Axos Business Bank Account Review and Comparison

Hey there! Looking for a financial solution that meets your business needs? Well, you’re in the right place. Today, we’ll be reviewing and comparing four products offered by Axos Bank to help you make an informed decision: the Axos Bank Business Savings Account, Axos Bank Basic Business Checking, Axos Bank Business Interest Checking Account, and Axos Bank Business Money Market Account. Each of these products has its own unique features and benefits, so let’s dive in and find the perfect match for your business! When it comes to managing your business’s finances, having the right tools is crucial. That’s where these products come in. Business savings accounts have been around for years, providing a safe and secure way to store and grow your business’s funds while earning competitive interest rates. On the other hand, business checking accounts offer the convenience of easy access to your funds, making it simple to pay bills, manage outgoing expenses, and deposit checks. But Axos Bank has taken things a step further with their interest checking account, which not only provides the benefits of a traditional checking account but also earns interest on your balances. And if you’re looking for a higher interest rate and the flexibility to write checks, the business money market account might be the perfect fit. In this article, we’ll be taking a closer look at each of these products, comparing their features, fees, and benefits. You’ll get an in-depth understanding of how these accounts can benefit your business and help you make the most of your financial resources. So, let’s get started and find the ultimate financial companion for your business!

Axos Bank Business Savings Account

This image is property of images.pexels.com. The Axos Bank Business Savings Account is primarily designed for business owners who want to grow their savings and earn interest. Whether you are a small, mid-sized, or large business, this account can cater to your saving needs. There are several reasons why we think the Axos Bank Business Savings Account stands out among its competitors. First and foremost, it provides an opportunity for business owners to earn interest on their savings. This can help businesses maximize their financial growth and profitability. We also appreciate that this account has no minimum balance requirement and no monthly maintenance fees. This means that you can start saving with whatever amount you have, without worrying about any extra charges eating into your balance. Additionally, the account comes with unlimited deposits, allowing you to save as much as you want, whenever you want. Furthermore, the Axos Bank Business Savings Account offers convenience in accessing funds through online and mobile banking. This means you can easily manage your savings and make transactions anytime and anywhere, providing you with the flexibility that today’s business environment demands. The main purpose of the Axos Bank Business Savings Account is to provide businesses with a secure and flexible way to save and grow their funds. This account is equipped with key features that make it a valuable tool for businesses: The account earns competitive interest rates, which are compounded daily and credited monthly. This means that your money will work harder for you, helping you increase your savings over time. With online and mobile banking, you can conveniently access your savings, make transfers, and monitor your account activity. This allows you to have full control over your funds and manage your savings efficiently. The Axos Bank Business Savings Account comes with FDIC insurance up to $250,000 per depositor. This means that your savings are protected, adding an extra layer of security and peace of mind. This account also offers free online statements, making it easier for you to keep track of your savings and monitor your financial progress. Plus, with unlimited deposits, you can continuously grow your savings without any limitations. The Axos Bank Business Savings Account exceeds expectations in terms of its quality. It provides business owners with a secure and convenient way to save, while also offering competitive interest rates. The absence of minimum balance requirements and monthly maintenance fees further adds to its appeal. The account’s accessibility through online and mobile banking platforms makes it incredibly convenient for businesses to manage their savings, even on the go. Furthermore, the FDIC insurance ensures that your savings are protected, giving you the confidence to save with peace of mind.

• No minimum balance requirement.
• No monthly maintenance fees.
• Competitive interest rates.
• Convenient online and mobile banking access.
• FDIC insurance up to $250,000.
• Free online statements.
• Unlimited deposits.
• Limited customer support availability.
• Lower interest rates compared to some competitors.

The Axos Bank Business Savings Account offers business owners a high-quality savings account that comes with a range of benefits. Whether you are a small business looking to start saving or a larger enterprise aiming to maximize your savings, this account provides the tools and features necessary to achieve your financial goals.

