Axos Bank Review 2026: Checking and Savings
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
Axos Bank, formerly called Bank of Internet USA, is an online bank that does away with many fees on its accounts, including its high-yield savings, rewards checking and combination checking and savings accounts. As an online-only bank, Axos doesn’t have in-person customer service options, though it’s accessible through a 24/7 phone line, automated online chat, secure online messaging and social media. If in-person customer service isn’t important to you, consider giving Axos Bank a closer look.
No monthly fees.
Large, free, nationwide ATM network.
24/7 customer service by phone.
Overdraft buffer.
Competitive checking account.
No branch access.
Product reviews
Savings
A free account with different rate tiers. This savings account is part of the Axos ONE combination account. Like its checking counterpart, the ONE Savings account doesn’t charge a monthly fee and doesn’t have a minimum opening deposit requirement.
Must meet checking account requirements to get the higher-tier APY. The ONE Savings account’s higher-tier 4.21% APY is on par with the best high-yield savings accounts. But you’ll need to meet one of two sets of requirements: The first option is to keep an average daily account balance of at least $1,500 and receive at least $1,500 total in monthly direct deposits in ONE Checking. The second option is to maintain an average daily balance of at least $5,000 and receive monthly external transfers or checks of at least $5,000 in ONE Checking. The APY applies to balances below $500,000; amounts at or above that earn slightly less.
Without meeting the requirements, your balance will earn 1.00% APY. That’s higher than what traditional big banks offer, but not competitive with the best savings accounts.
This account did not factor into our overall rating of the bank.
Savings
A free account with a good APY. Summit Savings earns a competitive annual percentage yield on all balances. There are no deposit or purchase requirements needed to earn its high rate. There is also no minimum to open the account and no monthly fee. There are other online savings accounts that earn higher yields, but if you prefer to keep your checking and savings at the same bank, this is a solid option.
This account is the savings account that factored into our overall rating of the bank.
» For more great APYs, see our picks for the best high-yield online savings accounts
Axos Bank® Summit Savings
Checking
No fees. The ONE Checking account from Axos is part of the bank’s combined checking and savings bundle. With ONE Checking, there is no monthly fee and no minimum balance requirement. There’s also no minimum deposit required to open an account.
Potentially challenging requirements to earn interest. To earn the 0.51% APY, you must satisfy one of two sets of requirements. If neither set is satisfied, the account doesn't earn interest.
The first option includes:
Receive at least $1,500 total in monthly direct deposits.
Maintain an average daily account balance that's more than $1,500.
The alternative set of requirements includes:
Receive monthly qualifying deposits of at least $5,000 total. Deposits can be online (ACH) transfers or wire transfers from external accounts or check deposits.
Maintain an average daily account balance that's more than $5,000.
This account did not factor into our overall rating of the bank.
» Learn about another combination checking and savings account in our SoFi Review.
Axos ONE® Checking
Checking
No fees. The Axos Checking account has no monthly fees, no minimum balance requirements and no overdraft fees.
Solid interest rate with direct deposit. Customers who receive at least $1 per month in qualifying direct deposits (such as a paycheck or government benefits) will earn 1.00% APY on their account balance. No interest will be earned if the direct deposit requirement is not met.
Receive early direct deposit. You can receive your paycheck up to two days early with direct deposit.
» See more: Banks with early direct deposit
Large ATM network and unlimited ATM fee reimbursements. Axos customers have access to more than 95,000 fee-free ATMs. The bank also provides unlimited reimbursements for out-of-network domestic ATM fees, which is a rare perk.
Axos Checking is the checking account that factored into our overall rating of the bank.
Axos Checking
Customer experience & overdraft fees
Customer experience
Convenient remote customer service options. Axos Bank’s call center provides around-the-clock phone support. Because Axos doesn’t have any branches, you’ll have to handle your banking online, over the phone or via automated chat.
Wide access for cash deposits but potential fees. Axos uses a third-party service, Green Dot, to let customers add cash to their accounts or reload debit cards at retailers such as 7-Eleven and CVS Pharmacy. It costs up to $4.95 per deposit. You can also make deposits at participating ATMs.
Web experience
StrongMobile apps
Highly ratedPhone support
24/7Branches
Online onlyOverdraft fees
No overdraft fees. The ONE checking account doesn't charge nonsufficient funds or overdraft fees. The bank decides whether it will allow a transaction that would overdraw your account to go through. If it does let an overdraft happen, the overdraft amount must be paid back immediately.
Customers can opt into overdraft coverage. Axos' overdraft programs include the option to set up free automatic transfers from a savings account to your checking, which would occur only if your balance goes negative. There's also an overdraft line of credit.
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.