Axos Bank Basic Business Checking Reviews (Jan. 2021) | Business Checking Accounts

Highlights
Monthly Fee	$0
ATM Fee: Out-of-Network	$0
Minimum Balance to Avoid Monthly Fee	$0
APY (Annual Percentage Yield)	0%

Axos Bank Basic Business Checking Review

Axos Bank Basic Business Checking is offered by Axos Bank, a bank founded in 2000 and based in San Diego, CA. Axos Bank Basic Business Checking is available in 50 states (and Washington, DC).

Key Takeaways

$100 Signup Bonus. Open a new account and you can get up to $100 (see terms and conditions for more details).
0% APY. As with most checking accounts, Axos Bank Basic Business Checking does not pay interest.
$0 monthly fee. This account does not charge a monthly maintenance fee.
$1,000 minimum deposit. This account requires a higher minimum initial deposit than most of the checking accounts we track.
No minimum initial deposit. There is no minimum balance required to open an account.
No ATM fees. Axos Bank Basic Business Checking does not charge fees on ATM transactions.
ATM fee reimbursements. This account will reimburse you for the ATM fees charged by other financial institutions.
Free bill pay. Pay your bills to practically anyone in the United States through Axos Bank.
Hard credit pull. Axos Bank may require a hard pull on your credit report to open a checking account.

Axos Bank Basic Business Checking Pros & Cons

Pros	Cons
Offers a signup bonus. Available in all 50 states. Access to physical branches. Free debit card and the option to lock/unlock the card if lost or stolen No charge on incoming domestic or international wire transfers.	Does not earn interest Higher than average wire transfer fees.

Axos Bank Basic Business Checking FAQ

Are business checking accounts from Axos Bank federally insured?

Yes, your Axos Bank business checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #35546). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Axos Bank Basic Business Checking offer?

Axos Bank Basic Business Checking is not an interest-bearing account.

What are the account minimums for Axos Bank Basic Business Checking?

Axos Bank Basic Business Checking requires a minimum initial deposit of $1,000 to open an account.

Axos Bank Basic Business Checking Account Minimums
Description	Amount
Minimum Initial Deposit	$1000

What fees does Axos Bank Basic Business Checking charge?

The good news is that this account does not have a monthly service charge.

Axos Bank Basic Business Checking Fees
Description
Monthly Fee	$0
Paper Statement Fee	$5
ATM Fee: In-Network	$0
ATM Fee: Out-of-Network	$0
NSF Fee	$25
Overdraft Protection Fee (per transfer)	$0
Overdraft Item Fee	N/A
Early Account Closure	N/A
Returned Deposit Fee (Domestic)	$10
Debit Card Replacement Fee	$0
Bank Teller Fee	N/A
Check Cashing Fee	N/A
Online Bill Pay Fee	$0
Stop Payment Fee	$10
Check Image Service	N/A
Check Copy	N/A
Foreign Transaction Fee (Debit Card)	N/A
Wire Transfer Fee - Domestic (Outgoing)	$35
Wire Transfer Fee - International (Outgoing)	$45
Wire Transfer Fee - International (Incoming)	$0
Returned Deposit Fee (International)	$10
Wire Transfer Fee - Domestic (Incoming)	$0
ATM Reimbursement Monthly Limit	N/A

What features and perks does Axos Bank Basic Business Checking offer?

This account includes the following features:

Signup Bonus - Open an account and you will receive a signup bonus of up to $100.
ATM reimbursement - This account will reimburse you for the ATM fees charged by other networks.
Fraud monitoring - Axos Bank Basic Business Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
Mobile Banking Services - Axos Bank Basic Business Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
Nationwide ATM network - Conveniently transact at a nearby ATM.

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