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Axos High Yield Savings Account

in Savings Accounts from Axos Bank · Member fdic

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Axos High Yield Savings Account

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in Savings Accounts from Axos Bank · Member FDIC

SuperMoney Net Recommendation Score +83

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +83, equating to 4.7 on a 5 point rating scale.

+83

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

10 users recommend
2 users are unsure
0 users don't recommend
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Highlights
Community Rating Strongly recommended
Monthly Fee $0
APY (Annual Percentage Yield) 0.15% - 0.61%
APY Minimum Balance N/A
Number of Reviews 12

Axos High Yield Savings Account Review

Axos High Yield Savings Account is offered by Axos Bank, a bank founded in 2000 and based in San Diego, CA. Axos High Yield Savings Account is available in 50 states (and Washington, DC).

Key Takeaways
  • $100 Bonus offer. Open a new account and you can get up to $100 if you deposit a minimum of $1,000 (see terms and conditions for more details).
  • Higher than average APY. Axos High Yield Savings Account has an annual percentage yield of up to 0.61%, which is higher than the national average interest rate on savings accounts.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • $250 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
  • No ATM fees. Axos High Yield Savings Account does not charge fees on ATM transactions.
  • ATM fee reimbursements. This account will reimburse you for ATM fees (see terms and conditions for details).
  • Bill pay. Pay your bills to practically anyone in the United States through Axos Bank.
Axos savings account Pros & Cons
Pros Cons
  • Offers a $100 bonus offer.
  • Available in all 50 states.
  • Interest-yielding account.
  • 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 offer mobile check deposits.
  • Higher than average wire transfer fees.
  • No ATM access to savings.
Axos savings account FAQ

Are savings accounts from Axos Bank federally insured?

Yes, your Axos Bank savings 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.

Does Axos Bank offer a signup bonus?

Axos savings account has a signup bonus of $100 with a $1,000 deposit.

What is the minimum initial deposit for Axos savings account?

The minimum deposit to open a Axos savings account is $250.
Axos High Yield Savings Account Minimums
Description
Minimum Balance to Avoid Monthly Fee $0
Minimum Combined Balance to Avoid Monthly Fee $0
Minimum Opening Deposit Starting at $250
Minimum Required Balance $0

What APY does Axos Bank offer?

Axos savings account offers an APY starting at 0.15% and ranging up to 0.61% (APY stands for annual percentage yield, rates may change).

What fees does Axos savings account charge?

Axos savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

  • Outgoing domestic bank transfers come with a $35 fee.
  • Outgoing international bank transfers come with a $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • Axos savings account charges $5 every time you request a paper statement.

Does Axos savings account charge overdraft fees?

No, Axos savings account does not charge overdraft fees.

What features and perks does Axos savings account offer?

This savings account includes the following features:

  • Signup bonus - Open an account and you may receive a signup bonus of up to $100 if you deposit a minimum of $1,000.
  • ATM reimbursement - This account provides ATM access and will reimburse you for the ATM fees charged by other networks.
  • Fraud monitoring - Axos savings account 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 Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to Axos savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

How do people rate the customer service and user experience of Axos savings account?

Overall, Axos savings account is strongly recommended based on community reviews that rate customer service and user experience.

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Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Minimum Balance to Avoid Monthly Fee $0
Minimum Combined Balance to Avoid Monthly Fee $0
Minimum Opening Deposit Starting at $250
Minimum Required Balance $0
Early Account Closure $0
Monthly Fee $0
Overdraft Item Fee $0
Overdraft Protection Fee (per transfer) $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $10
Wire Transfer Fee - Domestic (Outgoing) $35
Wire Transfer Fee - International (Outgoing) $45
Bauer Financial A+/A Rating
Bank Account Features
  • No ATM Fees
  • Free Bill Pay
  • No Monthly Maintenance Fee
  • ATM Reimbursement
  • Nationwide ATM Network
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • Bauer Financial A+/A Rating
  • Branch Access
  • FDIC Member
Bonus Offer You must open your new Essential Checking account at the same time as your High Yield Savings account and have a Direct Deposit totaling at least $1,000 from a third party within the first 60 days of account opening to your Essential Checking account to qualify for this bonus.
Signup Bonus $100
Signup Deposit Requirement $1,000
APY (Annual Percentage Yield) 0.15% - 0.61%

Axos High Yield Savings Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +83, equating to 4.7 on a 5 point rating scale.

+83

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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