Axos Bank vs Bank of America
Axos Bank is a full-service online bank with excellent cashback and interest checking. How does it compare to Bank of America? Read our comparison chart below.
Axos Bank offers a range of checking and savings products. Checking options includes a up-to 1% cashback account and rewards checking account with a higher interest rate. Savings options include savings accounts and CDs with higher-than-average rates. All accounts have no monthly service fees.
While Bank of America is one of the largest banks in the U.S. with approximately 4,300 locations and 17,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.
Compare Axos Bank with Bank of America, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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| Learn More | Learn More | |
Axos Bank | Bank of America | |
|---|---|---|
Rewards Checking - Up to 3.30% APY - | Bank of America Advantage Banking - $300 Bonus Offer | |
Benefits and Features | ||
| Savings | 0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over) | Bank of America Advantage Savings Standard Rate: 0.01% APY |
| CD | 0.20% APY. Terms of 3 months to 5 years. $1,000 minimum |
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| Checking | Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback |  |
| Money Market | ||
| Mobile App | ||
| ATMs | approximately 91,000 partner ATMs | |
| Customer Service |
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| IRA CD | | |
| Locations | ||
CreditDonkey® Reviews | ||
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| Savings |   |  |
| CD | | |
| Checking | | |
| Money Market | | |
| Mobile App | | |
| ATMs | | |
| Locations | | |
| Customer Service | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Full-service online bank with excellent cashback and interest checking... | National bank with widespread accessibility and wide range of services... |
| Learn More | Learn More | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Axos Bank: Pricing information from published website as of 09/27/2024. Bank of America: Pricing information from published website as of 05/07/2025 based on 91107 zip code. | ||
Rewards Checking - Up to 3.30% APY
- Build your own APY with up to 3.30% APY*
- Zero monthly maintenance fees
- Zero overdraft or NSF fees
- Zero minimum monthly balance reqs
- No initial deposit requirement
- Unlimited domestic ATM fee reimbursements
- Online debit card management
- Simple, 3-step process for direct deposit
Axos ONE - Earn up to 4.66% APY
- Earn up to 4.66% APY* on savings, and 0.51% APY* on checking when you meet requirements.
- Get your money up to 2 days early.
- No monthly maintenance, minimum balance, account opening, or overdraft fees.
Basic Business Checking - Up to $400 Bonus
- Business owners get up to $400 welcome bonus!* Open a business checking account by September 30 and get up to $400 when you use promo code NEW400 on your application.*
- No initial deposit requirement
- No minimum balance requirement
- No monthly maintenance fees
- Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
- Unlimited domestic ATM fee reimbursements
- Unlimited item processing (debits, credits, and deposited items)
- Cash deposits via MoneyPass and AllPoint networks
Bank of America Advantage Banking - $300 Bonus Offer
- The $300 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 05/31/2025.
- To qualify, open a new eligible 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 eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer
- 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 eligible business checking customers only.
- Offer expires 12/31/2025.
- To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
- Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
- ** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
- Bank of America, N.A. Member FDIC
Bank of America Advantage SafeBalance Banking®
- Banking that helps you stay within your balance.
- No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
- Bank of America, N.A. Member FDIC.
Which is Better: Axos Bank or Bank of America?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Axos Bank or Chase.
In short: Axos Bank's savings and checking are notable. In particular, the checking is excellent.
Articles on Axos Bank
Axos Bank Review
Axos Bank offers full-service banking completely online with no fees. Find out below whether they can replace your traditional bank account.
Axos Business Checking
Looking for affordable banking for your small business? Axos Bank offers a free business checking account or an interest-bearing account. Read on.
Articles on Bank of America
Bank of America Review
Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on.
Bank of America Savings Account Interest Rate
Bank of America's Advantage Savings has a standard APY way below the national average. Read on to find out more.
Bank of America High Yield Savings
Bank of America offers various banking products and services. But does it have a high-yield savings account? Find out here.
Bank of America Problems
Bank of America may be one of the biggest banks, but many customers find a lot of issues with their banking services. What are they? Keep reading.
Bank of America CD Rates
Bank of America is one the biggest banks in the U.S. But are their CD rates worth it? Read on to find out.
How to Close a Bank of America Account
Want to close your Bank of America account? Learn how and what you need to do before you close your account.
Bank of America Hours
Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below.
Bank of America Routing Number
Find your Bank of America routing number and learn about money transfers in our guide.
Which Do You Think is Best?
Which Bank Account is Right for You?
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