New and established businesses can earn up to a $200 welcome bonus from Axos when they open a new business savings account. You'll need to fund the account with $2,500 and maintain that balance for 2 months. This is a straightforward offer from a top online bank, so we definitely recommend checking them out.
If you're also shopping for a business checking account, you can combine this offer with their $200 Basic Business Checking promotion, to earn up to $400 total.
How To Earn The Bonus
The Axos Business Savings promotion requires you to deposit and maintain a minimum balance in order to earn the up to $200 bonus.
Full requirements to receive this bonus are:
- Open a new Business Savings account using the link below. If you incorporated after June 1, 2020, use promo code NEWBIZ200 for the $200 bonus, otherwise use promo code NEWAXOSBIZ for a $100 bonus.
- In the first two months after account opening, maintain an average daily balance of $2,500.
- Bonus will be deposited into your account within 5 business days of your statement cycle date.
The fine print
- Business must be incorporated after 6/01/2020 and application must be submitted before 11:59pm on 03/30/2022 to qualify for the $200 bonus, otherwise bonus is $100.
- Account must remain open for 180 days or an early closure fee of $50 may apply.
- Must be new funds (IE did not originate from another Axos Bank brand account) to receive bonus credit.
- Terms and conditions subject to change without notice.
- Bank reserves the right to limit each customer to one new account-related gift incentive per calendar year.
How does this business savings offer from Axos compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
Chase Business Complete Checking®
- Account Type
- Business Checking
- Expires In
- 17 days
- Min Balance
- Card Spend (optional)
Why Axos Bank?
Axos is a relatively new, online-only bank, established in 2000 and based in California. They offer both personal and business products, with particularly competitive rates on the personal side. In fact, their personal checking account earns a higher rate than most money market accounts (though there are a couple of tier requirements to earn the full advertised rate).
Altogether, Axos offers fewer products than the big banks, but enough for the average consumer and small business owner: checking and savings accounts, CDs, home, auto and personal loans. Also under the Axos umbrella, the company offers Axos Invest, a robo-advisor similar to products like Betterment and Wealthfront.
Business Savings does charge a monthly fee of $5, but there are ways to get this waived:
- Maintain an average daily balance of $2,500.