Looking for a checking account that rewards you for doing what you already do—spend? Axos Bank’s CashBack Checking offers some attractive perks, including up to 1.00% cash back on your debit card purchases. Let’s see how this account compares to others and whether it’s really worth your time!
We all have that one account we use for everyday purchases, but how many checking accounts actually give back for the money you’re spending? With Axos Bank CashBack Checking, you can earn cash back every time you use your debit card, which is pretty rare for a standard checking account. But, like all financial products, it has its pros and cons. So, is this account truly a game-changer or just another account with shiny perks that don’t live up to the hype? Let’s dive in and figure that out!
Learn More About Axos Bank CashBack Checking
Key Takeaways
- Earn up to 1.00% cash back on debit card purchases when maintaining a $1,500 balance.
- No monthly maintenance fees, making it easier to keep your money working for you.
- Unlimited ATM fee reimbursements—use any ATM without extra charges.
- Useful extras like bill pay, credit score monitoring, and real-time alerts.
Why Choose Axos Bank CashBack Checking?
At first glance, Axos Bank CashBack Checking might seem like just another standard checking account. But as you dig deeper, there are a few features that really set it apart from the crowd, especially for those who want to earn something back from their spending.
1. Cash Back on Your Purchases
Most checking accounts won’t give you a dime for your debit card purchases. But with Axos Bank, you can earn up to 1.00% cash back on qualifying purchases, which is pretty rare for a checking account. As long as you maintain an average daily balance of $1,500, you’ll earn the full 1.00% cash back for each signature-based purchase. If your balance falls below that, you’ll still earn cash back—but at a reduced rate of 0.50%. Not bad, but not quite as rewarding.
While earning cash back is great, it’s important to keep in mind that not all purchases will qualify. For example, purchases made at certain types of merchants (like grocery stores or money transfer services) won’t count toward your cash back total. However, if you shop with your debit card at eligible merchants, you’ll see that cash back add up quickly over time.
If you enjoy earning cash back, learn more about Cash Back shopping apps such as TopCashback (earn $25) and Rakuten (earn $30 bonus).
2. No Monthly Fees—That’s Right, None!
A lot of checking accounts come with monthly maintenance fees that can really add up over the year, especially if you’re not actively using the account. But with Axos Bank CashBack Checking, there are no monthly maintenance fees to worry about. Whether you’re keeping a low balance or just not using the account much, you won’t be penalized for inactivity or falling below a minimum threshold.
This is a massive perk if you’re tired of seeing those fees cut into your balance every month. It’s a simple, no-hassle way to keep your account running without worrying about those extra costs.
For more free checking accounts, see this list of the best offers here.
3. Unlimited ATM Fee Reimbursements
If you’ve ever been stuck at an out-of-network ATM, you know how frustrating those fees can be. With CashBack Checking, you don’t need to stress about ATM fees because you’ll get unlimited reimbursements for domestic ATM withdrawals. That means you can use any ATM you want without having to pay for the privilege. Whether you’re on the road or just need cash quickly, this perk makes accessing your funds a whole lot easier.
If you’re someone who frequently uses ATMs outside of your bank’s network, this could be a big win for you.
How Does Axos Bank CashBack Checking Compare?
When comparing Axos Bank’s CashBack Checking to other major players, it stands out in a few key areas. Let’s take a quick look at how it stacks up:
| Feature | Axos Bank CashBack Checking | Chase Total Checking | Chime Checking |
|---|---|---|---|
| Cash Back | Up to 1.00% | None | None |
| Monthly Fees | $0 | $12 (waivable) | $0 |
| ATM Fee Reimbursement | Unlimited domestic | $2.50 per transaction | $0 |
| Other Perks | Bill Pay, credit score checks | Limited features | Limited features |
| BONUS OFFER | LEARN MORE | Earn $300 Cash | Earn $100 Cash |
Clearly, Axos Bank has the edge when it comes to rewarding customers for everyday spending with cash back, while also offering no monthly fees and comprehensive ATM fee reimbursements. If you’re looking for an account that adds value, CashBack Checking is a top contender. But with other checking accounts, such as the one from Chase Bank, you can earn a lucrative welcome bonus.
For a comprehensive list, see our list of the best bank bonuses here.
Extra Features You’ll Find Handy
Besides the cash back and fee-free perks, Axos Bank CashBack Checking comes with some handy features that make managing your finances a breeze:
- Bill Pay: Easily pay your bills online, which can help you stay on top of your finances and avoid missed payments.
- Credit Score Monitoring: Know where you stand financially with access to your credit score right from the app.
- Real-Time Alerts: Get notifications whenever a transaction is made, keeping you updated on your account activity.
Our Take
In summary, Axos Bank CashBack Checking offers a lot of value for those who are looking to earn something back from their everyday spending. With up to 1.00% cash back, no monthly fees, and unlimited ATM fee reimbursements, this checking account stands out as a solid option for anyone looking to make their money work a little harder.
The minimum balance requirement may not work for everyone, but if you’re someone who can maintain that $1,500 average daily balance, the rewards are certainly worth it. Whether you’re earning cash back, avoiding monthly fees, or not worrying about ATM charges, this account checks a lot of boxes.
If you’re ready to start earning while you spend, Axos Bank CashBack Checking might just be the perfect fit for you!
Find more Axos Bank checking & savings products here, many offer sign up bonuses worth hundreds of dollars. For a curated list of the best bank bonuses, see our guide to the best checking and savings account bonus offers here.
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