Axos Bank Business Checking
Online business checking with high APY and no monthly fees.
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Axos Bank is an online-only bank that offers business checking accounts with competitive interest rates and no monthly fees. Its Basic Business Checking has no monthly fee, unlimited domestic ATM fee reimbursements, and remote deposit capture. A strong choice for freelancers who want the stability of an established bank without the brick-and-mortar fees.
Our Scores
4.2
Ease of Use
4.1
Features
4.5
Value
4.0
Support
Pros & Cons
Pros
- ✓No monthly maintenance fee on basic account
- ✓Unlimited domestic ATM fee reimbursements
- ✓Earn interest on balances with Business Interest Checking tier
- ✓Mobile check deposit and online bill pay
- ✓FDIC insured — established bank, not a fintech startup
Cons
- ✗No physical branches — fully online banking
- ✗No cash deposit capability
- ✗Fewer integrations than neobanks like Relay or Mercury
- ✗Customer service wait times can be long
Best For
- →Freelancers who want a bank account with no monthly fees
- →Those who want unlimited ATM fee reimbursements
- →Remote-first freelancers comfortable with online-only banking
- →Those who want an established bank without brick-and-mortar overhead
Not Ideal For
- ✗Freelancers who frequently deposit cash
- ✗Those who need in-person bank branch access
- ✗International freelancers needing multi-currency accounts
Pricing
Basic Business Checking
Free
- ✓No monthly fee
- ✓Unlimited transactions
- ✓ATM fee reimbursements
- ✓Mobile deposit
- ✓Online bill pay
Business Interest Checking
Free
- ✓Everything above
- ✓Earns interest on balance
- ✓Higher APY with larger balances
- ✓Business debit card
Frequently Asked Questions
Is Axos Bank legitimate and FDIC insured?
Yes. Axos Bank is a federally chartered bank and FDIC member. It is not a fintech startup — it is a licensed bank that has operated since 2000, formerly known as Bank of Internet USA.
How does Axos compare to Mercury for freelancers?
Mercury is designed for startups and tech companies with better integrations and a more modern interface. Axos is a full bank with ATM fee reimbursements and interest on deposits. Choose Mercury for tech-forward features; choose Axos for traditional banking without fees.
Other Banking Options
Tax Information Notice
This content is for informational and educational purposes only. It does not constitute tax, legal, or financial advice. Tax laws change frequently. Always consult a qualified CPA or Enrolled Agent for your specific situation.