Axos Bank


Overview / Commentary
833-411-2967
4350 La Jolla Village Drive, Suite 140
San Diego, CA 92122

Axos Bank is the 133rd largest bank in the nation. It was established in 2000 and as of December of 2021, it had grown to 1,022 employees. Axos Bank's savings rates are 17% higher than the national average, and it has an A health rating.

Related Posts

Axos Bank Cuts Rate and Adds Requirements to Rewards Checking - 9/6/2021

After more than ten years with a top rate of 1.25% APY, Axos Bank has lowered the top rate of its Rewards Checking account to 1.00% APY.

Axos Reward Checking Rate Go Down To A Max Of 1% On Upto 50K With Stranger Hoops Than Before - 8/17/2021

Received email mentioning the following: "Account Details Starting on October 1 Interest-Earning Eligibility Requirement Receive monthly direct deposits totaling $1,500 or more. Interest Earned: 0.40% APY2. This requirement must now be met to be eligible to earn any interest during the statement cycle, regardless of whether the other interest-earning requirements are met. Opportunities to Earn Additional Interest • Use your Axos Visa® Debit Card for a total of 10 transactions per month (min $3 per transaction) or sign up for Account Aggregation/Personal Finance Manager (PFM) in Online Banking: 0.30% APY2 • Maintain an average daily balance of $2,500 per month in an Axos Managed Portfolios Invest Account: 0.10% APY2 • Maintain an average daily balance of $2,500 per month in an Axos Self Directed Trading Invest Account: 0.10% APY2 • Use your Rewards Checking account to make your full monthly Axos consumer loan payment: 0.10% APY2 Total Interest-Earning Potential If All Requirements Are

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Best Bank Ever!

Posted by: |

Axos is the best bank I have ever had, and I have used banks such as Bank of America, Wells Fargo, local banks where I lived, etc. I switched to Axos 2 years ago and I have had NO problems. NO fraud issues. NO fees every time I turn around!
I have a checking and savings with Axos and I pay NO MONTHLY MAINTENANCE FEE, ATM FEES are REFUNDED, NO OVERDRAFT FEES...do I really need to say more??!!

Direct Deposit For Accounts

This institution does not accept P2P through billpay. Does anyone know what they will accept for DD? Both reward checking and essential checking require billpay. Was told DD through billpay marked P2P will not count.

Money Market Rate Lowered Immediately?

I opened a money market account with them a month ago because it was .6%. Now, after going to all that trouble, it is down to .25%. LESS THAN HALF! I know the rates are variable, but other bank rates have gone UP this same month. What a ripoff.

You Will Regret Using This Bank!

Posted by: |

Do not say I didn't warn you...DO NOT USE!

Dealing with this bank is like the Nathan For You rebate episode. INTENTIONALLY IMPOSSIBLE TO ACCESS YOUR YOUR FUNDS. Where do I start? MY mother opened a IRA account about 13 years ago with about $1,000 to get credit on her tax return. In the past 5 or so years she had tried multiple times to call and get this account closed and access her funds. She was given the run around and so the money stayed.

Finally I decided this was the week this account will get closed. $1000 is a $1000 and I refused to just leave it there and have the yearly account fees to eventually dwindle down to zero.

So Im looking at the annual notice they send. Got to say they seem to be intentionally making themselves hard to contact. This account statement HAS NO PHONE NUMBER no contact information. Just the name of the bank and the address in CA.

So I google the telephone number and give it a call. I reach someone that sounds like they are hanging out at home eating potato chips. I tell them we want to close the account. He mumbles eventually that's the retirement department and he will have to transfer me. He says he's going to put me on hold but what it sounds like he does is just set his phone dow. I hear talking in the background and he NEVER COMES BACK ON THE LIN. I eventually hang up.

I try to call back and am unable to get a live person. I leave a message. Keep calling and calling. Its during business hours but nothing is happening. I do this for the better part of an hour.

In the meantime I attempt to create an online account because the phone messages are all saying this is where "so much" can be accomplished. I enter in all my moms info and it says I am UNABLE TO COMPLETE THE ONLINE REGISTRATION and MUST speak with someone via phone to continue. GRRRRR

After about an hour and a half of this I finally get a gentleman that sounds like he is out of the country on the line. Says oh the reason why the online registration couldn't complete was that we need a photo ID of my mom on file. He was me send him pictures via email of my mom holding a picture of her id to an email address (which by the way would be IMPOSSIBLE FOR MANY ELDERLY TO ACCOMPLISH) and is something Ive never had to do with any of my online only accounts like I have with Ally.

