Axos Business Banking: Free Checking, High-Yield Savings, Big Welcome Bonus
Axos Bank's small-business checking accounts come with unlimited ATM fee reimbursements and online banking tools.
Overview
The bottom line:
With unlimited ATM fee refunds and free cash deposits via compatible Allpoint and MoneyPass ATMs, Axos Bank’s Basic Business Checking's is a strong fit for cash-heavy businesses.
Bank account details
Monthly fee
$0
APY
N/A
Bonus
$400
Business owners get up to $400 welcome bonus!* Open a business checking account by September 30 and get up to $400 when you use promo code NW400 on your application.*
Requirements to qualify
Pros & Cons
Pros
No monthly fees or minimum opening deposit.
Unlimited fee-free transactions and free incoming wires.
Automatic refunds of all ATM fees (domestic).
Cash deposits via Allpoint ATMs.
Welcome bonus for new customers (terms apply).
Cons
$25 fee for insufficient funds/uncollected funds returned.
No third-party app integrations.
Bank account comparison
Compare to other bank accounts
5.0
NerdWallet rating
at Bluevine, Deposits are FDIC Insured
4.9
NerdWallet rating
Monthly fee
$0
Monthly fee
$0
APY
1.30%
With $0 min. balance for APY APY
N/A
Need more options? Check our picks for best business bank accounts of 2025
Axos offers two standout business banking products: Axos Bank® Basic Business Checking and the Axos Business Premium Savings Account. This online-only bank has other business accounts, including a high-yield business checking account and a business money market account
Axos Bank® Basic Business Checking is a free business checking account best business savings accounts
While this review includes information on both Axos Bank® Basic Business Checking and Business Premium Savings Accounts, the star rating indicated above is specific to the Axos Basic Business Checking account.
Is Axos FDIC insured?
Axos Bank is a Federal Deposit Insurance Corp.-insured institution and provides all of its business banking products and services directly. That's different from many online business checking accounts
Axos also offers Insured Cash Sweep services that can extend your FDIC coverage from the standard $250,000 per depositor, per institution to up to $240 million.
» MORE: What is Insured Cash Sweep?
Axos business banking is best for small-business owners who:
- Want a free business checking account and/or high-yield business savings account.
- Need fee-free ATM access throughout the U.S.
- Have more than $250,000 in deposits and want an Insured Cash Sweep account.
Looking for a high-yield business checking account? Bluevine Business Checking
Axos business banking at a glance
| Axos Bank® Basic Business Checking | Axos Business Premium Savings Account | |
|---|---|---|
| Monthly fee: | $0. | $0. |
| Minimum opening deposit requirement: | $0. | $0. |
| APY: | None. | 3.80%. |
| Transactions: | Unlimited. | Up to 20 transactions per month (debits, credits and deposited items). Additional transactions are 30 cents each. |
| Bonus: | $400. Terms apply. | $375. Terms apply. |
How to open an Axos business bank account
You can open an Axos business checking or savings account by completing and submitting an application through the bank’s website. To be eligible, you must be a U.S. resident with a verifiable, physical U.S. address and a Social Security number.
Upon approval of a business checking account, you'll receive a business debit card and/or checks (if requested) and can set up and start managing your Axos business account by logging into online banking, downloading the mobile app and transferring additional funds. You can also add other business employees to your account and assign permissions (contact an Axos business relationship manager). The Axos Business Premium Savings Account does not include checks or debit cards.
What you need to open an Axos business bank account
To complete the application, you’ll need to provide basic information about yourself and your business, as well as any additional business owners or authorized signers. You also will need to include personal identification for all owners and signers — a valid driver's license or passport — and legal business documentation, which will vary based on the entity type
It’s important to note that Axos requires a current email address and physical address (P.O. boxes and registered agent’s address aren't eligible) for the business and all owners and signers in order to process your application.
Axos welcome bonus offers
Axos Bank currently has welcome offers for business checking and Business Premium Savings Account.
Axos business checking promotion
From Axos: "Business owners get up to $400 welcome bonus!* Open a business checking account by September 30 and get up to $400 when you use promo code NW400 on your application.*"
To earn the business checking bonus, you must complete the following requirements:
- Complete 10 point-of-sale transactions per month with your Axos business debit card. Transactions must be at least $3.
- Set up bill pay and connect it to your Axos Basic Business Checking or Business Interest Checking.
- Maintain an average daily balance of $25,000 to $49,999 for a $75 payout or at least $50,000 for a $100 payout. You can earn a total of four bonus payouts over five statement cycles.
Axos Business Premium Savings Account promotion
Earn a bonus of up to $375 when you open a new Business Premium Savings account using promo code BPS375. Terms apply. Offer expires 09/30/2025.
To earn a bonus, you must maintain an average daily balance of $30,000 to $74,999 for a $75 payout or at least $75,000 for a $125 payout. You can earn a total of three bonus payouts over four statement cycles.
Where Axos business accounts stand out
Unlimited ATM fee reimbursements: With Axos business checking, you can use any ATM in the U.S. without incurring fees from Axos. If you’re charged a fee from the owner of the ATM, Axos provides unlimited domestic ATM fee reimbursements for both business checking accounts.
Industry-leading APY on business savings: Want your cash reserves to work harder? Axos Business Premium Savings Account is an excellent option. You'll earn 3.80% APY, and there is no minimum deposit or balance required to start earning interest. Axos does cap transactions on its Business Premium Savings Account, and there's a charge if you go over. More on that below.
Up to $240 million in FDIC insurance coverage: Axos is part of the IntraFi Network, a consortium of FDIC-insured banks that offer Insured Cash Sweep services for business and individuals with large deposits. Sweep accounts opened with Axos can access up to $240 million in FDIC coverage — far beyond the industry standard, even for ICS accounts.
Welcome bonus: Axos offers generous sign-up bonuses for its business checking accounts (earn up to $400) and Business Premium Savings Account (earn up to $375), if you can hit the lofty balance requirements. Terms apply (see details above).
» MORE: Best banks for small business
Where Axos business accounts fall short
No third-party app integrations: With Axos business checking, your account is QuickBooks compatible, meaning you can sync your account to automatically upload your transactions to QuickBooks
Want an account that syncs all your business tools? Consider Relay Business Checking
App rated lower than many competitors: The Axos mobile banking app has mediocre reviews from Android users, garnering complaints about poor user experience, slow load times and frequent crashing. Apple users' ratings are higher on average, but still lower on average than competing digital banks.
If you do most of your business banking on the go, consider American Express® Business Checking
Good, but not great, interest checking: The Axos Bank® Business Interest Checking ($10 per month) earns up to 1.01% APY, which is far more than the national average. But you can earn more interest with some of Axos's competitors. Bluevine Business Checking
*Terms apply. See Axos website for complete eligibility details.
*Accounts offered by American Express National Bank. Member FDIC.