Axos Bank is an online bank bursting with products and services. Offering multiple checking, savings and lending options, it has something for everyone — if you like digital banking. It features decent APYs on savings, no-fee checking, ATM reimbursements, a very large ATM network, specialty accounts, CDs, mortgages and personal loans. It also accepts cash deposits at Green Dot locations, which isn’t a given for online banks. But look elsewhere if you prefer in-person support, and the bank’s CD rates are below national averages.
Best for: Those who prefer digital banking and specialty checking accounts.
Axos is an online bank and is FDIC-insured. If you’re comfortable doing all your banking digitally, Axos could be a great option.
None of its checking accounts have monthly maintenance fees, and only the senior checking account has an opening deposit requirement. It also offers 24/7 customer support, a very large 90,000-ATM network for fee-free cash withdrawals and most accounts offer ATM reimbursements for out-of-network ATM fees.
But if you’d rather have branch access, consider a bank like Chase or PNC. Axos doesn’t get the greatest customer reviews, either. Most of its customers on Trustpilot and Reddit complain of poor customer service and a poor mobile app for Android users.
Axos offers specialty accounts for teens and seniors, as well as multiple savings options like a high-yield hybrid account, certificates of deposit and a money market account. It also provides personal loans, mortgage options and business accounts
Compared to other online banking options, Axos has significantly more products and services than most.
Axos offers multiple checking accounts, including a hybrid all-in-one with checking and savings, as well as specialty accounts for seniors and kids banking.
None of Axos’ accounts charge monthly maintenance fees. The checking accounts feature early direct deposit, a large ATM network for fee-free cash withdrawals, and most provide out-of-network ATM reimbursements.
Axos doesn’t have as much variety in savings as its checking options, and its savings accounts don’t have the most competitive rates we’ve seen.
To be blunt, Axos CDs are not great. The rates are significantly lower than average, and you’re likely to find better rates almost anywhere else.
The highest APY is 0.2%, and that rate is on all terms from 3 to 60 months. You’ll also need to meet a $1,000 opening deposit requirement — that’s pretty typical, but for such a low rate, it’s not great.
Axos isn’t a one-trick pony. It has many of the typical banking services and products you’d expect from a long-standing institution.
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.
The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.
The Finder Score analyzes hundreds of CDs from more than 100 institutions. It takes into account the product's interest rate for available terms and opening deposit requirements - this gives you a simple score out of 10.
Different banks and credit unions offer CDs for various lengths of time, ranging from as short as seven days to as long as 20 years. For our ratings, we consider the term lengths that the FDIC uses in its monthly updates on national rates.
If a bank or credit union doesn’t offer a CD for a specific term used by the FDIC, we don’t penalize it: Instead, we simply don’t rate it. Each of the standard term lengths has its own APY rating based on the FDIC’s average rates.
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.07 out of 5 stars, based on 141 customer reviews |
| Trustpilot score | 1.7 out of 5 stars, based on 203 customer reviews |
| App Store Score | 4.7 out of 5 stars, based on 13,300 customer reviews |
| Google Play Score | 4.5 out of 5 stars, based on 6,200 customer reviews |
| Customer reviews verified as of | 08 November 2024 |
Most banks don’t have glowing reviews, and Axos is no exception.
A lot of Axos’ feedback on the Better Business Bureau (BBB) and Trustpilot is poor. Many reviews cite poor customer support, long hold times over the phone and difficulty contacting a representative at all, as well as issues closing accounts and accounts suddenly being closed.
Among the few positive reviews, customers mention the large ATM network and fast direct deposits. Many praise the business bank accounts, low rates on loans and the APYs on savings accounts.
On app stores, the Axos All-In-One Mobile Banking app has a lower Google Play star rating and than Apple’s store. From the looks of reviews, the app performs significantly better on Apple devices, as many Google Play reviews complain of issues logging in, slow loading times, bill payment issues and constant app crashes.
Redditors are mostly unhappy with their Axos experience. On r/Banking, a thread titled “Has anyone tried Axos bank?” has many current and past customers expressing a similar sentiment: Axos used to be awesome, but now it’s not so great.
In another Axos-related thread, one user emphasizes how horrible the Axos mobile app is, stating, “[The] app can barely function — it’s very slow, doesn’t always load and completely didn’t work on many occasions where I needed it.”
Many customers say it’s a struggle to close accounts or earn account bonuses, and that the Axos Rewards Checking account used to have significantly better rewards. Redditors also mention that Axos uses Yodlee to connect to external banks instead of Plaid and that the process requires a lot of information, of which customers are not a fan.
Yes, Axos is a legit bank that is FDIC-insured. It launched in 2000 and used to be known as Bank of Internet USA until it changed its name to Axos in 2018.
No, Axos does not support Zelle currently. However, Zelle has a separate app you can download, and you can also compare banks that support Zelle.
An online teen account with no monthly fees and a vast ATM network.
An interest-bearing checking account with no maintenance, overdraft or insufficient funds fees.