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Axos Bank does its best to make managing your money flexible and easy. It does this by offering fee-free accounts and a variety of checking account options. Additionally, Axos provides domestic ATM fee reimbursements (so you're not tied to a single ATM network). It's also one of the few banks to offer a free ATM card for its savings account.
We gave Axos Bank a 3.50 out of 5 stars after evaluating annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
| Axos Bank accounts | Motley Fool Money's star rating (out of 5) |
|---|---|
| Axos Bank | 3.50 |
| Axos Bank First Checking for Teens | 4.25 |
| Axos Basic Business Checking | 4.00 |
| Axos High-Yield Savings | 2.50 |
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how Motley Fool Money rates bank accounts.
Axos Bank offers competitive online savings accounts for adults and teens.
The Axos High-Yield Savings account's primary draw is usually its better-than-average APY. But these days, its rates aren't as high as many competitors we review. The account offers other perks worth a look, like zero monthly maintenance fees and an ATM card.
On Axos Bank's Secure Website.
Member FDIC.
Axos High-Yield Savings
On Axos Bank's Secure Website.
On Axos Bank's Secure Website.
Axos High-Yield Savings gives you a better-than-average APY for balances up to $25,000. The account doesn't charge monthly maintenance fees or have a minimum balance requirement. It also comes with a free debit card for those who request it, so you can quickly withdraw funds directly from your savings account.
The Axos Bank First Savings account gives teens an affordable way to save. The teen savings account reimburses $12 of ATM fees per month, but the APY is low.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Bonus | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
up to 3.80%
Rate info
Earn up to 3.80% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. to earn: $0
|
Earn $50 or $400 and +0.70% Boost on Savings APY with direct deposit. Terms apply.
Earn up to 3.80% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC. |
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for NexBank High-Yield Savings Account from Raisin
On Raisin's Secure Website.
4.70/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
4.15%
Rate info
Earn a guaranteed 4.15% APY for 90 days. After that, your savings keep growing at a competitive standard rate — currently 3.97% APY (subject to change). No minimum account balance required. Deposit or withdraw at any time with no additional fees. See product terms for complete details.
Min. to earn: $1
|
Earn up to $1,200 when you sign up and fund your account using code SUMMER26.¹
|
Open Account for NexBank High-Yield Savings Account from Raisin
On Raisin's Secure Website. |
Open Account for Happen Bank LevelUp Savings
On Happen Bank's Secure Website.
4.70/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
4.00% APY with $250+ in monthly deposits
Rate info
*LevelUp Rate of 4.00% APY applied to full balance with $250+ in deposits in Evaluation Period. Otherwise, accounts earn Standard Rate of 3.00% APY. LevelUp Rate applies to first two statement cycles. Rates variable & subject to change at any time. See terms: https://www.happen.com/legal/deposits/levelup-savings-t-and-cs
Min. to earn:
|
N/A
|
Open Account for Happen Bank LevelUp Savings
On Happen Bank's Secure Website. |
¹New customers only. Earn a cash bonus (the "Base Bonus") when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive a Base Bonus of $50 for depositing between $10,000 and $24,999; $125 for depositing between $25,000 and $49,999; $250 for depositing between $50,000 and $99,999; $500 for depositing between $100,000 and $199,999; and $1,000 for depositing $200,000 or more.
Customers may earn an additional bonus by setting up a recurring deposit within 14 days of their initial deposit (the “Recurring Deposit Bonus”). To qualify, the recurring deposit must be established within 14 days of the initial deposit date and it must execute at least two (2) times within 90-days of the initial deposit. Recurring Deposit Bonus eligibility is determined by your Base Bonus tier:
Customers are eligible to earn the Recurring Deposit Bonus associated with their Base Bonus tier or any lower Recurring Deposit Bonus tier. For example, a customer with an initial deposit of $200,000 (qualifying for the highest Base Bonus tier) whose aggregate recurring deposits total $500, is eligible for the lower tier and will receive the $50 Recurring Deposit Bonus. However, setting up a recurring deposit greater than your Base Bonus tier's required threshold will not qualify you for a higher Recurring Deposit Bonus.
The Recurring Deposit Bonus is paid in addition to the Base Bonus. To qualify for the Base Bonus and Recurring Deposit Bonus, your first deposit must be initiated between June 1, 2026, and August 31, 2026, by 11:59 PM ET, and the promo code SUMMER26 must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for the Base Bonus. Bonus cash will be credited directly to your Cash Account within 30 days of meeting all qualifying terms. This offer is available to new customers only and may not be combined with any other bonus offers. Raisin may modify or end this offer at any time and may withhold or revoke bonuses in cases of fraud, abuse, or violation of these terms or Raisin’s Terms of Service.
With Axos Bank, you have the option to have the CD interest you've earned automatically transferred to another bank account if you prefer. You can also leave the money in your CD and earn interest on your interest. Unfortunately, its CD rates are low.
