Axos ONE checking and savings account review
Axos ONE bundles savings and checking together for simplicity and convenience. You can earn interest on savings and checking balances when certain requirements are met. There are no monthly fees to detract from your interest earnings. Rates accurate as of Aug. 24, 2026.
Axos ONE streamlines banking by giving you access to checking and savings in the same place. You can manage your accounts through the Axos mobile banking app and easily link external accounts to make deposits or withdrawals.
Banking with Axos could make sense if you:
- Are comfortable with online checking and savings accounts
- Prefer a bank account with no monthly maintenance fees
- Would like to earn a competitive APY on savings while also earning interest on checking balances
- Appreciate the simplicity of keeping checking and savings in one place
This is an online checking account so there are no branches to visit, but you can access funds using your debit card or at more than 95,000 ATMs. You can also get paid up to two days early when you enroll in direct deposit.
Interest and rewards
Some bank accounts offer interest, while others offer rewards. And some give you a little of both.
Axos ONE checking and savings pays interest, but it doesn’t have a separate rewards program. If you’re searching for rewards, Axos Rewards Checking could be a better alternative.
Axos ONE uses separate APYs for checking and savings. When you meet the monthly qualification requirements, you can earn a promotional 0.51% APY on checking and up to 4.21% APY on savings. If you do not qualify in a given period, checking earns 0.00% APY and savings earns a standard 1.00% APY.
Promotional APYs (when requirements are met)
| Account | Promotional APY | Standard APY (if requirements not met) |
|---|---|---|
| Axos ONE Savings | 4.21% on balances up to $249,999.99; 3.50% on balances of $250,000 and above | 1.00% |
| Axos ONE Checking | 0.51% | 0.00% |
Savings is tiered: balances from $0 through $249,999.99 earn the top promotional rate of 4.21% APY when qualified; balances of $250,000 or more earn 3.50% APY at the promotional tier. Rates are variable and may change.
How to qualify for promotional rates
To earn promotional APYs on both checking and savings, your Axos ONE checking account must meet both requirements in either option below during the qualification period.
The qualification period runs from the first business day of the month through the 25th of the month. Qualifying deposits must post and clear by the 25th to count for that period.
Option 1
- Receive at least $1,500 in total monthly qualifying direct deposits, and
- Maintain an average daily checking balance of at least $1,500
Option 2
- Receive at least $5,000 in total monthly qualifying deposits, and
- Maintain an average daily checking balance of at least $5,000
Qualifying direct deposits typically include payroll or government benefits received via ACH. Qualifying deposits under Option 2 may include external ACH transfers, inbound wires, mobile check deposits, and real-time payments from external accounts.
The requirements are typical of what other banks expect for interest or rewards checking accounts. However, it’s important to consider whether you can meet each one to help decide if Axos ONE makes sense for you.
If you don’t get paid via direct deposit, Option 1 may not work for you, and you might want to look elsewhere for an interest checking account. You can still earn the standard 1.00% APY on savings if you don’t meet promotional requirements, but your checking balance will not earn interest.
Fees
Online banks like Axos tend to charge fewer fees than traditional banks. They can do this because they have lower overhead costs, so they can afford to pass savings on to their customers.
Still, this account isn’t fee-free. Here are some of the most important fees to keep in mind.
| Type | Fee |
|---|---|
| Monthly Maintenance Fee | $0.00 |
| Foreign ATM Fee | $0.00 |
| Statement Copy Fee | $5 |
| Official Checks | $10.00 |
| Overdraft Fee | $0.00 |
| Returned Payment Fee | $25.00 |
| Stop Payment | $10 |
| Excess Withdrawal Fee | $10 |
| Foreign Transaction Fee | 1% |
| Incoming Wire Transfers (Domestic and International) | $0.00 |
| Outgoing Wire Transfers (Domestic and International | $35-$45 |
| Account Research and Reconciliation | $35/hour |
| Legal Fee | $100.00 |
Most of these fees should be easy to avoid if you don’t need to stop a payment, get an official check or send an outgoing wire transfer. There are no requirements you need to meet to avoid a monthly maintenance fee since Axos doesn’t charge one for this account.
Branch and ATM access
Axos ONE includes a debit card that you can use to withdraw cash fee-free at more than 95,000 ATMs. Since this is an online bank, there are no branches.
If you’re considering an online bank, it’s important to check the size of the ATM network and whether the bank will reimburse out-of-network ATM fees. Those fees can easily add up if you’re making frequent stops for cash at out-of-network ATMs.
Axos ONE Checking reimburses up to $10 in domestic out-of-network ATM operator fees per month, per Axos’s account agreement. Axos does not charge its own foreign ATM fee, but ATM owners may still assess a surcharge.
Also, consider whether you’re comfortable with online banking in general. While you may not visit a branch that often, you may prefer having the option to do so.
