Axos Bank Checking Account – 1.25% APY, No Monthly Charges and No Fee ATMs
Axos Bank has a checking account that offers one of the most competitive rates available. You can earn a 1.25% APY, which keeping the flexibility of a checking account. But it comes with monthly requirements, that usually make sense for primary checking accounts.
Open a Rewards Checking account at Axos Bank and earn 1.25% APY on balances up to $150,000 when you fulfill the following requirements:
- Direct deposits (not including intra-bank transfers from another account) totaling $1,000 or more each month will earn .4166%;
- At least ten (10) point-of-sale transactions per month using your Rewards Checking Visa Debit Card for normal everyday purchases with a minimum of $3 per transaction will earn .4166%;
- Adding five (5) or more point-of-sale transactions per month using your Rewards Checking Visa Debit Card for normal everyday purchases with a minimum of $3 per transaction will earn .4166%.
Qualifying transactions must post and clear the account during the monthly qualification cycle. Transactions may take one or more business days from the transaction date to post to the account.
- Never pay monthly maintenance fees again
- No Need to Keep a Minimum Balance to Avoid Fees
- No Overdraft or Non-Sufficient Fund Fees
- Make Unlimited Withdrawals From Any Domestic ATM for Free
This is a solid offer for people looking for a checking account. Earning 1.25% APY on checking account balances is pretty rare, and Axos Bank also reimburses unlimited out-of-network ATM fees in the U.S. The account has no fees either.
If you’re looking to get the best interest rates possible for your money, then you are better off with savings or money market accounts. But checking accounts give you more flexibility.