Advertiser Disclosure
Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.

Axos Business Interest Checking Review — Features, Pros & Cons

Axos Logo

Our rating


Axos Bank Business Interest Checking

  • Account opening bonus: Up to $400
  • Monthly fee: $10 but can be waived
  • Minimum deposit: $100
  • Minimum ongoing balance: $0
  • Account yield: Up to 1.01% APY
  • Deposit insurance: Yes, up to $250,000

As online banks grow in number and become more sophisticated, more and more small-business owners are asking themselves whether a traditional bank or credit union account makes sense anymore. Unless you just can’t live without the peace of mind that comes with being able to walk into a physical bank branch, the value is less and less clear.

Axos Business Interest Checking certainly gets this. It’s a full-service small-business bank account that puts Axos Bank’s considerable banking know-how at your disposal without ever asking you to visit a physical branch. It pays interest at competitive rates too.

That said, Axos Business Interest Checking has some downsides, starting with a monthly maintenance fee that requires a $5,000 ongoing balance to waive. Before you open an account, make sure you understand the good and the bad.

What Is Axos Business Interest Checking?

Axos Business Interest Checking is a small-business checking account with a $10 monthly maintenance fee. Axos Bank waives the fee in any statement cycle where you maintain a daily balance of at least $5,000.

Axos Business Interest Checking pays up to 1.01% APY on balances up to $20,000. Amounts above this threshold earn interest at far lower rates, but all balances have at least some yield.

Axos Business Interest Checking has some other notable features, including unlimited domestic ATM fee reimbursements, 50 free paper checks when you open your account, and external integration with QuickBooks accounting software. However, there’s a limit of 100 free transactions per month, so it can quickly get expensive for high-volume users.

What Sets Axos Business Interest Checking Apart?

Axos Business Interest Checking stands out for several reasons:

  • Competitive yield on eligible balances. This account yields 1.01% APY on balances up to $20,000. Balances above this amount pay less interest, but every dollar earns something. That’s unusual for a business checking account.
  • Free paper checks. This account comes with 50 free paper checks, which should be plenty for most business owners these days.
  • Unlimited ATM fee reimbursements. There’s no limit to the number or dollar value of ATM fees Axos reimburses with this account. If your business does lots of cash transactions, this is a critical benefit.
  • 100 free transactions per month. You can only complete 100 transactions (including debits, credits, and deposits) each month before incurring a $0.50 fee per transaction. There’s a separate limit of 60 free remote check deposits per month, but that doesn’t solve the fundamental problem of being able to use your debit card less than four times per day on average before paying a surcharge.

Key Features of Axos Business Interest Checking

Axos Business Interest Checking has some important limitations and restrictions, along with some potentially useful features.

Account Opening Bonus

For a limited time, you can earn a new account holder bonus worth up to $400.

Just apply by June 30, 2024 and use the promo code NEW400 to claim your bonus.

Account Fees & Waiver Requirements

This account has a $10 monthly maintenance fee. It’s waived in any statement cycle where you maintain a daily balance of at least $5,000.

Minimum Deposit & Balance Requirements

You need to deposit at least $100 when you open your account. There’s no ongoing minimum balance requirement, but the monthly fee is $10 unless you keep at least $5,000 in the account at the close of business each day.

Account Yield

Axos Business Interest Checking earns 1.01% APY on balances up to $20,000. Amounts above this threshold earn between 0.10% and 0.20% APY, but there’s no maximum balance to earn interest.

ATM Access

Axos Bank reimburses domestic ATM fees without any limits. You may still pay a surcharge if you use your debit card at an ATM outside the United States.

Transaction Limits

You’re entitled to 50 free transactions (debits, credits, and deposits) per month. After that, there’s a $0.50-per-transaction surcharge. Remote check deposits don’t count toward this limit; you get 60 of those free each month.

Paper Checks

You get 50 free paper checks when you open your account. Check reorders may incur fees, depending on the number and type of checks.

External Integrations

Axos Business Interest Checking integrates with the QuickBooks accounting platform. You can import your checking account activity into QuickBooks whenever you need to. 

Business Services

As a full-service business bank, Axos offers a range of services for small and midsize companies, such as treasury management (for more complicated financial needs), payment processing assistance and other merchant services, SBA lending, and relationship manager access during extended business hours. Everything is available online; no need to walk into a branch.

