Introduction
The banking industry has undergone a tremendous transformation in the last decade. With the advent of digital banking, traditional banks have been forced to adapt to the changing landscape. One such bank that has embraced digital banking is the Bank of Axos. In this article, we will discuss the Bank of Axos and how it is changing the banking industry.
What is Bank of Axos?
The Bank of Axos is a digital bank that provides online banking services to its customers. It was founded in 2000 and is headquartered in San Diego, California. The bank offers a range of banking services, including checking accounts, savings accounts, money market accounts, and certificates of deposit.
Why is Bank of Axos Different?
The Bank of Axos is different from traditional banks in several ways. Firstly, it is a digital bank, which means that all its services are offered online. This makes it more convenient for customers as they can access their accounts from anywhere, at any time. Secondly, the bank offers higher interest rates on its savings accounts and certificates of deposit, which is a significant advantage for customers looking to grow their money.
Bank of Axos Checking Accounts
The Bank of Axos offers two different types of checking accounts: Essential Checking and Rewards Checking. The Essential Checking account is a no-frills account that is designed for customers who want a simple checking account without any monthly fees. On the other hand, the Rewards Checking account is designed for customers who want to earn rewards for using their account. Customers can earn cashback on their purchases, which is deposited directly into their account.
Benefits of Bank of Axos Checking Accounts
One of the biggest advantages of Bank of Axos checking accounts is that they are fee-free. This means that customers do not have to pay any monthly maintenance fees or ATM fees. Additionally, customers can access their accounts through a mobile app, which makes banking more convenient.
Bank of Axos Savings Accounts
The Bank of Axos offers two different types of savings accounts: High Yield Savings and High Yield Money Market. The High Yield Savings account offers a higher interest rate than traditional savings accounts, which means that customers can earn more money on their savings. The High Yield Money Market account offers a higher interest rate than traditional money market accounts, which makes it an attractive option for customers who want to earn more interest on their savings.
Benefits of Bank of Axos Savings Accounts
The Bank of Axos savings accounts offer several benefits to customers. Firstly, they offer higher interest rates than traditional savings accounts, which means that customers can earn more money on their savings. Secondly, the accounts are fee-free, which means that customers do not have to pay any monthly maintenance fees. Finally, customers can access their accounts through a mobile app, which makes banking more convenient.
Bank of Axos Certificates of Deposit
The Bank of Axos offers certificates of deposit (CDs) with terms ranging from 3 months to 5 years. CDs offer a higher interest rate than traditional savings accounts, which means that customers can earn more money on their savings. Additionally, CDs are a safe investment option as they are FDIC-insured up to $250,000.
Benefits of Bank of Axos CDs
The Bank of Axos CDs offer several benefits to customers. Firstly, they offer higher interest rates than traditional savings accounts, which means that customers can earn more money on their savings. Secondly, they are a safe investment option as they are FDIC-insured up to $250,000. Finally, customers can choose from a range of terms, which means that they can find a CD that suits their investment needs.
Bank of Axos Mobile App
The Bank of Axos mobile app is designed to make banking more convenient for customers. With the app, customers can access their accounts, deposit checks, transfer money, and pay bills. Additionally, the app offers features like mobile check deposit and fingerprint login, which makes banking more secure.
Benefits of Bank of Axos Mobile App
The Bank of Axos mobile app offers several benefits to customers. Firstly, it makes banking more convenient as customers can access their accounts from anywhere, at any time. Secondly, it offers features like mobile check deposit and fingerprint login, which makes banking more secure. Finally, the app is easy to use and navigate, which makes banking more user-friendly.
Conclusion
The Bank of Axos is a digital bank that is changing the banking industry. With its fee-free checking and savings accounts, high-yield CDs, and convenient mobile app, the bank offers several benefits to customers. If you are looking for a digital bank that offers high interest rates and convenient banking services, then the Bank of Axos is definitely worth considering.
