Axos Bank is an excellent online bank that completely removes many of the common fees that are charged by regular banks. It also offers great features such as Rewards Checking and certificates of deposit (CD). There are several 24/7 options available when it comes to customer services considering that Axos handles customer service remotely.
This Axos Bank review definitely goes in favour of this bank because you can easily avoid fees and start saving with higher-than-average yields. Previously, Axos Bank has been known as Bank of Internet USA and it offers a great low-cost alternative to traditional banking. It is perfect for customers who are looking to benefit from a high-yield savings account and has proven to be favourable time and time again. Their online-only customer service is only a tiny price to pay for the lack of fees.
Axos Bank has more than $10 billion in assets and is a solid full-service bank. Another incredible perk for customers who regularly pay cash is their unlimited ATM fee reimbursement. In this review, we will be looking at the pros and cons of Axos Bank and if it is right for you. For more, check out this CIT Bank review.
The pros and cons of Axos Bank
There is certainly a lot to say about Axos Bank as it has proven time and time again to be a reliable and straight forward online bank. It also has several distinct advantages that traditional downtown banks simply don’t harbour which is yet another upside to it. As well as no fees, they offer a strong checking reward program and they even offer mortgages at incredibly competitive rates.
Pros
- ATM reimbursement fees anywhere within the US
- No monthly fees on checking and savings accounts
- Great rewards for checking program
Cons
- Very poor rates on CDs
- Only two physical branches
Is Axos Bank right for you?
Axos Bank usually has nothing but praise sent its way when people are talking about it. It is definitely one of the top online banks around right now. There are no fees, no minimum balances, and it is certainly a breath of fresh air for a large banking sector that has short-changed its customers for years.
Although their CD yields and terms are actually quite poor, the majority of retail customers are delighted with the service that they are offered by Axos Bank. For all Americans who are looking to pay no fees, this is truly one of the best options around right now and it has several distinct advantages over other, traditional banks around right now. Since its inception back in 1999, it has gone above and beyond what anyone ever expected it to.
Previously known as Bofl Federal Bank until it was rebranded to Axos Bank in 2018, it is now a full-service bank that now has over $10 billion assets as well as 800 full-time employees. Check out Axos Bank and open your account today to begin changing your finances forever.
