May 7, 2022

Is Axos Bank Safe and Legit

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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

  • Use the promo code RC100 when you apply for a Rewards Checking account by 06/30/23. Then have qualifying direct deposit(s) to earn up a $100 welcome 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
Member FDIC

Chase Total Checking® - $200 Bonus

Expires 7/19/2023
  • New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit
  • Access to more than 16,000 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 fee 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*

*With Chase Overdraft Assist℠, we won't charge an Overdraft Fee 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 you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

Discover Bank
Member FDIC

Discover Online Savings - $200 Cash Bonus

To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code CY223 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 6/15/2023

Citi Priority Account - Earn up to $2,000 Cash Bonus

Expires 7/23/2023
  • Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities
  • Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
  • Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
  • If your balance falls to a lower tier at any point during the maintenance period, the bonus changes.
  • Bonus will be paid within 30 days after you successfully complete all required activities.
CIT Bank
Member FDIC

CIT Bank Platinum Savings - 4.85% APY

  • 4.85% 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.

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