What is the cons for Axos Bank?
Axos Bank is the 96th largest bank in the nation. It was established in 2000 and as of September of 2023, it had grown to 1,218 employees. Axos Bank's savings rates are 17% higher than the national average, and it has an A health rating.
Axos Bank is the 96th largest bank in the nation. It was established in 2000 and as of September of 2023, it had grown to 1,218 employees. Axos Bank's savings rates are 17% higher than the national average, and it has an A health rating.
We offer effective and personalized service. Your money is safe with Axos Bank. We are an FDIC-insured bank (certificate number 35546) and have epitomized financial strength and innovation. We have the technology and banking experience to empower our customers.
Reputation: Axos Bank has an A+ rating from the Better Business Bureau and an average user rating of 3.1 on WalletHub.
To reach 1.25% APY, customers must also link an Axos bank loan payment and an Axos investment account to their Rewards checking. Additionally, the linked investment account must have an average daily balance of $2,500 per month. Fees: Monthly maintenance fee: $0.
| Company | Forbes Advisor Rating | ATM Network |
|---|---|---|
| Discover® Bank | 4.3 | 60,000+ ATMs nationwide |
| Axos Bank | 4.2 | 91,000+ ATMs nationwide |
| Ally Bank | 4.2 | 43,000+ ATMs nationwide |
| nbkc bank | 4.2 | 37,000+ ATMs nationwide |
- Use your debit/ATM card at any ATM.
- Log in to online banking to initiate a wire transfer.
- Initiate a transfer of money to another financial institution.
Since we first opened for business on July 4, 2000, Axos Bank has been leading the way in digital banking.
Axos Bank requires a credit score of 700 or higher to get approved for a personal loan. If you don't have that, you won't be eligible for an Axos Bank personal loan because it doesn't allow you to apply with a co-signer or a joint applicant.
Can I deposit cash into my Axos account?
Instead, visit any local ACE Cash Express, CVS/Pharmacy, Dollar General, Kmart, Rite Aid, 7-Eleven, or Walgreens store, with your Axos Bank for Nationwide debit card and ask to load cash into your account at the register.
No, Axos Bank does not currently integrate with Zelle, though you can download the Zelle app and create a workaround as long as the person you're receiving or sending money to uses a bank that accepts Zelle.
Corporate Information. Axos Financial, Inc., with approximately $21.6 billion in consolidated assets as of December 31, 2023, is the holding company for Axos Bank, Axos Clearing LLC and Axos Invest, Inc.
Since 2000, we have embodied financial strength, excellence in customer service, and innovation in banking. We will continue to anticipate your needs, provide new technologies, and expand our products and services to help you stay ahead of the challenges of modern life.
High Yield Savings
Grow your savings faster with interest compounded daily. No monthly maintenance fees. No minimum balance requirements. Plus, a free ATM card upon request.
| ATM LIMIT | POS/PURCHASE LIMIT |
|---|---|
| $1,010 | $5,000 |
Axos Bank (formerly BofI Federal Bank) is a financial services company that manages nearly $20.3 billion in assets. Founded in 2000, we are one of the first banks to offer banking services exclusively online.
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All deposit accounts through Axos Bank are FDIC insured through Axos Bank. All deposit accounts of the same ownership and / or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546.
| Bank Name | City | Closing Date |
|---|---|---|
| Heartland Tri-State Bank | Elkhart | July 28, 2023 |
| First Republic Bank | San Francisco | May 1, 2023 |
| Signature Bank | New York | March 12, 2023 |
| Silicon Valley Bank | Santa Clara | March 10, 2023 |
Which banks are most at risk?
- First Republic Bank (FRC) . Above average liquidity risk and high capital risk.
- Huntington Bancshares (HBAN) . Above average capital risk.
- KeyCorp (KEY) . Above average capital risk.
- Comerica (CMA) . ...
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- Cullen/Frost Bankers (CFR) . ...
- Zions Bancorporation (ZION) .
- SoFi.
- American Express® National Bank.
- Axos Bank.
- Quontic.
- Western Alliance Bank.
- Capital One.
- Chase.
- Wells Fargo.
Transfer funds to another account with Axos Bank or with another financial institution. Log in to online banking and select Move Money. Initiate a wire transfer. Log in to online banking and select "Move Money" and then "Wire Transfers."
Yes, Axos Bank does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.
Our quick take: The Axos Bank Rewards Checking account is an FDIC-insured online checking account with no monthly fees or minimum deposits. Customers who meet specific balance requirements can earn highly competitive interest rates on their deposits, making it a solid contender for a wide range of consumers.
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