Axos Bank Basic Business Checking

This image is property of images.pexels.com. The Axos Bank Basic Business Checking account is designed for small businesses and sole proprietors who are seeking a straightforward and affordable banking solution. Whether you are just starting out or have been in business for years, this account is ideal for managing your day-to-day banking needs and keeping your finances organized. We love the Axos Bank Basic Business Checking account because it offers a range of features that cater specifically to the needs of small businesses. From the 200 free transactions per month to the absence of monthly maintenance fees, this account truly stands out as a convenient and cost-effective option for entrepreneurs like you. The purpose of the Axos Bank Basic Business Checking account is to provide small businesses and sole proprietors with a reliable and user-friendly banking solution. With this account, you can easily manage your finances and focus on growing your business. Here are some of the key features: No need to worry about excessive transaction fees. With the Axos Bank Basic Business Checking account, you receive 200 free transactions every month. This includes deposits, withdrawals, electronic transfers, and more. This feature alone can save you a significant amount of money compared to traditional banking options. Say goodbye to unnecessary monthly fees that eat into your profits. The Axos Bank Basic Business Checking account does not charge any monthly maintenance fees. This means you can keep more money in your business and allocate it towards more important expenses. In today’s fast-paced digital age, having access to your banking needs on the go is essential. With Axos Bank’s online and mobile banking services, you can conveniently manage your account from anywhere at any time. You can easily check your balance, transfer funds, pay bills, deposit checks using your smartphone, and even set up account alerts to stay updated on your financial activity. To make your business transactions even more convenient, Axos Bank provides debit cards with their Basic Business Checking account. These cards can be used for everyday purchases and ATM withdrawals, allowing you to easily access your funds whenever and wherever you need them. Axos Bank understands that every business has unique needs. In addition to the core features of the Basic Business Checking account, they also offer additional services for an extra fee. These services include wire transfers for swift and secure money transfers, as well as cash management tools to help you streamline your financial operations. The Axos Bank Basic Business Checking account is highly praised for its user-friendly interface, competitive features, and affordability. The account is designed with small businesses in mind, ensuring that entrepreneurs can easily manage their finances and focus on what matters most – growing their business. The absence of monthly maintenance fees and the inclusion of free transactions make this account an excellent choice for small business owners who want to maximize their savings.

• 200 free transactions per month, including deposits, withdrawals, and electronic transfers.
• No monthly maintenance fees, allowing you to keep more money in your business.
• Online and mobile banking services for convenient account management.
• Debit cards provided for easy spending and ATM withdrawals.
• Additional services available for an extra fee, such as wire transfers and cash management tools.
• A minimum opening deposit of $1,000 is required, which may be a barrier for some small businesses or sole proprietors.

The Axos Bank Basic Business Checking account offers a range of features and benefits that make it an excellent choice for small businesses and sole proprietors. With 200 free transactions per month, no monthly maintenance fees, and convenient online and mobile banking services, this account makes managing your business finances easy and cost-effective. The debit cards, additional services, and availability of cash management tools further enhance the overall quality of this product. Keep in mind that a minimum opening deposit of $1,000 is required, but the numerous advantages outweigh this minor drawback. Take control of your business finances with the Axos Bank Basic Business Checking account today.

Axos Bank Business Interest Checking Account

This image is property of images.pexels.com. The Axos Bank Business Interest Checking Account is specifically designed for business owners who want to earn interest on their checking balance while enjoying the convenience of modern banking features. This account is ideal for businesses of all sizes, whether they are just starting out or are already established. We believe that the Axos Bank Business Interest Checking Account is a great choice for business owners for several reasons. First and foremost, it allows businesses to earn interest on their checking balance, meaning that their money can work for them while they focus on growing their business. This is particularly beneficial for businesses with substantial funds in their checking account. Moreover, this account offers a range of features that are essential for efficient day-to-day banking operations. With online and mobile banking, business owners can conveniently manage their accounts, make transactions, and monitor their balance from anywhere at any time. The inclusion of bill pay and eStatements streamlines the business’s financial management processes, making it easier to keep track of expenses and payments. The primary purpose of the Axos Bank Business Interest Checking Account is to provide business owners with a checking account that not only allows them to earn interest on their balance but also offers essential banking features to facilitate seamless financial management. One of the key features of this account is the ability to earn interest on the checking balance. This is a rare offering among business checking accounts, and it can significantly contribute to a business’s financial growth. The account also provides access to over 91,000 ATMs nationwide, ensuring that business owners can easily access their funds whenever needed. In terms of online and mobile banking, the platform is user-friendly and intuitive, allowing business owners to efficiently manage their accounts without any technical complications. Additionally, the inclusion of bill pay and eStatements enables businesses to streamline their payment processes and maintain accurate records of transactions. The Axos Bank Business Interest Checking Account stands out for its exceptional quality. With its interest-earning capability, extensive ATM network, and robust online and mobile banking features, this account offers a comprehensive solution for business owners. Not only does it provide businesses with the means to grow their balance through interest earnings, but it also ensures that day-to-day banking operations can be conducted effortlessly. The convenience of online and mobile banking, coupled with the inclusion of bill pay and eStatements, makes this account a top choice for businesses looking for efficient financial management solutions.

