May 7, 2022

Is Axos Bank Safe and Legit

Read more about Axos Bank
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by using our links. (read more)

Is Axos Bank safe and legit? Find out if Axos is a good bank and learn more about its pros, cons, and common complaints.

Axos Bank is known for its rewards checking and high-yield savings accounts. You can get rates higher than what you'd typically find at a traditional bank. Plus, there are no monthly fees to worry about.

But is Axos Bank a secure place to keep your money?

Below, find out if Axos really is a safe online bank and whether it's right for you.

How Does Axos Bank Keep You Safe?

Axos Bank is a legitimate online bank based in San Diego, California. As a full-service bank, it offers a variety of bank accounts, loans, and investment services.

Here are some of the features Axos Bank uses to protect your account:[1]

  • FDIC Insurance: Axos Bank is a member of the FDIC. Money in your bank account is protected up to $250,000.

  • SSL Encryption: Data encryption scrambles your sensitive information and keeps your private data private.

  • Firewalls: These scan for potential security risks and help to block any unauthorized access.

  • Automatic Logouts: If you're inactive for a period of time, you'll be automatically signed out to protect against others using your account.

  • Fraud Monitoring: Axos Bank monitors your account for fraudulent activity.

  • 2-Factor Authentication: Multiple steps of identity verification help to keep your account secure.

  • Anti-Virus and Malware Protection: Axos regularly updates their virus and malware protection software.

Axos Bank Products and Features

Axos offers a comprehensive range of products and services. Here's a closer look at what you can expect from each account type:

Checking Account

Savings Accounts

What Fees Does Axos Charge?

For the most part, Axos Bank has gotten rid of a lot of common banking fees. There are no overdraft fees and no minimum balance requirements. Plus, it also reimburses ATM fees.

Some fees you might encounter while using Axos include:[2]

  • Stop payment (online): $10
  • Stop payment (with assistance): $35
  • Outgoing domestic wire transfer: $35
  • Outgoing international wire transfer: $45
  • Debit card rush delivery: $50
  • Returned deposited item: $10
  • Paper statements: $5

Pros and Cons

Not sure if Axos is right for you? Review these pros and cons for the quick takeaway.


  • Easily manage account on the go
  • No monthly fees
  • Domestic ATM fee reimbursements
  • Few account fees
  • Large range of products
  • Generally offers competitive rates
  • Options for teens and seniors


  • Very few physical branches
  • Not great for cash deposits
  • Very low CD and money market rates

Online banks offer a lot of flexibility with mobile banking. But having no access to physical branches could be problematic to some people. If you're used to banking in person, it might be difficult to switch to an online-only bank.

If you're not sold on Axos, be sure to check out other options, including our list of the best national banks. Or, go back to the drawing board with these bank alternatives.

Axos Bank offers competitive rates on its high-yield savings and checking accounts. The rates on its money market accounts and CDs, on the other hand, are pretty low. There are other banks out there with much higher CD rates.

Axos Bank Customer Complaints

The Axos Bank mobile app has good ratings. It has a score of 4.6 out of 5 on the Google Play Store and 4.7 out of 5 on the Apple App Store. Most customers seem to like the bank in general. Some customers, however, do have issues with the app being laggy.

Reviews on the Google Play Store are more negative than on the Apple App Store. Android users might encounter more bugs than iOS users would.

Axos Bank has a Trustpilot score of 1.8 out of 5, which is a "Poor" rating. To be fair, this rating is out of only 25 reviews, so the sample size is pretty small. But the low score could be a sign of poor customer service.

Overall, Axos Bank is safe to use. But there may be some problems with how quickly customer service resolves issues.

Bottom Line

Axos Bank is a trustworthy bank that uses a wide range of security features to protect your account and your sensitive data. It provides encryption, firewalls, and anti-virus software to make your web and mobile banking experience safer.

No bank can offer a 100% guarantee that nothing bad will ever happen to your account. But Axos Bank's many safety features are a great line of defense in keeping your account and your money safe.


Axos Bank
Member FDIC

Rewards Checking - Up to 3.30% APY

Expires 6/30/2024
  • Use promo code AXOS300 and apply by June 30th, to earn up to a $300 bonus!
  • Up to 3.30% APY
  • Zero monthly maintenance fees
  • Zero overdraft or NSF fees
  • Zero minimum monthly balance reqs
  • Unlimited domestic ATM fee reimbursements
  • Online debit card management
  • Simple, 3-step process for direct deposit
  • Only $50 to open an account
Bank of America
Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Expires 5/31/2024
  • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 5/31/2024.
  • To qualify, open a Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new account within 90 days of opening.
  • Bank of America will attempt to pay bonus within 60 days.
  • Additional terms and conditions apply. See offer page for more details.
  • Bank of America, N.A. Member FDIC.
Member FDIC

Chase Total Checking® - $300 Bonus

Expires 7/24/2024
  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Discover Bank
Member FDIC

Online Savings Account - Earn 4.25% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required
CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.05% APY

  • 5.05% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC

Donna Tang is a content associate at CreditDonkey, a bank comparison and reviews website. Write to Donna Tang at Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.


Save money and build wealth. Sign up to get our FREE email newsletter.
Navy Federal High Yield Savings

Navy Federal High Yield Savings

Navy Federal Credit Union provides various financial products. But do they have a high-yield savings account? Find out here.
More Articles in Bank Reviews & Deals

About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2024 CreditDonkey Inc. All Rights Reserved.