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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.

 Axos Bank
Member FDIC
Bank of America
Member FDIC
 Learn MoreLearn More
 

Axos Bank

Bank of America

SPECIAL OFFER
Basic Business Checking - Up to $400 Bonus - Learn More

Read Axos Bank Review

OFFER
Bank of America Advantage Banking - $300 Bonus Offer

Read Bank of America Review

 

Benefits and Features

Savings0.61% 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
CD0.20% APY. Terms of 3 months to 5 years. $1,000 minimum
  • 7-Month CD - 4.35% APY
  • 10-Month CD - 4.00% APY
  • 13-Month CD - 3.25% APY
  • 25-Month CD - 2.00% APY
  • 37-Month CD - 0.05% APY
  • 1-Month CD - 0.03% APY
  • 120-Month CD - 0.03% APY
CheckingRewards Checking: Up to 3.30% APY
Cashback Checking: Up to 1% cashback
Check
Money Market
0.25% APY
 
Mobile App
iOS & Android
 
ATMsapproximately 91,000 partner ATMs
Approximately 16,000+ ATMs
Customer Service
24/7
  • Mon-Fri: 8am - 9pm (ET)
  • Sat: 8am - 8pm (ET)
  • Sun: 8am - 5pm (ET)
IRA CD 
Check
Locations
Online only
3,922 financial centers
 

CreditDonkey® Reviews

 Axos BankBank of America
SavingsStarStarStarStarHalf StarStarStarEmpty StarEmpty StarEmpty Star
CDStarStarStarEmpty StarEmpty StarStarStarStarHalf StarEmpty Star
CheckingStarStarStarStarStarStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
ATMsStarStarStarStarHalf Star
LocationsStarStarEmpty StarEmpty StarEmpty Star
Customer ServiceStarStarStarStarEmpty Star
Pros & ConsPros:
  • Checking with rewards
  • No monthly fee
  • Domestic ATM rebates
Cons:
  • Low CD rates
  • No physical branches
Pros:
  • Large branch network
  • Extended service hours
  • Full service banking
Cons:
  • Monthly fees
  • Low interest rates
  • Many misc. banking fees
Bottom LineFull-service online bank with excellent cashback and interest checking... Read full reviewNational bank with widespread accessibility and wide range of services... Read full review
 Learn MoreLearn 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 09/24/2024 based on 91107 zip code.

    Axos Bank
    Member FDIC

    Basic Business Checking - Up to $400 Bonus

    Expires 10/31/2024
    • Business owners get up to $400 welcome bonus!*
    • Open a business checking account by October 31 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
    Axos Bank
    Member FDIC

    Business Premium Savings - Up to 4.01% APY

    • Unlock a bonus up to $375 with Business Premium Savings. Save more, pay lower fees, and get a limited-time bonus up to $375 with a 4.01% APY* Business Premium Savings account. Use promo code BPS375.†
    • Earn 4.01% APY* With Business Premium Savings
    • Free domestic and international incoming wires
    • No monthly maintenance fee
    • No minimum opening deposit
    • No average daily balance requirement
    • Business deposit accounts FDIC insured up to $250k
    Axos Bank
    Member FDIC

    High Yield Savings - Up to 0.61% APY

    • 0.61% APY on balance < $25,000
    • 0.25% APY on balance $25K-$100K
    • 0.15% APY on balance > $100K
    • No monthly maintenance fees
    • No minimum balance requirements
    • $250 minimum opening deposit
    • Free incoming wires
    • Zero minimum balance requirement
    Bank of America
    Member FDIC

    Bank of America Advantage Banking - $300 Bonus Offer

    Expires 1/31/2025
    • 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 01/31/2025.
    • 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
    Member FDIC

    Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer

    Expires 12/31/2024
    • 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 eligible business checking customers only.
    • Offer expires 12/31/2024.
    • 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
    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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