• Ability to earn interest on your checking balance
• No monthly maintenance fees
• Unlimited domestic ATM fee reimbursements
• Extensive access to ATMs nationwide
• Convenient online and mobile banking features
• Streamlined payment processes through bill pay and eStatements
• Minimum opening deposit required
• Minimum balance required to avoid fees

While the Axos Bank Business Interest Checking Account offers numerous advantages, it is worth noting that there are a few considerations to keep in mind. A minimum opening deposit and minimum balance requirements are in place to avoid fees. However, these requirements vary depending on the account type and can be discussed with an Axos Bank representative during the application process. The Axos Bank Business Interest Checking Account is an excellent choice for business owners seeking to earn interest on their checking balance while enjoying the convenience of modern banking features. With its robust online and mobile banking, bill pay, and eStatements, this account offers a comprehensive solution for efficient financial management. Additionally, the absence of monthly maintenance fees and unlimited domestic ATM fee reimbursements make it a cost-effective choice.

Axos Bank Business Money Market Account

This image is property of images.pexels.com. The Axos Bank Business Money Market Account is designed to help businesses effectively manage their cash flow while earning competitive interest rates on their savings. This account is perfect for businesses of all sizes and industries, providing a secure and convenient solution for keeping their funds accessible and growing. At Axos Bank, we understand the unique needs and challenges that businesses face when it comes to managing their finances. That’s why we have created the Business Money Market Account, offering a range of features and benefits that can help businesses thrive. Here are a few reasons why we like this product:

• Competitive Interest Rates: With the Business Money Market Account, businesses have the opportunity to earn higher interest rates on their savings compared to traditional business savings accounts. This is especially beneficial for businesses with higher account balances.
• No Monthly Maintenance Fees: Unlike many other business banking options, there are no monthly maintenance fees associated with the Axos Bank Business Money Market Account. This means that businesses can save money while enjoying the convenience and benefits of this account.
• Easy Access to Funds: Managing cash flow is essential for businesses, and the Business Money Market Account allows for easy access to funds. Whether through online banking or our mobile app, businesses can conveniently and securely transfer money, make payments, and monitor their account activity 24/7.
• FDIC Insurance Coverage: The Business Money Market Account is backed by the FDIC, providing businesses with peace of mind knowing that their funds are protected up to the legal limit.

The purpose of the Axos Bank Business Money Market Account is to provide businesses with a reliable and flexible solution for effectively managing their financial needs. Whether it’s saving for future expenses, earning interest on idle funds, or accessing liquidity when required, this account offers the tools and features necessary for businesses to succeed. Key features of the Business Money Market Account include:

• Competitive interest rates: The account offers tiered interest rates, meaning higher balances earn higher rates.
• No monthly maintenance fees: Businesses can save money on unnecessary fees and allocate those funds towards their growth and development.
• Easy access to funds: With online and mobile banking, businesses can conveniently manage their funds from anywhere, at any time.
• FDIC insurance coverage: The account is insured by the FDIC up to the legal limit, ensuring the safety of business funds.

The Axos Bank Business Money Market Account is a high-quality product that provides businesses with a comprehensive set of features to effectively manage their finances. The combination of competitive interest rates, no monthly maintenance fees, and easy access to funds makes this account an excellent choice for businesses of all sizes.

• Competitive interest rates: The tiered interest rates offered by the Business Money Market Account allow businesses to earn higher returns on their savings.
• No monthly maintenance fees: With no monthly fees, businesses can keep more of their hard-earned money in their accounts.
• Easy access to funds: Businesses can conveniently manage their cash flow through online and mobile banking, ensuring they have access to the funds they need when they need them.
• FDIC insurance coverage: The account is backed by the FDIC, providing businesses with peace of mind and protection for their funds.
• Minimum balance requirement: To open and maintain the Business Money Market Account, businesses are required to maintain a minimum balance. However, the benefits of the account often outweigh this requirement.
• Interest rates may vary: As with any interest-bearing account, the interest rates on the Business Money Market Account are subject to change based on market conditions. However, historically, Axos Bank has offered competitive rates to its customers.

The Axos Bank Business Money Market Account is a reliable and flexible banking option for businesses. With its competitive interest rates, no monthly maintenance fees, easy access to funds, and FDIC insurance coverage, this account offers businesses the tools they need to effectively manage their cash flow while earning a return on their savings.

