Imagine getting points and rewards just for maintaining a checking account. This reality is possible with some online banks. However, an Axos checking account is considered the best option for most customers. This is because Axos offers rewards checking, which is extremely rare. It also charges 0 fees.
Customer service is reportedly decent and available through automated chat, 24/7 phone line, and online messaging. Unfortunately, there is no in-person customer service, but that is not surprising considering this is an online bank.
It is not a requirement to have a minimum balance, and there are zero monthly fees. Any fees that domestic ATM operators could charge are reimbursed. In addition, Axos works with Green Dot, a reliable third-party service, to allow customers to deposit cash into their accounts or reload debit cards. Common stores like CVS and 7-Eleven are participants.
An Axos checking account benefit is CashBack Checking, which gives the owner up to 1% cashback on the debit card transactions that require a signature. But, of course, 1% is the maximum amount – whatever you get back would depend on your balance. Another account option, Rewards Checking, comes with up to 1.25% APY; it’s intended for high account balances.
Axos Checking Account for CDs
Don’t think you have to have a high account balance to benefit from an Axos checking account. Even the accounts with lower balances still have early direct deposit options, unlimited ATM fee reimbursement (domestic), $0 overdraft / non-sufficient fees (the bank will turn down the transaction), $0 monthly balance requirements, etc.
All accounts and money in those accounts are 100% protected as The FDIC backs Axos. Up to $250,000 per depositor is insured. Axos also uses the highest security protocols on its web portal to protect accounts from digital fraud. Tools such as SSL encryption, automatic logouts, firewalls, inactive sessions, etc., are all used to help protect your personal information and money.
There is a mobile app for Axos customers who want to keep up with online banking from anywhere, through their smartphone. The app, like the web portal, is entirely safe and secure.
There are plenty of other account types available through this leading online bank. In addition to opening up an Axos checking account, you might want to look into CD accounts, high-yield savings accounts (0.61% APY), and money market accounts with 0.25% APY, with no minimum balance requirements. Many of these accounts have interest compounded daily.