Available nationwide, Axos Bank Business Money Market is offering a 0.20% APY Rate. Keep reading to learn more about Axos Bank and the account.
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About Axos Bank Business Money Market
Axos Bank is an American federally chartered direct bank headquartered in San Diego, California. As a 100% digital bank, they have lower overhead costs than typical brick-and-mortars. This means smarter savings for you and more money for your business.
I’ll review Axos Bank Business Money Market below.
Axos Bank Business Money Market 0.20% Rate
- Account Type: Business Money Market
- Interest Rate: 0.20% APY
- Minimum Balance: None
- Maximum Balance: None
- Availability: Nationwide (Online Bank)
- Credit Inquiry: Soft pull, which does not affect your credit
- Opening Deposit: $1,000 minimum
- Credit Card Funding: Unknown. Let us know.
- Monthly Fee: $5,000 minimum average daily balance requirement to waive $10 monthly fee
- Early Termination Fee: None listed, check with CSR
American Express® High Yield Savings Account - You earn 0.40% interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express High Yield Savings Account include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos Bank and CIT Bank accounts offer great rates available nationwide which I recommend.
|Discover Bank Online Savings||$200 Bonus + 0.40% APY||Review|
|Aspiration||1.00% APY + $150 Cash||Review|
|Axos Bank High Yield Savings||Up to 0.61% APY||Review|
|Quontic Bank High Yield Savings||0.55% APY||Review|
|CIT Bank Money Market||0.45% APY||Review|
|American Express High Yield Savings||0.40% APY||Review|
Axos Bank ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
Editor’s Note: Help us with the table above in the comment section if you have experience with Axos Bank’s ACH capabilities.
How to Earn Axos Bank Rate
- Open a Business Money Market account from Axos Bank with an opening deposit of $1,000.
- Maintain any balance amount and earn the 0.20% APY rate.
|Balance Requirement||APY Rate|
|$0 – $4,999,999.99||0.20% APY|
|$5,000,000+||Contact a Business Banking Relationship Manager at 844-678-2726 for current rates|
Why You Should Sign Up For This Account
- Competitive interest rates
- $1,000 minimum opening deposit
- $5,000 minimum average daily balance requirement to waive $10 monthly fee
- Free image statements, online banking and mobile banking with Remote Deposit Anywhere
Be sure to take advantage of this account if you are a business owner to receive a decent APY and gain access to many great features that come with the account. However, if you are not a business owner, Axos Bank also offers many different accounts so you can be sure to find one that fits your needs.
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on Axos Bank Business Money Market Account.