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Axos Bank vs BMO Bank

Axos Bank is a full-service online bank with excellent cashback and interest checking. How does it compare to BMO Bank? 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 BMO Bank has over 600 branches and is the 8th largest bank in North America by assets. Smart Advantage checking has no fee and no minimum balance if you opt for eStatements. Savings need just $100 to open with easy ways to waive fees. Special Rate CDs require a $5,000 minimum opening deposit.

Compare Axos Bank with BMO Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Axos Bank
Member FDIC
BMO Bank
Member FDIC
 Visit SiteVisit Site
 

Axos Bank

BMO Bank

SPECIAL OFFER
Rewards Checking - Up to 3.30% APY - Learn More

Read Axos Bank Review

SPECIAL OFFER
BMO Smart Advantage Checking - $350 Cash Bonus - Learn More

Read BMO Bank Review

 

Benefits and Features

Savings0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over)0.01% APY. $5 reward every month you save $200 or more, for the first year.
CD0.20% APY. Terms of 3 months to 5 years. $1,000 minimum0.05% - 4.90% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.
CheckingRewards Checking: Up to 3.30% APY
Cashback Checking: Up to 1% cashback
Smart Advantage, Smart Money, Relationship
Money Market
0.25% APY
1.00% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance.
Mobile App
iOS & Android
 
ATMsApproximately 91,000 partner ATMs
40,000+ BMO and Allpoint ATMs
Customer Service
24/7
Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm
IRA CD 0.05% - 0.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit
IRA Money Market IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee
Locations
Online only
981 branches
 

CreditDonkey® Reviews

 Axos BankBMO Bank
SavingsStarStarStarStarHalf StarStarStarEmpty StarEmpty StarEmpty Star
CDStarStarStarEmpty StarEmpty StarStarStarStarStarEmpty Star
CheckingStarStarStarStarStarStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
ATMsStarStarStarStarHalf Star
LocationsStarStarEmpty StarEmpty StarEmpty Star
Customer ServiceStarStarStarHalf StarEmpty Star
Pros & ConsPros:
  • Checking with rewards
  • No monthly fee
  • Domestic ATM rebates
Cons:
  • Low CD rates
  • No physical branches
Pros:
  • Free checking with eStatements
  • Large ATM network
  • Good financial tools
Cons:
  • Limited branches
  • Low savings APY
Bottom LineFull-service online bank with excellent cashback and interest checking... Read full reviewMidwest bank with options for low and high-balance customers... Read full review
 Visit SiteVisit 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 05/14/2024.

BMO Bank: Pricing information from published website as of 05/13/2024 based on 60603 zip code.

Axos Bank
Member FDIC

Rewards Checking - Up to 3.30% APY

Expires 6/30/2024
  • Use the promo code AXOS300 when you apply for a Rewards Checking account by June 30th, 2024. Then have qualifying direct deposits to earn up to a $300 bonus!†
  • 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 Bank
Member FDIC

Basic Business Checking - Up to $400 Bonus

Expires 6/30/2024
  • Business owners get up to $400 welcome bonus!*
  • Open a business checking account by June 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
Axos Bank
Member FDIC

CashBack Checking - Earn up to 1.00% Cash Back

  • Earn up to 1.00% cash back on signature-based purchases
  • Unlimited domestic ATM fee reimbursement
  • No monthly maintenance fee
  • $50 minimum balance required to open account
BMO Bank
Member FDIC

BMO Smart Advantage Checking - $350 Cash Bonus

Get a $350 cash bonus when you open a new Smart Money Checking or Smart Advantage Checking account and have a cumulative total of $4,000 in qualifying direct deposits within 90 days of opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.

Expires 9/9/2024
BMO Bank
Member FDIC

BMO Smart Money Checking - $350 Cash Bonus

Get a $350 cash bonus when you open a new Smart Money Checking or Smart Advantage Checking account and have a cumulative total of $4,000 in qualifying direct deposits within 90 days of opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.

Expires 9/9/2024
BMO Bank
Member FDIC

BMO Relationship Checking - $500 Cash Bonus

Get a $500 cash bonus when you open a new Relationship Checking account and have a cumulative total of $7,500 in qualifying direct deposits within 90 days of opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.

Expires 9/9/2024

Which is Better: Axos Bank or BMO Bank?

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, checking, and money market are notable. In particular, the checking is excellent. BMO Bank's cd is notable.


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.

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 BMO Bank

BMO Bank Review

BMO offers low fees and a large ATM network. But savings rates are low. However, the strong features can still make it a good bank for you. Read on.

BMO Routing Number

If you have a BMO Bank account, you only need to be aware of one routing number. This number is 071025661. Read on and learn how to use it.

Is BMO an Ethical Bank

BMO has been recognized as one of the World's Most Ethical Companies for six consecutive years. How did they earn this award? Find out.

BMO Relationship Minimum Balance

Get more perks when you open a BMO Relationship Checking Account. Find out the balance you need to reach to unlock them.

Is BMO a Good Bank

Is BMO a good choice for your banking needs? Find out here.

Is BMO a Safe Bank

Wondering about the security of your funds with BMO Bank? They have a Financial Crimes Unit backing you up, for one. Read on for more details.

What is BMO Bank

BMO Harris is now BMO. But are they a legit bank? Find out if you should bank with them.

BMO Smart Advantage vs Smart Money

BMO's Smart Advantage has $0 monthly fees. Smart Money has no overdraft fees. Which one is a smarter choice? Read on to find out.

Is BMO a Real Bank

BMO, is a U.S bank, part of the Bank of Montreal. It offers solid basic checking options and a large ATM network. But, is it legit? Read on to find out.

Which Do You Think is Best?





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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.

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