Comparison of Axos Bank Business Savings Account, Basic Business Checking, Business Interest Checking Account, and Business Money Market Account

Specifications

Specification	Axos Bank Business Savings Account	Axos Bank Basic Business Checking	Axos Bank Business Interest Checking Account	Axos Bank Business Money Market Account
Minimum Balance Requirement	No minimum balance requirement	$1,000 minimum opening deposit	Minimum balance requirement to avoid fees	Minimum balance required to open and maintain account
Monthly Maintenance Fees	No monthly maintenance fees	No monthly maintenance fees	No monthly maintenance fees	No monthly maintenance fees
Account Access	Online and mobile banking	Online and mobile banking	Online and mobile banking	Online and mobile banking
Interest	Interest is compounded daily and credited monthly	N/A	Earning interest on checking balance	Competitive interest rates
FDIC Insurance Coverage	Up to $250,000 per depositor	N/A	N/A	FDIC insurance coverage up to the legal limit
Additional Features	Free online statements and unlimited deposits	Bill pay, check deposits, and account alerts	Unlimited domestic ATM fee reimbursements	Easy cash flow management
Additional Services (Extra Fee)	N/A	Wire transfers and cash management tools	N/A	N/A

Comparison

When considering the various business banking products offered by Axos Bank, you have several options to choose from. Each product has its own set of specifications and features that cater to different business needs. Here is a comparison of the Axos Bank Business Savings Account, Basic Business Checking, Business Interest Checking Account, and Business Money Market Account:

• Axos Bank Business Savings Account: This account is ideal for business owners who want to grow their savings while earning competitive interest rates. With no minimum balance requirement or monthly maintenance fees, you have the flexibility to save without any additional costs. The account also comes with FDIC insurance coverage up to $250,000 per depositor, ensuring the safety of your funds.
• Axos Bank Basic Business Checking: Designed for small businesses and sole proprietors, this account offers 200 free transactions per month and no monthly maintenance fees. While there is a $1,000 minimum opening deposit required, you can easily manage your account through online and mobile banking services. Features like bill pay, check deposits, and account alerts make it convenient to handle your day-to-day banking needs.
• Axos Bank Business Interest Checking Account: If you want to earn interest on your checking balance, this account provides the opportunity to do so. While there is a minimum opening deposit and minimum balance requirement to avoid fees, the account offers various features such as online and mobile banking, bill pay, and eStatements. Additionally, you’ll enjoy unlimited domestic ATM fee reimbursements and access to over 91,000 ATMs nationwide.
• Axos Bank Business Money Market Account: This account is suitable for businesses looking to earn competitive interest rates on their savings. With no monthly maintenance fees, you can save without any additional costs. The account also offers FDIC insurance coverage up to the legal limit, ensuring the safety of your funds. The interest rates are tiered, meaning that higher balances will earn higher rates. Overall, this account provides an effective way to manage your cash flow.

No matter what your business needs, Axos Bank has a range of products tailored to meet your requirements. Consider the specifications and features of each account to determine which one aligns best with your financial goals.

Conclusion: A Look at Axos Bank Business Accounts

Summary

In this review, we explored four different products offered by Axos Bank for business owners. We discussed the features and benefits of the Axos Bank Business Savings Account, Axos Bank Basic Business Checking, Axos Bank Business Interest Checking Account, and Axos Bank Business Money Market Account.

Product Highlights

The Axos Bank Business Savings Account offers competitive interest rates, no monthly maintenance fees, and easy online access. It is a great option for small businesses looking to grow their savings while keeping their funds easily accessible. The Axos Bank Basic Business Checking account offers a straightforward and no-frills banking experience for businesses with low transaction volumes. With no monthly fees and unlimited domestic ATM fee reimbursements, this account is ideal for small businesses on a tight budget. The Axos Bank Business Interest Checking Account combines the benefits of a checking account with the ability to earn interest. With no monthly maintenance fees and unlimited domestic ATM fee reimbursements, this account is perfect for businesses that maintain a higher balance and want to earn interest on their funds. The Axos Bank Business Money Market Account provides a higher interest rate than traditional savings accounts, with easy access to funds through checks or a debit card. This account is suitable for businesses with larger cash reserves that want the flexibility of writing checks while earning higher interest.

Drawbacks

While these accounts offer many benefits, it’s worth noting a few potential drawbacks. Some customers have reported issues with customer service responsiveness and online banking glitches. Additionally, certain accounts may require higher minimum balances to avoid monthly fees, which could be a limitation for smaller businesses.

Recommendation

Overall, Axos Bank offers a range of business banking products tailored to different needs. If you are a small business looking for a simple and cost-effective checking account option, the Axos Bank Basic Business Checking account is the way to go. For businesses with higher balances and a desire to earn interest, the Axos Bank Business Interest Checking Account or the Axos Bank Business Money Market Account are great choices. However, it’s important to consider your specific needs and balance requirements before making a decision.