Axos Bank is the 91st largest bank in the nation. It was established in 2000 and as of September of 2024, it had grown to 1,370 employees. Axos Bank has an A health rating.
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Great Bank
I'm reading all of these poor reviews and I don't understand where they're coming from. The only issue at all that I have with Axos bank is trying to get ahold of their customer service. I HATE these "robots" that try to handle your problem. When I do get through to customer service I have someone with an accent so heavy I can't understand them. Luckily I don't need to contact customer service very often. I use their message center, I always receive a reply within 24 hours and that usually is sufficient for what I need. I get paid early, I don't have any fees to worry about, it's going on 3 years now and I've never had a problem.
Unauthorized Changes And Withholding Information
I took out a mortgage from AXOS Bank in July of 2024. Initially, the loan officer was responsive, but after the appraisal came in lower than the offered price, they changed the down payment amount without approval. After that, things got even worse: the loan officer became almost non-responsive and did not recognize the site condo as a separate entity, not as a condominium. Having it listed as a condominium meant that I had to pay points to lower the interest rate. To top everything off, during the closing, they showed the paid points were used to decrease the interest rate by 0.125, although I was quoted a reduction of the interest rate by 0.375 two weeks before the closing. I would have accepted the slightly higher interest rate if they had offered it to me. I asked for the closing documents to be amended if the 0.125 decrease is not correct, but they did not do it, so I guess keeping me in the dark worked to get more money.
I gave them two stars because they did not charge me origination fees, and I closed on time.
I would not recommend AXOS to anyone buying a home in Michigan.
Terrible Customer Service!
Terrible customer service!!!!
I have a CD that matured there and They have made me jump through hoops to try and withdraw the funds.
First they had me link a an external account only to find out that money can only be added, not withdrawn that way.
Then I asked to have it wired and I would pay the $35 fee.
I keep getting told that the funds will be wired today and then I get another excuse as to why it will be tomorrow.
Meanwhile I am not getting interest during this time period.
I filed a complaint with the FDIC and reported to Regulator Office of Currency today.
This Bank Is AMAZING - Cannot Understand The Bad Reviews
I LOVE LOVE LOVE this bank. They don’t even advertise all of their cool features. First you can use any Allpoint Atm at CVS to withdraw and DEPOSIT cash for FREE. Up to $1000 per transaction. NOT per day. Per transaction. So I can move a lot of money for free. The cash is always in my account and available in seconds. They have paper checks, in and out wire transfers, FDIC insured, bill pay, and will increase your daily limits for large transactions upon request. They have tons of banking products and their app is awesome. NO FEES EVER I cannot say enough good things. So happy.
Data as of Q3 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35546 |
| Year Established | 2000 |
| Employees | 1370 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.73% |
| Return on Equity - YTD | 17.12% |
| Annual Interest Income | $1.31B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $22.89B$19.93B |
| Loans | Q3 2024vs Q3 2023 | $18.46B$16.94B |
| Deposits | Q3 2024vs Q3 2023 | $20.18B$17.72B |
| Equity Capital | Q3 2024vs Q3 2023 | $2.33B$1.93B |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $205.7MM$170.7MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $210.5MM$137.1MM |
| Real Estate Owned | Q3 2024vs Q3 2023 | $75K$7MM |