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Axos Bank Reviews

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Based on 17 reviews

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More Disappointed By The Day

Posted by: tgfruth1 | Apr 15, 2019

Things under Bank of Internet (BofI) started out great. Responsive, friendly customer service, nice features, easy to get set up and start using, and great rates. No fees, and ALL ATM fees reimbursed. Really cool. Then it took months for them to get Android Pay (supporting the other 85% of smart phone users - hello!) Then they became Axos and the real decline began. They got rid of PopMoney. They got rid of the financial management tools they had. Today I learned the back breaker. I can't use them with Venmo. I'm now shopping again (Ally, anyone?), and maybe I'll even go back to my good old credit union.

Horrible Horrible Company

They have horrible technology.
They do not care about their customers.
The company has systematic issues that will not be resolved soon.

Axos Bank does not have the resources and employees to run a proper operation. It is a joke of a bank, so stay away and never look back.

Axos Bank Is Horrible!!!

Posted by: garycahn | Mar 15, 2019

I had my checking account at Axos bank for more than 10 years, and was a very satisfied customer. In March 2019, I received an email from them stating that they would close my account in 30 days, without providing any further explanation. I called them, and they refused to explain why they were doing this. I'm sure you think this is the craziest thing you ever heard of, and that's exactly what I thought. You can google this issue, and you will find all the other customers whose account Axos has closed for no reason whatsoever.

I urge you not to open an account with them, because they may close your account for no reason, just like they closed my account.

Do Not Bank Here!!!

Posted by: tbear1978 | Mar 5, 2019

They hold mobile deposits for 5 business days no matter the amount!! Yes for even $10.00 but they held MY $200.00 for a whole week!!! You sit on their website usually for a good bit before getting to chat with someone's more trouble trying to call them!!

Wow This 'Bank' Is Bad.

Posted by: derpderp | Feb 16, 2019

40 minute hold times, then I get hung up on.

Just trying to activate a debit card.

I've now cut up the debit card and will never consider Axos or UFB Direct again.



Posted by: rjoone | Feb 15, 2019

My account at Nationwide was transferred to AXOS Bank, the experience has been HORRIBLE.
Long hold on customer support calls, misinformation given by representative, no reasonable time response to my questions, lack of follow up. After all the bad experiences I closed may account and filled out the AXOS wire transfer form which had to be faxed, the AXOS fax line was busy for multiple attempts, WOW!
Waiting now to see if I'll receive my funds in a timely fashion.

It's A Nightmare

Posted by: evergreen | Feb 5, 2019

Based on some third parties’ reviews, I opened deposit accounts with AXOS. The whole experience turned into a nightmare. I don’t believe I am the only one out there. This bank’s problems are multi-faceted and seem deep rooted.

First, they make serious operational errors. Be very careful to double check your interest payment on the deposit accounts. I discovered blatant errors that lasted for years. Account statements went missing for no reason. A mysterious loan appeared under my account despite the fact that I had never opened any loan account with them whatsoever. Interest accrued in one year was account as the interest of another year. A whole bunch of errors entangle together, as a result their own calculations contradict each other, not to mention entirely wrong.

Secondly, Axos’s communication channels do not help you resolved issues. Customer service seems friendly from the surface but nothing gets done. You can keep calling them and sending messages, but don’t expect any real progress. I have tried to correct the blatant error in my accounts for nearly a month. Despite repeated calls and messaging, all I get is “ your request has been forwarded, someone is working on it, you will hear back….”

Once, the deposit department replied and said everything will be fixed in 12 days time. They even laid out detailed plans on how to fix each problem on a given day. However, by the end of the 12th day, nothing happened. I asked them what went wrong. No reply.

Thirdly, their site or phone system constantly experiences technical difficulties, which can be a problem for an internet bank. I don’t know how many times I have seen the error message on their site when I tried to log in, or click some links. It reads “Error. Something unexpected went wrong no our end. Please try again. Thank you.” Today, their phone routing system failed to work, so customers can’t reach the correct department or any person. I have to chat with someone to get an alternate number.

If you have accounts with this bank, please check your statements. If you are researching for online banks, you have been warned.

Closed My Account For No Reason And No Explanation

Posted by: cdm2270 | Feb 2, 2019

I received the following form letter from Axos bank, after banking with them for over a year and a half:
Hello. In accordance with your Deposit Account Agreement with Axos Bank™, please be advised that we have elected to close your accounts. All related services will be terminated in 3 business days, and the effective date of the closing will be 10 business days from the date of this email.
We suggest you cease making deposits to, and writing checks against, your account at this time. After all outstanding items have cleared; a check payable to the current account holder(s) in the amount of any remaining balance (less any outstanding fees, service or other charges) will be sent to your mailing address on file. Please make other arrangements for any automated transactions such as direct deposits and prearranged ACH credits and debits.
Do not hesitate to contact us if you have any questions concerning this letter. Best Regards, Axos Bank Customer Service.

I emailed them why they closed it and all they said was they had no information to give me. How can this bank get away with closing people’s accounts just like that out of the blue with no warning? They don’t even have the decency to tell the person why or address them by their name!

They just notify you in a form email that they are going to close it. Don’t people have a right to know why their account is being closed?