EverBank CD Raisin
On Raisin's Secure Website.
CIT Bank No-Penalty CD
On CIT's Secure Website.
Axos Bank offers highly competitive checking accounts that cater to different needs.
An affordable checking account for teens aged 13 to 17. It offers a modest APY and no maintenance, overdraft, or NSF fees. A big downside is the account limits your withdrawals.
The Axos Basic Business Checking account is a good fit for small business owners who don't want to worry about monthly fees or maintaining a certain minimum balance. Those with high monthly transaction volumes will enjoy this account as well, since it comes with free unlimited transactions.
We recommend comparing checking accounts to make sure you're getting the best fit for you. Here's a list of our favorite accounts.
| Account | APY | Bonus | Next Steps |
|---|---|---|---|
Open Account for Quontic High Interest Checking
On Quontic's Secure Website.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
up to 1.10%
Min. to earn: $1
|
High APY when you complete 10 or more qualifying debit card purchases each month
|
Open Account for Quontic High Interest Checking
On Quontic's Secure Website. |
10 debit card point of sale transactions of $10 or more per statement cycle required to earn the maximum APY. If the qualifying activity requirement is not fulfilled, the interest rate paid on the entire balance will be 0.01% APY.
Axos Bank offers a solid money market account for folks who want the perks of both checking and savings accounts rolled into one.
This account also doesn't charge a monthly maintenance fee or have a minimum required balance. It offers an okay APY, as well as a debit card. Plus, with Axos Bank's mobile app, you'll have the ability to pay friends from your money market account directly from your phone.
On Axos Bank's Secure Website.
Member FDIC.
Axos Bank High Yield Money Market
The Axos Bank High Yield Money Market account offers a debit card, check writing, and no maintenance fees. Unfortunately, the APY is much worse than competitors'.
Yes, Axos Bank is FDIC insured. That means your money is protected $250,000 per eligible account in the event something happens to Axos Bank.
Axos Bank has customer service reviews on par with large branch banks; in other words, not so great. But it does respond to most online complaints.
Axos Bank has received poor customer satisfaction ratings, earning just a 1.9 from Trustpilot. But it also maintains an A+ rating with the Better Business Bureau, suggesting that it does its best to respond promptly to customer complaints.
Axos Bank scores low on customer service. Recent Trustpilot reviews indicate that though customers like the banks' rates and low fees, customers are frustrated with poor over-the-phone help. One point of contention might be the automated phone service, which is currently a semi-competent chatbot that this particular reviewer found frustrating.
You can contact Axos Bank for personal banking needs 24/7 by calling 888-502-2967. A secured chatbot called Evo will answer your questions and manage your bank account for you. You can also send secure messages in the banking app.
Recent Google Play reviews indicate the app is workable but not top-tier. Complaints include lag and friction when logging on to the account.
Axos Bank doesn't offer relationship benefits. For other banks, these can include higher APYs for loyal customers. Sometimes, banks offer discounts on loans or other products to customers who have multiple accounts with the bank. Axos Bank relies on its already-high APYs and low fees to draw in customers.
If Axos Bank isn't a good fit for you, here are a couple of other banks to consider.
CIT Bank cannot match the variety of checking accounts Axos Bank offers. However, the CIT Savings Connect account has a super-competitive APY. CIT Bank uses this system to reward customers for keeping more money in their accounts. It also has a much wider variety of CDs with more competitive APYs. It's a better option if you're interested in investing in CDs. The bank's customer satisfaction ratings are also average. Again, this might not bother you if you plan to do most of your banking online.
Ally Bank is one of the best-known online banks. It offers a good mix of products, including an interest-bearing checking account, a competitive savings account, and several types of CDs -- including some less common options like raise-your-rate CDs. It's also branched out into retirement accounts and self-directed trading accounts. It could be a better fit if you're interested in retirement saving or investing.
Axos Bank is a good choice for you if:
Yes, Axos Bank is an FDIC-insured bank with typical account types. It's an online-only bank.
UFB Direct is a division of Axos Bank.
Axos Bank is a safe place to put your money. All bank accounts are FDIC insured up to FDIC insurance limits.
Motley Fool Stock Disclosures
Citigroup is an advertising partner of Motley Fool Money. Ally is an advertising partner of Motley Fool Money. American Express is an advertising partner of Motley Fool Money. Cole Tretheway has no position in any of the stocks mentioned. Kailey Hagen, CFP has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Apple, Axos Financial, Target, and Visa. The Motley Fool recommends Capital One Financial. The Motley Fool has a disclosure policy.No-Penalty/11-MO CD
APY — Annual Percentage Yield is accurate as of July 1, 2026. $1,000 minimum to open the account.
With a No-Penalty CD, you may withdraw the total balance and interest earned, without penalty, beginning 7 days after funds have been received for your CD. No withdrawals are permitted during the first 6 days following the receipt of funds.
CIT General Disclosures
For complete list of account details and fees, see our Personal Account disclosures.
