Newest Axos Bank Promotions, Bonuses, Offers and Coupons: August 2021

Axos bank promotions

If you have money-related goals you want to reach, part of meeting them can mean shopping for a new place to bank. Doing so could also lead to hundreds of extra dollars in your bank account — if you do your research ahead of time.

Axos Bank is among the banks that might be able to pad your pockets with some fast cash this month. As an online bank, Axos provides the online small business and personal banking services you’d expect from a larger bank. Banking with Axos gives you access to checking and savings accounts, vehicle loans, mortgages and more.

The best Axos bank offers available in August are for people in the market for a new checking account or home mortgage. Take a look at these latest Axos Bank bonuses and promotions to see if they’re worth it.

Axos Bank Checking and Savings Promotions

Axos Bank is not currently offering any checking or savings account bonuses, but its low fees and high interest rates offer other ways to save. Plus, read on for a checking account with a unique cash back feature.

More From Your Money

Axos CashBack Checking: 1% Cash Back on Debit Card Purchases (Up To $2,000 a Month)

With an Axos CashBack Checking account, you’ll earn money on any transaction purchase that requires a signature — 1% on all qualifying purchases, as long as you maintain an average daily balance of at least $1,500 (if your average daily balance is below $1,500, you’ll still earn 0.50% cash back). The cash back, up to $2,000 per month, will be deposited into your account on your monthly statement cycle date. Only certain merchants qualify (grocery stores, discount stores, USPS and money transfer institutions are not eligible, among others), but you’ll still be earning cash back on purchases that would normally just be costing you.

  • Cash value: Up to $2,000 a month
  • Minimum deposit to open: $50
  • Expiration date: N/A
  • How to get it: Open an Axos CashBack personal checking account.
  • When you’ll get it: On your monthly statement cycle date
  • Terms and conditions: As mentioned above, only certain transactions qualify for the cash back, based on how Visa and Mastercard categorize them and the products and services they primarily sell. Purchases made using virtual wallets, funds transfer or similar services are not eligible. Closing your account mid-cycle will result in your cash back being forfeited, and if your account balance is zero at the end of your statement cycle, your cash back will be forfeited and your account closed.
  • Monthly fees: None
  • Promotion page: Axos CashBack Checking account

Axos Rewards Checking: Up To 1.25% APY

What sets Axos Rewards Checking apart is the opportunity to earn a high interest rate on your checking account balance. Most checking accounts earn no interest at all, so if you meet all or some of the requirements to garner the tiered interest rate, you’ll be coming out ahead. Additionally, you’ll qualify for the higher interest rates just by using your account. Read on for the details.

  • Cash value: Varies
  • Minimum deposit to open: $50
  • Expiration date: N/A
  • How to get it: Open an Axos Rewards Checking account. You can earn a total of 1.25% APY on balances up to $150,000 by doing the following:
    • Receive monthly direct deposits of $1,000 or more to get 0.4166% APY.
    • Make 10 debit transactions with your associated Visa debit card for another 0.4166% APY ($3 transaction minimum).
    • Make five additional debit transactions for yet another 0.4166% APY.
  • When you’ll get it: The interest rate for your current cycle will be determined based on which requirements you met during your previous account cycle.
  • Terms and conditions: Daily collected balances above $150,000 will not earn interest. Transactions must clear the account during the monthly qualification cycle and the interest rate may change at any time.
  • Monthly fees: None
  • Promotion page: Axos Bank Rewards Checking account

More From Your Money

Axos High Yield Savings Account: Up To 0.61% APY

Earn well above the national average on your savings account balance with this account’s 0.61% APY. That’s $61 a year on a balance of $10,000. Plus, the fact that it has no fees can save you potentially hundreds each year compared to a savings account with a high monthly fee.

  • Cash value: Varies
  • Minimum deposit to open: $250
  • Expiration date: N/A
  • How to get it: Open an Axos High Yield Savings account online, depositing at least the $250 needed to open the account. Balances up to $24,999 will earn the highest APY of 0.61%. Above that, balances $25,000-$99,999 will earn 0.25% APY and $100,000 or greater will earn 0.15%.
  • When you’ll get it: Interest is compounded daily
  • Terms and conditions: The interest rate is variable and may change at the bank’s discretion.
  • Monthly fees: None
  • Promotion page: Axos High Yield Savings account

Other Axos Bank Promotions

If you are already a customer and want to refer a friend, you can get paid for that. Plus, read on for details about how Axos Bank can help you save on a new mortgage.

Axos Bank Refer-a-Friend Program: $20 Bonus

When you refer Essential Checking to a friend as a customer of the bank, both of you have the chance to receive $20 Axos Bank bonuses. The best part is that referrals are unlimited, so if you have a big circle of friends — or family members — who are looking to open a checking account, you can rake in the cash. Here’s what you need to know so you and each of your friends can earn the offered bonus:

  • Cash value: $20 per referral
  • Minimum deposit to qualify: $0
  • Expiration date: N/A
  • How to get it: Refer the Axos Bank Essential Checking account to as many friends as you’d like. Each friend has to receive a direct deposit of at least $500 within 90 days of opening a new Essential Checking account.
  • When you’ll get it: The gift will be deposited into each of your accounts within seven business days of the end of the statement cycle once the referred friend meets eligibility requirements.
  • Terms and conditions: Customers will not earn a referral bonus if they refer themselves. Customers will not earn multiple bonuses if they open multiple accounts with Axos Bank.
  • Monthly fee: N/A
  • Promotion page: Axos Bank Refer-a-Friend bonus offer

    Axos Bank Mortgage Loan Promotion: Up To $995 Bonus

    Axos provides home mortgages with competitive interest rates. The bank is offering to waive the lender fee, up to $995, when you qualify for a home loan of $250,000 or more. Here’s more:

    • Cash value: Up to $995
    • Minimum deposit to qualify: N/A
    • Expiration date: None
    • How to get it: Qualify for an Axos home mortgage loan
    • When you’ll get it: At closing
    • Terms and conditions: You must have an existing Axos Bank checking account or open a new one during the loan application process. If your loan is less than $250,000, the closing cost waiver is $795.
    • Monthly fees: N/A
    • Promotion page: Mortgage loan promotion

    How To Open an Axos Bank Account

    Opening an Axos Bank account takes just a few minutes. If you’re a legal U.S. resident, you’ll need to choose your account and complete the online application. To apply, you’ll need:

    • Your Social Security number
    • A valid U.S. driver’s license, military or state ID
    • A valid U.S. address (no P.O. boxes)
    • A current routing number and bank account number or a credit or debit card for account funding

    Are Axos Bank Promotions Worth Switching For?

    If you’re in the market for a new business account or plan to apply for a new mortgage, Axos Bank’s promotions for August are worth considering. But cash bonuses and other rewards are not the only reason you should consider switching banks.

    Axos Bank is an award-winning bank with plenty of banking services for low fees. The bank prides itself on giving its customers the right tools and information to make smarter financial choices and gain progress toward their goals. Keep in mind that Axos Bank is an online-only bank, however, so if a face-to-face banking relationship is important to you, you may want to look elsewhere.

    Julia Gordon contributed to the reporting for this article.

    Information on promotions is accurate as of July 22, 2021. Additional requirements may apply. Offers, terms and rates are subject to change.

    Editorial note: This content is not provided by Axos Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Axos Bank.

    This article has been updated with additional reporting since its original publication.

    About the Author

    Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.

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