Axos Bank
Axos Bank Axos ONE (successor to Rewards Checking)
By Alex Compton · Last verified
Bundled checking and savings that pays up to 4.21% when you hit the deposit hurdles
Insurance: FDIC insured through Axos Bank (FDIC Cert. 35546), a direct FDIC member; up to $2.5 million of coverage through the Axos Insured Deposit Program
Account Terms History
A dated record of APY, fees and opening requirements. New changes append to this table; prior terms remain visible.
| Observed | APY / yield | Monthly fee | Minimum | Evidence |
|---|---|---|---|---|
| 2026-10-12 | Up to 0.51% checking + 4.21% savings with qualifying activity (3.50% on $250,000+); up to 1.00% savings base; new accounts opened in October 2026 get 5.00% for six statement cycles | $0 | None | Axos ONE product page →Reconfirmed 4.21%/0.51% qualified rates and the $1,500 or $5,000 deposit-and-balance hurdles; added the 3.50% tier above $250k, the October 2026 5.00% new-account boost, 95,000+ ATMs and the Axos Insured Deposit Program; ATM reimbursement no longer advertised |
| 2026-06-11 | Up to 0.51% checking + 4.21% savings with qualifying activity; 1.00% savings base | $0 | None | Archive record · no attached snapshotLegacy snapshot before event-level evidence attachments |
Primary-source verification log
Append-only evidence ledger- changed
4.21%/0.51% qualified rates confirmed; added 3.50% tier above $250k, October 2026 5.00% new-account boost, 95,000+ ATMs, Axos Insured Deposit Program; ATM reimbursement no longer advertised
Fields: apy, fdic, plans, features, atm, cons
Axos ONE product page →
Plan Options
Base (hurdles not met)
$0
1.00% savings, minimal checking APY
- ▸Still no monthly fee or minimums
- ▸Keeps early direct deposit
- ▸Rates are uncompetitive at this tier
Qualified
$0
4.21% savings (3.50% on $250,000+) + 0.51% checking
- ▸Requires $1,500+ monthly direct deposits and $1,500 average daily balance, or $5,000 in monthly deposits with $5,000 average balance
- ▸Qualifying activity must post by the 25th of the month
- ▸Among the best bundled checking/savings rates available
Features
- ▸Checking and savings ship together as one bundle
- ▸Early direct deposit up to 2 days
- ▸No monthly maintenance fees, no overdraft fees, no minimum balance fees
- ▸Replaced Axos Rewards Checking, which was discontinued in April 2026
- ▸95,000+ fee-free ATMs
- ▸October 2026 new-account APY Boost: +0.79% for six statement cycles, 5.00% on the first $49,999.99
- ▸24/7 virtual assistant plus human support
Pros
- +4.21% on savings with a clean two-condition hurdle
- +Simpler than the old five-part Rewards Checking APY ladder
- +True bank charter with no fintech intermediary
- +Fee schedule is essentially zeros all the way down
Cons
- −Miss the deposit hurdle and the rate collapses to 1.00%
- −Direct deposit plus average-balance test is stricter than SoFi's any-amount rule
- −No out-of-network ATM fee reimbursement advertised on the product page
- −Axos discontinued its predecessor accounts with limited notice, a pattern worth knowing
Our Take
Axos retired the old Rewards Checking and its stacking-bonus APY puzzle in April 2026; Axos ONE is the cleaner replacement. Hit $1,500 in monthly direct deposits and keep $1,500 parked and you earn a savings rate that competes with anything in fintech, from an actual chartered bank. The penalty for slipping below the hurdles is steep, so this is for people with steady paychecks, not variable freelancers. Solid, but SoFi's softer requirements win for most.
Best for: Steady W-2 earners who can reliably clear the deposit-and-balance hurdle
Open at Axos Bank →Last verified 2026-10-12
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