I had a business bank account with Axos, formerly Bofi Federal Bank, for a year and a half, and this is the thanks I get for doing business with their bank. They close my account for no reason.

They have no idea how inconvenient this is. It put my business operations on hold, I have to scramble around to find a new business bank account, and they also say not to make any withdrawals or write any checks on my account, so I can’t even get my own money out of there.
I have to wait for 10 days for them to send me a check of my remaining balance. What if I need that money for something in the meantime?

On top of that, I wrote to the deposit operations about a problem I had with a check that had a stop payment on it, that I believe was stolen out of my account because there was no reason for a stop payment to be put on it, and then they also charged me a chargeback of 10$, and after I ask for help about what to do and getting my money back, instead of getting any help or investigating, they turn around and close my account! I have no idea if that may have been why.

Then it says in their form letter: ‘Do not hesitate to contact us if you have any questions concerning this letter’. So I ask them why my account is being closed and they can’t tell me!

What kind of bank is this? How do they stay in business? Do not open an account with this bank!

Terrible Customer Service

Posted by: blarrick | Jan 7, 2019

I switched to this bank due to the interest rates being so good. Well you will be screwed out of interest if you count on them doing automatic transfers from one account to another that you set up online. I have been fighting with them to get this corrected and to provide me with the missed interest in savings. So far they have not fixed it and they have not called me back. I spent another 30+ minutes on the phone with them and told them if I don't hear back by close of business tomorrow I will transfer all of my accounts back to Capitol One where had no problems to begin with. This is an ongoing issue and not a one time issue so don't expect an ONLINE bank to have a website that works like it is supposed to. Set up three transfers from one account into 3 other accounts and only one happens on a consistent basis the other two seem to never be done and I have made 2 calls to customer service and on chat session with no HELP what so ever. DO NOT GO WITH THIS BANK!!!!!

Account Closed!

Hello Cynthia,
At this time, the Bank has made the decision to end our Banking relationship.
As indicated in your Deposit Account Agreement that was accepted during the Account Application, "The Bank
reserves the right to close your account for any reason, without cause, or notice."
This decision is final and we appreciate your interest in Axos Bank. All access to your account(s) has been disabled.
Any remaining funds will be mailed to your address on file.
Best Regards,
Axos Bank Customer Service

I was a customer with BOFI which they took over this fall since 2012 with no issues. I was given no warning or reason and now have to borrow money to live until next payday or they send my money or get a credit card.

Clueless And Lousy

Posted by: sjh13 | Dec 15, 2018

So sorry that I didn't take the opportunity to close out my CD when I had the chance, when Nationwide sold the biz to AXOS. AXOS is completely incompetent. First, they had trouble transferring my accounts from Nationwide, so I couldn't see my accounts for days on end, and regardless of reaching out to them, never actually heard back...just eventually I was able to log in, and see them. But, now, they show that they are truly idiotic: I'll just attach the correspondence, and you can judge for yourself. I made an inquiry about procedure, and got a response that was a complete disconnect from my question:
I wrote: How do I instruct AXOS during my 10 day grace period, to close the CD and move the funds to my Checking account? (I'm a Nationwide customer) Will a phone call do, or do you need a form or something in writing/ If in writing, does it have to be mailed in, or will an email or secure message via this message center suffice?

They answered: Hello Sally, We regret to hear that you are considering closing your account. Before I officially submit the closeout request and in an effort to retain your business, I am hoping you can provide me any of your feedback or concerns regarding our pricing, processes and/or services so I can personally address them. We would love the opportunity to keep your business with our bank! At your earliest convenience if you could reply to this message with some additional information we would be more than happy to further assist you.

I can't wait to leave this moronic bank.


Posted by: AndyF150 | Dec 8, 2018

I opened a checking and savings account online. The online process was pretty straightforward and painless. The bank has gone to great pains to make everything look slick and sophisticated. Their account offerings are also very attractive at the surface. From the get go, there was a hiccup in their account on-boarding process which caused me to be unable to use the mobile deposit feature. An online message to their customer care took three days for a reply. A call to customer service was lukewarm at best. The representative could only tell me that the account opening process hadn't completed, and that she couldn't provide me with more information. She did advise me that she was going to send an email up the chain for the issue to be researched and that I would receive a phone call back when the issue was resolved. The issue did get resolved, but no follow-up phone call was ever received. I submitted an online deposit successfully. The confirmation email I received advised me that a 5 day business hold would be in effect for the deposit, but since the account was less than 30 days old, the deposit would be held for a total of 7 business days. Their motto is, "Banking evolved". In my opinion it's more like "banking devolved".

End Relationship

At this time, the Bank has made the decision to end our banking relationship.

As indicated in your Deposit Account Agreement accepted during account application, "The Bank reserves the right to close your account for any reason, without cause, or notice."

This decision is final. All account access is disabled.

Any remaining funds will be mailed to your address on file.

Best Regards,

Axos Bank™ Customer Service

I dont know what kind of information this bank is getting about their prospective customers. but when they accidently open an account for somebody they sure send a jacked up letter to you. out of the blue. I opened an account online and recieved a debit card and everything then out of the blue got the aforementioned letter. I told them i wouldnt bank with them with their own money. the right hand obviously doesnt know what the left hands doing, and i wouldnt want them in charge of anything of mine

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