He has me on hold as he "processes" it and HANGS UP ON ME INTENTIONALLY.

I call back and get another lady that is the most helpful. She processes the photo and says the real reason I can't create and online account is they have no email on file? That she needs to update this and we should be good to create and online account and once we have an online account we should be able to request an account closure.

She processes that YET I AM STILL UNABLE TO COMPLETE MY ONLINE REGISTRATION. It pauses on the second page on the registration where it has you accept their privacy practices. It says "must enter email" but there is not place on the page to enter an email. She says give it an hour and try again.

I say, "so are you telling me the only way a person can access their accounts with this bank account is not by phone, NOT by MAIL, not in person, BUT ONLY ONLINE?!? Is there not other way I can close this account?"

She says yes. Online is the only way. Not by mail form, Not by phone. I say what if a person isn't able to jump through these hoops? They just can't get their money? She says yes.

So eventually and for no reason for the delay, I am able to complete the registration and email a secure message about closing the account .

They get back to me in 2 days later and say that I need to complete this withdrawal form, attach it to a reply only to this conversation, and they can withdraw the funds...BUT THE FORM NEEDS TO BE NOTARIZED FIRST?!? ridiculous. Never have a needed a notarized form for an IRA withdrawal.

So I try to attach the form to the reply that I am apparently REQUIRED TO DO to process the request. (and ONLY to this specific conversation in the mailbox). The process is not intuitive and INTENTIONALLY RIDICULOUSLY DIFFICULT to do. There is no attach emblem. I have have to scout around. Say something wasn't helpful...and then the reply and attach option pops up. Trust me on this. Either this banks process sucks that much organically and unintentionally and you shouldn't deal with them or, as it seems to me, they intentionally make account closings and withdrawals impossible to do. And you shouldn't deal with them.

So we attach the form without the notary and say there shouldn't have to be one because if you read the form even the form says that's only needed of there is account changes requested in addition to withdrawal request.

Days later I get a message that says it had been processed and we DID just get the check.

So, If you want to go through something like this when the time comes to service your account have at it. But I cannot image the people that really need the money and have their life savings with this account dealing with this nonsense.

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Health
A

Data as of Q4 2021

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #35546
Year Established2000
Employees1022
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.8%
Return on Equity - YTD18.55%
Annual Interest Income$621.9MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$14.05B$13.30B
LoansQ4 2021vs Q4 2020$12.61B$11.64B
DepositsQ4 2021vs Q4 2020$12.37B$11.67B
Equity CapitalQ4 2021vs Q4 2020$1.40B$1.20B
Loan Loss AllowanceQ4 2021vs Q4 2020$140.3MM$136.2MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$142.2MM$166.1MM
Real Estate OwnedQ4 2021vs Q4 2020$0$6.1MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Axos Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Axos Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.61%*-$25kHigh Yield Savings
OTHER TIERS: 0.15% $100k+ | 0.25% $25k - $100k
0.20%$25k$5mBusiness Premium Savings
0.20%-$5mBusiness Savings

Axos Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%--High Yield Money Market
0.20%-$5mBusiness Money Market
0.20%-$5mIndustry Specific Money Market (Non-Profit & Religious Organizations)

Axos Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%-$50kRewards Checking - 5 Qualifications
0.81%*-$50kBusiness Interest Checking
OTHER TIERS: 0.10% $250k - $5m | 0.20% $50k - $250k
0.40%-$50kRewards Checking - Direct Deposit Only
0.10%--First Checking
0.10%--Golden Checking

Axos Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%$1k-3 Month CD
0.20%$1k-6 Month CD
0.20%$1k-12 Month CD
0.20%$1k-24 Month CD
0.20%$1k-36 Month CD
0.20%$1k-48 Month CD
0.20%$1k-60 Month CD
0.20%$1k-Business 12 Month CD
0.20%$1k-Business 24 Month CD
0.20%$1k-Business 36 Month CD
0.20%$1k-Business 48 Month CD
0.20%$1k-Business 60 Month CD
0.20%$1k-Business 18 Month CD
0.15%$1k-Business 6 Month CD
0.10%$1k-Business 3 Month CD
Locations

Axos Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 4350 La Jolla Village Drive, Suite 140 - San Diego, CA 92122

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.