Axos Bank
Axos Bank Axos ONE (successor to Rewards Checking)
Bundled checking and savings that pays up to 4.21% when you hit the deposit hurdles
Insurance: FDIC insured through Axos Bank, a direct FDIC member; expanded coverage available via IntraFi sweep
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 + 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
- ▸Domestic out-of-network ATM fee reimbursement (up to $8/month)
- ▸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
- −ATM rebates capped at $8/month and domestic only
- −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 2026-06-11
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