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Axos Rewards Checking Account

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  • Our Rating 5/5 How our ratings work
  • APYUp to 3.30% More Info

    Earn up to 3.30% APY for completing qualifying activities.

  • Minimum
    Deposit Required
  • Intro Bonus Up to $500Expires July 31, 2024 More Info

    Cash in on up to a $500 bonus† and up to 3.30% APY* with a new Rewards Checking account. Just use promo code RC500 before July 31.

Axos Bank Rewards Checking gives customers the chance to earn up to a 3.30% APY on their deposits with no monthly fees. These are all terrific features for a checking account, but Axos is digital-only, so if you deal with cash regularly it’s probably not the best fit for you.

Unlock Impressive Interest Rates With Qualifying Activities

Axos Bank, Member FDIC, is a leading online bank with several impressive banking products, including its Axos Bank Rewards Checking, with its competitive 3.30% APY. This account has no monthly fees, minimum balance fees or overdraft fees, making it easy to maintain. It takes some work to maximize the account’s APY, though, so it’s not the right fit for everyone. 

For a limited time, new account holders can earn a welcome bonus of up to $500 when they complete qualifying activities. Here’s what you need to know to determine if this rewards checking account is a good fit for you.


  • Strong APY compared to similar accounts
  • No monthly maintenance fee or monthly minimum balance
  • No overdraft or non-sufficient fund fees
  • Unlimited domestic ATM fee reimbursements


  • Several qualifying activities required to earn maximum interest
  • No physical branch locations

$500 Axos Rewards Welcome Bonus

From now until July 31, 2024, new Axos Rewards Checking customers can earn a welcome bonus worth up to $500 when they apply for a new account using the partner link on this page and include promo code RC500 on their application.

Once your account is open, you'll need to complete ongoing requirements to earn the bonus. These requirements are to be completed during the first six statement cycles, beginning with the statement cycle 30 days after your account is opened.

Each statement cycle, complete the following to earn $100, with the maximum possible bonus being $500:

  • First, your Rewards Checking account must receive qualifying direct deposits of at least $1,500.00 in total
  • Additionally, you'll need to maintain a minimum average daily balance of $3,000 or more

While customers have six statement cycles to earn the full bonus, they can only receive a maximum of five payouts. This means that it's possible to miss the requirements for a statement cycle and earn the maximum bonus.

Bonus payouts arrive within 15 business days of the end of each statement cycle.

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SoFi Checking and Savings

$50-$300Expires December 31, 2024 More Info

See full terms and disclosures at Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. SoFi members with Direct Deposit can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.60% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at

Chase logo

Chase Total Checking® Account

$300Expires October 16, 2024 More Info

New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities

Axos Bank logo

Axos Rewards Checking Account

Up to $500Expires July 31, 2024 More Info

Cash in on up to a $500 bonus† and up to 3.30% APY* with a new Rewards Checking account. Just use promo code RC500 before July 31.


U.S. Bank Smartly® Checking Account (Member FDIC)

Up to $450Expires September 26, 2024 More Info

Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through September 26, 2024. Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm. Member FDIC.


Chase Business Complete Checking®

$300Expires October 17, 2024 More Info

Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.


Earn Up to 3.30% APY

This interest-bearing checking account offers up to 3.30% APY, which stacks up well against some of the best high-yield savings accounts. The downside is that you can’t allow your balance to exceed $50,000 to earn interest with this account.

To earn the maximum 3.30% APY on balances of up to $50,000, you need to meet these requirements:

Axos Rewards Checking Maximum APY Requirements

Tier APY

Direct Deposit

Receive monthly direct deposit of $1,500 or more


Debit Card Spend

Use your Axos Visa® Debit Card for a total of 10 transactions of $3 or more per month, OR sign up for Account Aggregation/Personal Finance Manager (PFM) 


Axos Managed Portfolios

Maintain an average daily balance of $2,500 per month in an Axos Managed Portfolios Invest Account


Self-Directed Trading

Maintain an average daily balance of $2,500 per month in an Axos Self Directed Trading Invest Account


Loan Payments

Use your Rewards Checking account to make your full monthly Axos consumer loan payment


3.30% APY

Other tips to earn the maximum APY:

  • The monthly direct deposit requirement must be met to be eligible to earn any interest during the statement cycle, regardless of whether the other interest-earning requirements are met.
  • For each of the other tiers you satisfy, you’ll earn an APY consistent with the schedule above on your balance for the month. You’ll need to do some legwork to make sure you qualify for the full APY each month.
  • If you regularly use a debit card as your primary payment method and you can easily meet the direct deposit requirement with your paychecks, you may not have to keep track.

Alternatives to Axos Rewards Checking

Average percentage yields fluctuate as financial institutions adjust their rates with the market. It’s one of the primary reasons to shop around for the account that best meets your goals. If you’re interested in locking in your money at a specific APY, consider a certificate of deposit (CD). Risk-averse investors who want flexibility with their savings can consider CIT Bank No-Penalty CD, along with these other CDs.