Account access
Axos offers mobile banking and online banking access to help you manage your money. And again, you can visit more than 95,000 ATMs nationwide. Some of the options you have for depositing money into your account include:
- Direct deposit
- Mobile check deposit
- ACH transfers from linked external accounts
- Incoming wire transfers
- Cash deposits at participating ATMs
You can also deposit cash at ATMs. The daily ATM withdrawal limit is $1,010 when using your Visa Debit card, per Axos’s deposit account agreement.
Axos doesn’t partner with Zelle, so you won’t be able to use it to make person-to-person payments through online or mobile banking. You can, however, link your Axos ONE accounts to the Zelle app to send and receive funds with friends and family.
If you’d like to pay bills with your Axos ONE accounts, you can do that online or through the Axos app. There’s no fee to use online bill pay.
FDIC insurance
When shopping for a new place to bank, it’s important to make sure that it’s FDIC-insured. The FDIC offers deposit account coverage to member banks; this coverage protects the bank’s depositors in case of failure.
Bank failures don’t happen that often, but when they do, the FDIC steps in to prevent customers from losing their money. Your deposits at Axos Bank are FDIC-insured up to $250,000 per depositor, per ownership category, the standard federal coverage limit. Coverage applies automatically when you open an eligible account at an FDIC-member bank.
Axos ONE savings customers can also enroll in the Axos Insured Deposit Program for expanded FDIC coverage of up to $2.5 million at no additional cost. The program distributes eligible balances across a network of FDIC-insured partner banks while you continue to manage your account through Axos.
Security and other features
Beyond rates and fees, Axos ONE includes several features worth noting:
- Biometric login through the Axos mobile app for secure account access
- Real-time fraud monitoring to help detect suspicious activity
- 24/7 customer support by phone for account questions
- $50 referral bonus when you refer a friend who opens an eligible Axos account and meets program requirements
What you need to open an account
Axos makes it easy to open new accounts online. You’ll need to fill out a simple application and give Axos some basic information, including your:
- Name
- Date of birth
- Social Security number
- Mailing address
- Email address
- Phone number
You’ll also need your bank account number and routing number to link an external account for your opening deposit. There’s no minimum deposit you’re required to make but you will need to fund your account eventually so that it isn’t closed down.
That account opening process takes just a few minutes and you can upload all of the required documentation online. Once your account is approved, Axos will issue a debit card and ship it to your address. You’ll just need to activate your card once you receive it to start using it.
Axos ONE checking and savings account pros and cons
Pros
- Bundled checking and savings in one account
- Promotional APYs up to 4.21% on savings and 0.51% on checking when requirements are met
- No monthly maintenance, overdraft, or account-opening fees
- No minimum balance requirement to open or maintain the account
- Access to more than 95,000 fee-free ATMs nationwide
- Up to $10 per month in domestic out-of-network ATM fee reimbursements
- Early direct deposit up to two days ahead of payday
- Expanded FDIC coverage up to $2.5 million through the Axos Insured Deposit Program
Cons
- Online-only bank with no branch access
- Must meet monthly qualification requirements to earn advertised APYs
- Checking earns 0.00% APY and savings drops to 1.00% APY if requirements are not met
- Promotional rates require consistent direct deposits or qualifying deposits plus minimum average daily balances
- Zelle is not built into Axos online or mobile banking (must use the standalone Zelle app)
- Out-of-network ATM reimbursements capped at $10 per month
Compared to other checking accounts
Axos Bank Rewards Checking
If you’re just looking for a checking account but still want to earn interest, you might consider the Axos Bank Rewards Checking account. This account earns a competitive APY compared to other interest checking options with no monthly fees. Axos also reimburses you for all domestic ATM surcharges with this account.
Ally Bank Interest Checking
Ally Bank Interest Checking earns a lower APY than other interest checking options, but it’s still worth a look thanks to its low fees and large ATM network. There are no minimum deposit requirements to open this account and you can add an Ally high-yield savings account if you’d like to earn even more interest. Ally doesn’t charge monthly maintenance fees or overdraft fees.
LendingClub Rewards Checking
LendingClub Rewards Checking earns unlimited 1% cash back on eligible transactions, putting money back in your pocket. There are no monthly maintenance fees or overdraft fees, and no minimum balance requirements to open this account. LendingClub also offers unlimited ATM fee rebates to sweeten the deal.
Frequently asked questions
Is Axos Bank a good bank?
Axos Bank has a solid reputation for being a good and trustworthy online bank. The bank offers a variety of products, including personal checking and savings accounts as well as business accounts. Axos is an FDIC member so you can feel confident that your deposits are protected in the worst-case scenario.
Is an interest checking account worth it?
An interest checking account could be worth it if you’re able to earn a competitive APY while paying minimal fees. Axos ONE lets you earn interest on checking and savings together, as long as you meet the minimum balance and direct deposit requirements. The APY is well above what you might find at some competitor banks.
What are the pros and cons of online banks?
Online banks have some advantages over traditional banks since they often pay higher rates on deposit accounts while charging fewer fees. Some online banks offer added features or benefits like savings buckets or money management tools that add to their value. The biggest con, of course, is that online banks typically don’t offer access to branch banking.
