Axos Rewards Checking $150 Bonus

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Axos Bank : Rewards Checking

$150

Offer Expires In

How To Earn The Bonus

  1. Open a new Rewards Checking account with promo code "MAY150".
  2. Within the first 3 calendar months, make direct deposits totaling at least $1,500 in a single calendar month.
  3. Bonus will be deposited into your new checking account within five (5) business days of your third statement cycle date.

Available in Your Area?

Yes

Monthly Fees?

No

Open Online?

Yes

Credit Pull?

Unknown

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at Axos

For the month of May, Axos is offering to put an extra $150 in your pocket. This is the highest bonus we've seen on this account!

To qualify for the bonus, you'll need to open a new Rewards Checking account and set up direct deposit.

This cash bonus is in addition to the account's APY, which could see you earning up to 1.25% 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 in order to earn the $150 bonus.

Full requirements to receive this bonus are:

  1. Open a new Rewards Checking account with promo code "MAY150".
  2. Within the first 3 calendar months, make direct deposits totaling at least $1,500 in a single calendar month.
  3. Bonus will be deposited into your new checking account within five (5) business days of your third statement cycle date.

The fine print

  • Account must remain open for 180 days or an early closure fee of $50 may apply.
  • Limit one Rewards Checking bonus offer and account per primary account holder.
  • Customers who have an existing Axos Bank or Axos Bank for Nationwide Checking account as of 04/30/2022 are not eligible for this offer.

How does this 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:

Citi

Citi Priority Account

Bonus
up to $1500
Account Type
Personal Checking
Expires In
50 days
Requires
  • Min Balance

Fifth Third Bank

Personal Checking

Bonus
$350
Account Type
Personal Checking
Expires In
125 days
Requires
  • Direct Deposit

Chase

Chase Total CheckingĀ®

Bonus
$200
Account Type
Personal Checking
Expires In
53 days
Requires
  • Direct Deposit

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 fee.