Axos Bank is the 91st largest bank in the nation. It was established in 2000 and as of December of 2024, it had grown to 1,337 employees. Axos Bank's savings rates are 9X the national average, and it has an A health rating.
Questions About Current Experience
The reviews on this bank are relatively old (and generally bad). Does anyone have recent experience.
DA site shows a "Axos One Savings Special" account at 4.86 APY. Is that valid.
Their general website shows . (Point) 61%. They seem to have it highly advertised, but it technically is just over 1/2 of ONE PERCENT as listed.
Under a google search, they come up big with an ad stateing "Your 4.86 APY" is here and further state a 4.86 APY for savings coupled with a .51APY on checking.
Anybody have recent info on them.
(As I have no information on them, I have just rated them neutral)
Misleading APY On HYSA
I got excited when I saw the high interest rate on their HYSA but decided to call them to ask how long they anticpate offering it. Turns out that you have to make a minimum $1,500/month direct deposit, or transfer $5K into it every month to get the advertised rate, and also maintain some minimum balance in a checking account that pays no interest. It looks like it would be a full time job managing this. Waaay to complicated.
Me As Well Did Little Research
For one you cannot use your account between the hours of 12 AM and 4 AM, due to maintenance. then I had a very inconvenient experience with access bank.I de posited a check from my employer they then put a hold onto my account five days later they closed my account and I am now waiting for the remaining funds to be sent to my address . DO NOT USE THIS bank ! It is not convenient , Does not accommodate their customers for inconvenience, it lacks communication and it’s unsatisfactory. you’ll be sure to be unsatisfied!
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 Q4 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35546 |
| Year Established | 2000 |
| Employees | 1337 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.74% |
| Return on Equity - YTD | 17.13% |
| Annual Interest Income | $1.76B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $22.84B$20.75B |
| Loans | Q4 2024vs Q4 2023 | $18.62B$17.43B |
| Deposits | Q4 2024vs Q4 2023 | $20.09B$18.3B |
| Equity Capital | Q4 2024vs Q4 2023 | $2.39B$2.08B |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $213.9MM$176.8MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $237.8MM$154.3MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $75K$5.6MM |