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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| Visit Site | Visit Site | |
Axos Bank | Bank of America | |
|---|---|---|
Rewards Checking - Up to 3.30% APY - | Bank of America Business Advantage Checking Account - $200 Bonus Offer - | |
Benefits and Features | ||
| Savings | 0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over) |  |
| CD | 0.20% APY. Terms of 3 months to 5 years. $1,000 minimum | |
| Checking | Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback | |
| Money Market | ||
| Customer Service |
| |
| ATMs | ||
| IRA CD | | |
| Locations | Approximately 3,900 retail financial centers | |
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... |
| Visit Site | Visit Site | |
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 11/26/2023. Bank of America: Pricing information from published website as of 11/24/2023 based on 91107 zip code. | ||
Rewards Checking - Up to 3.30% APY
- Use promo code AXOS300 and apply by December 31st, 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
Basic Business Checking - Up to $400 Bonus
- Business owners get up to $400 welcome bonus!*
- Open a business checking account by Dec. 31 and get up to $400 when you use promo code NEW400 on your application and maintain a minimum average daily balance of $50,000.*
- Zero opening deposit and cash deposits accepted
- Zero minimum monthly balance requirements
- Two domestic wire reimbursements monthly
- Unlimited domestic ATM fee reimbursements
- Enhanced Visa benefits and first 50 checks free
- Dedicated relationship manager and more
Essential Checking
- Unlimited domestic ATM reimbursements
- No monthly maintenance fees
- No annual fee
- No overdraft or non-sufficient funds fee
Bank of America Business Advantage Checking Account - $200 Bonus Offer
Earn a cash bonus in three steps:
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC
- Open a new eligible business checking account by December 31, 2023
- Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
- Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC
Business Advantage Fundamentals™ Banking
- No fee for first 200 transactions per statement cycle
- No fee for first $7,500 in cash deposited per statement cycle
- Waive the $16 monthly fee in a variety of ways
Business Advantage Relationship Banking
- No fee for first 500 transactions per statement cycle
- No fee for first $20,000 in cash deposited per statement cycle
- Waive the $29.95 monthly fee by maintaining a $15,000 combined average monthly balance
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.
Is Axos Bank Legit
Is Axos Bank safe and legit? Find out if Axos is a good bank and learn more about its pros, cons, and common complaints.
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.
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?
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