Axos Bank Rewards Checking Account Review 2022: Full Service Online Banking

Katie Stiner

Axos Bank offers full-service online lending and banking products like savings and checking accounts along with investment options, money market accounts, and banking solutions for businesses.

Overall rating


Summary: If you are looking for a banking solution that will satisfy all your banking needs and provide you with an online platform to access services, Axos’s checking account can be a great option.

Axos Bank Rewards Checking Account

axos bank logo


Monthly Fee


Est. APY



Account Opening




Deposits & Withdrawals




Customer Service


Safe & Secure


  • Competitive interest rate
  • Unlimited ATM fee reimbursements
  • No maintenance fees


  • Lack of physical branches
  • Minimum $50 opening deposit
  • Conditions to qualify for interest

Best For

  • Full-service online banking
  • No monthly service fee
  • Bank, borrow, and invest within a single app


HQSan Diego, California, United States
Monthly FeeFree
Min. To Open$50
Min. Deposit For No Fee$0
Paper Statement Fee$5 or free with online banking registration
Overdraft FeeNo overdraft fee
ATM FeeUnlimited domestic ATM fee reimbursements
Debit CardVisa
Branch AccessNone
State RestrictionsAvailable in all US States

In depth review on Axos Bank Rewards Checking Account

Axos Bank is federally regulated and supervised by the Office of the Comptroller of the Currency (OCC). The bank is accredited by Better Business Bureau (BBB) and insured by the Federal Deposit Insurance Corporation (FDIC).

With Axos Bank’s Rewards Checking account you can a high interest rate on your balance which is a great option for people looking to earn interest on their checking account balance. Typically, most checking accounts do not pay the account holder any interest and if they do, the interest is considerably lower.

In order to earn the maximum interest, you must satisfy a few conditions. Every condition unlocks a certain amount of interest. The conditions and the break of the interest they unlock are as follows:

  • Minimum $1,500 in direct deposits per month: You must receive a minimum of $1,500 per month into their checking account. This unlocks 0.40 % interest and this condition must be met to qualify for any additional interest.
  • 10 debit transactions or personal finance manager/account aggregation: You must use your Axos Visa debit card to make at least 10 transactions for a minimum of $3 each or sign up for personal finance manager/account aggregation services. This will give you an additional 0.30 % interest.
  • $2,500 daily average in Portfolio Invest Account (Axos Managed): A $2,500 daily average in an Axos managed Portfolio Invest Account will give you another 0.10 %.
  • $2,500 daily average in a Self Directed Trading Invest Account: A $2,500 daily average in a Self Directed Trading Invest Account will give you another 0.10 %.
  • Consumer loan payments: Using your account to make full monthly payments for an Axos consumer loan will give you 0.10% as well.

Axos Bank Rewards Checking Account is best for

  • Full-service online banking: You are able to access all services online which means they can continue all banking activities on the weekends and holidays.
  • No monthly service fee: You are not charged a monthly fee by the bank and no minimum balance is required to avoid the fee.
  • Bank, borrow, and invest within a single app: Axos offers the flexibility to have your bank accounts all in one app for easy access.

Axos Bank Rewards Checking Account benefits

  • Competitive interest rate: You can earn up to 1.25 % interest on their checking account balance. This interest rate is substantially higher than most checking accounts.
  • Unlimited ATM fee reimbursements: Axos Bank reimburses iyou for ATM fees when withdrawing from their Rewards Checking account without a limit.
  • No maintenance fees: Axos Bank does not impose a fee and does not expect you to maintain a minimum amount of funds in their checking account to avoid fees.

Axos Bank Rewards Checking Account drawbacks

  • Lack of physical branches: Axos Bank is operated completely online. If you require help from bank tellers to conduct any banking activities, Axos Bank may prove to be not ideal.
  • Minimum $50 opening deposit: When opening a Rewards Checking account, you will need to deposit at least $50.
  • Conditions to qualify for interest: The checking account can get you up to 1.0% interest. However, you need to satisfy many conditions (mentioned above) to qualify for the entire 1.0%.

Account opening


Opening a new Rewards Checking account with Axos Bank can be done entirely online with a few simple steps. You’ll requires a Social Security Number, a valid US address which is not a P.O. box and a valid US driver’s license or state ID. You must also be a US citizen or resident alien.



Axos Bank’s Rewards Checking account offers a great banking solution for people looking for a checking account with no fees. The bank does not charge a maintenance fee for this account and does not require the client to maintain a minimum balance.



The Rewards Checking account from offers a variety of features that make it a great choice for anyone looking to open a checking account. Some of the best features of this account are:

  • No maintenance fee
  • No overdraft fee
  • Unlimited ATM fee reimbursements
  • Online Debit card management
  • High APY

Deposits and withdrawals


Axos Bank allows many different ways to deposit money into your checking account. Clients can utilize ACH transfers, mobile check deposits, wire transfers and mailed checks to deposit money in their accounts. The bank does not charge the client any fees when depositing funds into the account.

You can also withdraw money from your checking account using ACH transfers, wire transfers, ATM withdrawals. Axos Bank customers are provided with all traditional methods of depositing and withdrawing funds.

Customer service


If you need any help with your checking account, you can contact the bank by logging into your online banking and initiating a secure chat, sending them a secure message, or by calling their personal banking line. Axos Bank provides 24×7 customer service for their clients’ personal banking needs with the exception of Thanksgiving Day and Christmas Day.

Safe and secure


Axos Bank has taken many measures to ensure that they provide their customers with a safe and secure platform to perform banking activities. They offer a 2-step authentication process for identity verification, automatic log out to prevent unauthorized access and account monitoring to prevent fraud. The bank also utilizes SSL encryption to ensure your data is secure and provides antivirus and malware protection to save your private information from getting exploited.

Is Axos Bank Rewards Checking Account right for you?

Axos Bank’s Rewards Checking account provides a great banking solution for individuals that do not rely heavily on in-person banking. This checking account offers many features such as no fees and high APY that can be attractive to a large number of customers. If you are looking to open a checking account that offers affordable fees and high interest, Axos Bank’s Rewards Checking account can be a great option.