Available nationwide, Axos Bank is offering up to 1.25% APY on balances of up to $50,000 when you open an Axos Bank Rewards Checking Accounts.
Table of Contents
Axos Bank Rewards Checking
- What you’ll get: Up to 1.25%
- Account Type: Rewards Checking
- Availability: Nationwide, Online
- Direct Deposit Requirement: Yes
- Credit Inquiry: Soft Pull
- ChexSystems: Unknown
- Credit Card Funding: None
- Monthly Fee: None
- Early Account Termination Fee: $150 if closed within 180 days.
- Household Limit: None
(Visit Axos Bank to learn more)
Axos Bank Rewards Checking Benefits
- Zero monthly maintenance fees
- Zero overdraft or NSF fees
- Zero minimum monthly balance reqs
- Unlimited domestic ATM fee reimbursements
- Online debit card management
- Simple, 3-step process for direct deposit
- Only $50 to open an account
Axos Bank Rewards Checking 1.25% APY Rate
Axos Rewards Checking has no maintenance fees and no minimum balance requirements either. The $100 cash bonus is in addition to the account’s 1.25% APY on your checking balance up to $50K.
However, there are qualifying activities you need to do each month to earn the full competitive rate:
- 0.40% APY: Receive direct deposits totaling $1,500
- +0.30% APY: Make 10 debit card purchases
- +0.20% APY: Maintain an average daily balance of $2,500 per month in an Axos Invest Managed Portfolios Account.
- +0.20% APY: Maintain an average daily balance of $2,500 in an Axos Self Directed Trading Invest Account
- +0.15% APY: Use your Rewards Checking account to make your full monthly Axos consumer loan payment
Keep in mind that to be eligible for interest at all, you’ll need to meet that first direct deposit requirement.
The bank does not charge NSF or overdraft fees and offers unlimited reimbursements on any domestic ATM fees incurred. There is a minimum deposit requirement of $50 to open the account.
If you’re a heavy debit card user, definitely take a look into this account. Not only will you earn a return on your funds, Axos Bank will also reimburse unlimited out-of-network ATM fees in the U.S.!
Rest assured that Axos Bank is a federally chartered, FDIC-insured, full-service bank, so you know that your funds are safe! If you have had any experiences with this bank, please let us know in the comment section below.