Axos Rewards Checking up to $300 Bonus

Axos logo

Axos Bank : Rewards Checking

up to $300

3.6

BankBonus.com score

Availability

Ease

Amount

Fees

Offer Expires In

How To Earn The Bonus

  1. Open a new Rewards Checking account with promo code AXOS300 and fund it within 30 days of account opening.
  2. During the first seven (7) calendar months your account is open (including the month in which it was opened), have qualifying direct deposit(s) that total at least $5,000 each calendar month.
  3. Each calendar month you complete these requirements, you'll earn $50, up to $300 total.
  4. Bonus(es) will be deposited into your new checking account within 10 business days following the eligible statement cycle date.

Available in Your Area?

Yes

Monthly Fees?

No

Open Online?

Yes

Credit Pull?

Unknown

Axos Bank logo

Apply Now

at Axos

Axos is offering to put up to an extra $300 in your pocket. This bonus is high for Axos; however, it also comes with some hefty requirements!

To qualify for the bonus, you'll need to open a new Rewards Checking account and set up direct deposit of at least $5,000. There's also a sizable minimum balance requirement which must be started immediately to earn the full bonus amount.

This cash bonus is in addition to the account's APY, which could see you earning up to 3.30% on your checking balance. Keep in mind that there are qualifying activities you need to do each month to earn the full rate, but it's definitely a competitive rate if you qualify.

How To Earn The Bonus

The Axos Rewards Checking promotion requires you to set up direct deposits and deposit and maintain a minimum balance in order to earn the up to $300 bonus (step-by-step breakdown is listed above!).

As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.

The fine print

  • Your Axos Bank Rewards Checking account must be open and in good standing at the time the bonus is paid to be eligible to receive the bonus, and your Axos Bank Rewards Checking account must remain open for 210 days, or an early closure fee of up to $300 may apply, equal to the amount of the total bonus earned up to $300.|Limit one Rewards Checking bonus offer and account per primary account holder.
  • Direct deposit funds must be new to bank from a third-party source (not originated from another Axos Bank brand account) to receive bonus credit.
  • Axos Bank reserves the right to limit each primary account holder to one (1) checking account promotional offer per year and customers who have held primary ownership of an Axos Bank or Axos Bank for Nationwide checking account at any time in the past 12 months may be disqualified from the “SUNNYBONUS" offer.
  • A maximum of six (6) payouts of $50 for each calendar month that the Rewards Checking account is receiving the direct deposit can be earned during the seven (7) statement cycles and the bonus will be deposited into your Axos Bank Rewards Checking account within 10 business days following the end of the statement cycle in which the balance requirement was met.

How does this personal checking 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:

PNC

Virtual Wallet®

Bonus
up to $400
Account Type
Personal Checking
Expires In
77 days
Requires
  • Direct Deposit

TD Bank

Beyond Checking

Bonus
$300
Account Type
Personal Checking
Expires In
261 days
Requires
  • Direct Deposit

U.S. Bank

U.S. Bank Smartly® Checking

Bonus
up to $700
Account Type
Personal Checking
Expires In
73 days
Requires
  • Direct Deposit
  • Min Balance (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.

Rewards Checking

Axos Rewards Checking has no maintenance fees and no minimum balance requirements either. You can earn interest on your balance up to $50k, but that rate is tiered based on meeting certain requirements:

  • 0.40% APY: Receive direct deposits totaling $1,500
  • +0.30% APY: Make 10 debit card purchases
  • +0.20% APY: Maintain an average daily balance of $2,500 per month in an Axos Invest Managed Portfolios Account.
  • +0.20% APY: Maintain an average daily balance of $2,500 in an Axos Self Directed Trading Invest Account
  • +0.15% APY: Use your Rewards Checking account to make your full monthly Axos consumer loan payment

Keep in mind that to be eligible for interest at all, you'll need to meet that first direct deposit requirement.

The bank does not charge NSF or overdraft fees and offers unlimited reimbursements on any domestic ATM fees incurred. There is a minimum deposit requirement of $50.00 to open the account.

Fees

Rewards Checking does not charge a monthly maintenance fee.

Share Your Thoughts or Questions

There have been 9 comments about the Axos Rewards Checking up to $300 Bonus.

Add to the discussion

Add to the discussion

Your email address will not be published.
Cancel Comment

Rebecca

November 17, 2023

I earned $150 in 2022 with only 1 direct deposit required and 180 day open period. It was all online, and straightforward, although a little slow to respond to online messages. They didn't record in my online account for 1-2 months that it was "closed." This is important to monitor for being able to open another account at a later date.

Extra bonus!!!!! Once in the system, I was offered a secondary bonus for $150 to open up an Axos Investment Portfolio. I had to leave $1000 in for 90 days, didn't even need to actually invest it. Since no direct deposit was needed, I was able to do this for my college student (aged 19, no paycheck), as well!

Reply

Reply to Rebecca

Your email address will not be published.
Cancel Reply

Jon Snow

November 16, 2023

I was instantly approved for this account. It's a long wait for the bonus but its worth it to me because of the easy requirements.

Reply

Reply to Jon Snow

Your email address will not be published.
Cancel Reply

Jamon

November 13, 2023

I earned $150 for $1500 in direct deposit in 60 days and keeping account open for 180 days. That was much easier than this current bonus which is spread out over 6 months of direct deposits, but at least the bonus is twice as high. I guess banks are trying to make it harder for bank bonus chasers like me (and likely you, since you're on this site).

Reply

Reply to Jamon

Your email address will not be published.
Cancel Reply

Klaus Pohlmann

November 6, 2023

I received this Axos Bank bonus this year. Just $1500 in direct deposits that have to happen within a single month, during your first 60 days. There’s no monthly fee, no minimum balance. Keep it open for 6 months or they might take the bonus back!

Reply

Reply to Klaus Pohlmann

Your email address will not be published.
Cancel Reply

Nicholas

November 15, 2023 Replying to Klaus Pohlmann

Good point about keeping it open for 6 months - I always try to look for those requirements in the terms.

Reply

Reply to Nicholas

Your email address will not be published.
Cancel Reply

Wayne

November 3, 2023

This is easy to qualify for. I used Wells Fargo for the direct deposit requirements. I suspect a few others would work.

Reply

Reply to Wayne

Your email address will not be published.
Cancel Reply

Nicholas

November 8, 2023 Replying to Wayne

So a transfer from Wells Fargo satisfied the direct deposit requirement for you? That's good to know. I'll probably try Ally and see if it works the same way.

Reply

Reply to Nicholas

Your email address will not be published.
Cancel Reply

mjonis

November 14, 2023 Replying to Nicholas

Yes, would be nice to know if Ally works as well. But also agree that the $1500 deposit offer is better than the $7,000 balance requirement for 6 months (I haven't calculated the lost interest with a 4.5% high yield savings account if you had the $7k in there for 6 months)

Reply

Reply to mjonis

Your email address will not be published.
Cancel Reply

Jamon

1 month ago Replying to mjonis

To deposit $7000 in a money market fund earning 5% (annually) for 7 months would earn about $200 interest. That means the extra value by going to Ally for this current bonus is only $100. And there is a risk I'll make a mistake over the 7 months and not get enough direct deposit funds in on any given month. No thank you.

Reply

Reply to Jamon

Your email address will not be published.
Cancel Reply