Mobile Features

Axos Bank has a powerful mobile app that’s well-reviewed by verified users. For Business Interest Checking customers, it can do anything the desktop interface can, and it’s a useful hub for your Axos experience if you have more than one account with the bank. Notable capabilities include:

  • Mobile check deposit
  • Person-to-person payments
  • Scheduled and recurring bill payments
  • Secure messaging with relationship managers

Deposit Insurance

Axos Business Interest Checking comes with FDIC insurance up to the current limit of $250,000. If Axos Bank fails, the federal government protects balances up to this amount.

Pros & Cons

Axos Business Interest Checking has some clear upsides and some just-as-obvious downsides.


  • Competitive interest rate on eligible balances
  • Unlimited domestic ATM fee reimbursements
  • Full suite of business banking services


  • $10 monthly fee without waiver
  • No rewards program
  • Tight monthly transaction limits


Axos Business Interest Checking is an interest-bearing checking account with some potentially valuable perks.

  • Competitive interest rate. Axos Business Interest Checking has one of the better interest rates of any business checking account. It’s right up there with the top consumer high-yield checking accounts.
  • Unlimited domestic ATM fee reimbursements. Axos Bank reimburses U.S. ATM fees without any dollar value or transaction caps. This is a big advantage over business bank accounts that limit reimbursements or don’t offer them at all.
  • Free paper checks when you open your account. You get 50 free paper checks when you open your account, which should be enough to see you through weeks if not months of regular business.
  • Full suite of business services without an in-person appointment. Unlike many online business banks, Axos Bank is a full-service financial institution with loan officers, treasury management specialists, and other human banking experts.


Axos Business Interest Checking is missing some important features and isn’t particularly friendly to budget-conscious entrepreneurs.

  • No rewards program. This account has no debit card rewards program and no real purchase perks. In other words, there’s no way to earn a return on everyday business spending.
  • Tight limits on free monthly transactions. You get just 100 free transaction per month with this account. After that, each transaction costs $0.50. The one exception is remote check deposits, which come with their own limit of 60 per month. But any transaction limits at all are unwelcome in a small-business account (and increasingly uncommon in the space).
  • $10 monthly maintenance fee without waiver. This account has a $10 monthly maintenance fee. To get it waived, you need to maintain a minimum daily balance of $5,000, which could be tough for very small businesses.
  • Limits on external integrations. This account has just one external integration of note: QuickBooks. Many otherwise similar accounts integrate with a dozen apps or more, spanning e-commerce, workplace productivity, payments, and other important business processes.

How Axos Business Interest Checking Stacks Up

Before you apply for an Axos Business Interest Checking account, see how it compares to similar small-business checking accounts. Novo Business Checking offers an illuminating head-to-head.

Axos Business Interest CheckingNovo Business Checking
Monthly Fee$10$0
Monthly Fee Waiver$5,000 minimum daily balanceNot needed
Minimum Balance$100 to open, $0 ongoing$50 to open, $0 ongoing
IntegrationsYes, QuickBooks onlyYes, about a dozen including Stripe, Amazon, and Shopify
InvoicingNoYes, built into the app
Budgeting ToolsNoNo
YieldUp to 1.01% APYNone
ATM AccessUnlimited in the U.S.Unlimited worldwide

Axos Business Interest Checking’s biggest advantage is its yield on all balances (and its very competitive yield on balances up to $20,000). Elsewhere, Novo Business Checking offers better value thanks to built-in invoicing tools, a dozen third-party integrations, and no monthly fee.

Final Word

There’s more to Axos Business Interest Checking than the typical online small-business checking account. That’s mainly down to Axos Bank’s full spectrum of business banking services rather than anything special about this account itself.

In fact, Axos Business Interest Checking has some important downsides that should give you pause. The monthly fee and transaction limits are problematic for cash-strapped and high-volume businesses, respectively, and this account lacks some potentially useful features (like extensive third-party software integrations) found elsewhere. Axos Business Interest Checking could be the best business banking option for you, but be sure to see what else is out there before deciding for sure.

The Verdict

Axos Logo

Our rating


Axos Bank Business Interest Checking

Axos Bank Business Interest Checking is an excellent choice for business owners looking to earn interest on day-to-day balances while benefiting from direct access to human banking professionals. Unlimited domestic ATM withdrawals and 50 free paper checks don’t hurt either. But this account has some downsides, like tight transaction limits and no debit card rewards, so it’s worth seeing what else is out there before applying.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.