $25,000; 0.25% APY on balances between $25,001 and $100,000; and 0.15% APY on balances more than $100,000.

There are no monthly maintenance fees plus customers can request a free ATM card which is a rarity among savings accounts.

High Yield Savings Features

  • Earn up to 0.61% APY*
  • Free ATM card upon request
  • Suite of digital money management tools
  • No maintenance fees
  • No monthly minimum balance requirements
  • $250 minimum balance to open an account
Learn More

High Yield Money Market Account

Axos Bank’s High Money Market account gives you the security of a traditional savings account with the advantage of high-interest rates and limited transactions like check writing privileges. There are no fees and no minimum balance requirements.

As with the bank’s High Yield Savings account, Federal Regulation D limits certain withdrawals in this account to six per month. An excess transaction fee of $10 applies to additional transactions.

High Yield Money Market Features

  • Earn 0.25% APY*
  • Check writing privileges
  • Access your savings with a debit card
  • No maintenance fees
  • No monthly minimum balance requirements
  • $1000 minimum balance to open an account
Learn More

Axos Bank Personal Loans

Axos Bank Personal Loans

Axos Bank offers personal loans up to $35,000 with rates starting as low as 6.49% APR. In a matter of minutes, you can get a prequalified rate at Axos Bank with a soft credit pull that will not affect your credit score.

Get funded with an Axos Bank personal loan within 2 days of accepting a final loan offer and take up to 5 years to repay. There is no collateral required for the Axos Bank personal loan plus customers can repay the loan early with no prepayment penalty.

The main drawback of the Axos Bank personal loan is that only applicants with good credit are considered.

Personal Loan Features

  • Loan amounts from $5,000 to $35,000
  • Funding within 2 days of acceptance of final loan offer
  • APRs starting at 6.49%
  • Term options: 12, 24, 36, 48 and 60 months (1-5 years)*
  • Funds deposited directly into checking or savings account
  • Flexible lending criteria
  • Preliminary offers have no impact on credit score
  • No collateral required
  • No pre-payment penalties
Learn More

What we like most about Axos Bank

Axos Bank brings full-service banking online. While there are a growing number of digital banking services like Upgrade Banking and SoFi Bank, challenging traditional banks – they are typically limited to checking and savings accounts.

Axos Bank offers several checking accounts online along with full-service financial products for individuals and businesses that span deposit accounts and loans.

Axos Bank understands that every individual customer has unique needs and wants. Axos Bank has the financial products most customers will need at some point in time.

Finally, Axos Bank is hands-down the best old-school online bank dating back to the year 2000 with fantastic account features like:

  • Nationwide ATM access. Axos Bank offers free ATM withdrawals at approximately 91,000 convenient locations across the nation.
  • Free checking. There's no monthly service charge for checking, savings, or money market accounts.

What we like least about Axos Bank

With a variety of banking and financial products, including managed and self-directed investments it's hard to critique Axos Bank. However, the biggest drawback to Axos Bank is the lack of physical branches.

Most people like the convenience of mobile banking but there's nothing like being able to physically visit a brick-and-mortar branch for in-person customer service. The good news is that Axos Bank is currently working on opening more branches in addition to their current locations of:

  • Laguna Hills, CA
  • Los Angeles, CA
  • Overland Park, KS
  • Omaha, NB
  • Las Vegas, NV
  • New York, NY
  • Columbus, OH
  • Salt Lake City, UT

Axos Bank San Diego

Axos Bank headquarters is in San Diego, CA located at:
4350 La Jolla Village Drive, Suite 140
San Diego, California 92122

As an online bank, customers of Axos mainly access their accounts online or through its banking mobile app with features like:

  • Mobile check deposits
  • Mobile bill pay
  • Funds transfers
  • Account balances
  • Transaction history

Axos Bank Routing Number

Axos Bank Routing Number is 122287251. A routing number is a nine-digit security code that identifies banks. Short for American Bankers Association, the ABA routing number was a system invented in 1910 as a way to tell one bank from another.

Today, ABA routing numbers make it possible for banks to transfer money to and from your accounts for transactions like wire transfers, direct deposits, and automatic bill payments.

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Disclaimer: Our goal is to provide the most relevant and current information. However, the information is for informational purposes only and is not intended to be personal financial advice.

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