Recommended No-Penalty CDs

CD Term APY Minimum deposit required Learn More
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CIT Bank No-Penalty Certificate of Deposit

11 months

3.50% More Info

Annual Percentage Yield is accurate as of April 2, 2024. Interest rates for CIT Bank's No-Penalty CD are variable and subject to change at any time without notice.


Synchrony No-Penalty CD

11 months

0.25% $0

Ally Bank No-Penalty Certificate of Deposit

11 months

4.00% $0
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Marcus by Goldman Sachs No-Penalty CD

7-13 months

4.70% $500

No Monthly Fees

In addition to a high interest rate, the account also offers: 

  • No monthly maintenance fee: This is a fairly common perk, especially with online banks and credit unions, but it’s nice to have along with the other no-fee features of this account.
  • Unlimited domestic ATM fee reimbursements: You will be charged an ATM fee when you withdraw cash, but the bank will reimburse those from U.S. ATMs. Note that international ATM fees are not reimbursed.
  • No overdraft or non-sufficient fund fees: Having no overdraft fees is also a huge plus. While more and more online banks are skipping overdraft fees, it's still a major moneymaker for the banking industry.
  • No monthly minimum balance requirement: The flexibility not to worry about keeping a minimum amount in your account is a nice feature.

Minimum Deposit Requirements

This account does not feature a minimum opening deposit requirement or an ongoing balance requirement.

piggy bank with money poking out Related Article

10 Best Bank Accounts With No Opening Deposit Required

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Account Benefits and Tools

The account's interest rate and fee structure is its main value proposition, but you'll also get some other important (but standard) banking features:

  • Helpful Switch Kit for new accounts: If you're planning to open an account with Axos, you'll get a step-by-step checklist to help you move all of your banking over from your current account.
  • User-friendly online bill pay tools: You can set up your monthly bill payments with each lender and utility company individually, or you can manage them all in one place with Axos.
  • Convenient mobile banking features: Download the Axos Bank mobile app and you can manage your account and deposit checks anywhere, anytime.
  • Lots of financial products: Axos Bank also offers several checking accounts, savings and money market accounts, mortgage, auto and personal loans and investment management. One notable exclusion, though, is that you can't make cash deposits.
  • Highly rated customer service (but mixed): Axos Bank has an A+ rating from the Better Business Bureau (BBB), but that doesn't mean the customer service is always stellar. As of May 2021, customer reviews on the bank's BBB profile average 1.09 out of 5 stars. If you have questions about this or other Axos Bank accounts, you can reach customer service by calling 844-999-2967.
  • FDIC Insurance: Axos Bank is a Member FDIC bank, which means if the bank fails, your deposits are insured up to $250,000 per depositor, per ownership category. If you have a joint account with someone at Axos Bank and another account where you're the sole owner, you're insured up to $250,000 on each account for a total of $500,000.
  • Online resources from the comfort of home: All major bank resources, from debit card management and replacement to borrowing and investing can be handled from home. However, Axos doesn’t have physical branches. If you prefer in-person service or the ability to make cash deposits, switching to an online bank may not appeal to you.

Other Axos Deposit Accounts

Axos Bank is a full-service bank that offers other checking accounts, savings accounts, mortgage loans, personal loans, auto loans and even investment accounts. The bank also offers some banking products for small businesses.

If you want to compare this checking account to the other ones that Axos offers, here's a quick summary of each.

Account APY Monthly Maintenance Fee Minimum deposit required Learn More
Axos Bank logo

Axos Rewards Checking Account

Up to 3.30% More Info

Earn up to 3.30% APY for completing qualifying activities.

$0 N/A
Axos Bank logo

Axos Essential Checking Account

N/A $0 N/A
Axos Bank logo

Axos High Yield Savings Account

Up to 0.61% More Info

Earn 0.61% APY on balances of $24,999.99 or less. Balances of $25,000 or more earn reduced APY.

$0 $250
Axos Bank logo

Axos First Checking Account

0.10% $0 N/A

Take your time to compare these checking accounts, as well as accounts from other banks and credit unions, to find the right option for you.

Is Axos Bank Rewards Checking Right for You?

The Axos Rewards Checking Account is an excellent choice for those who want to earn a high yield on their balance with few account fees to worry about. There are no monthly maintenance fees and no overdraft fees, plus ATM fees, giving it a big edge over most competing checking accounts.

But because it's an online-only bank, there are some limitations to its services. For example, you won't be able to deposit cash in person. If you prefer doing any of your banking at a physical branch, this account is likely not for you. Also be sure to review the maximum APY requirements, as there are a few hoops to jump through. While it has an impressive APY for a checking account, some accounts have simpler requirements, so think through your banking habits before you sign up. 

Earn More Interest on Checking Balances

Ready to open an Axos Rewards Checking Account? Start here.

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Ben Luthi

Ben Luthi is a personal finance and travel writer and credit card expert. He has a degree in finance from Brigham Young University and worked in financial planning, banking and auto finance before writing full-time for NerdWallet and Student Loan Hero. Ben is now a full-time freelance writer and enjoys traveling and spending time with his two kids. His work has appeared in several publications, including U.S. News & World Report, USA Today, Money, Success and Slickdeals.