Axos Bank requires no minimum balance across all personal accounts — checking, savings, and money market. There is no minimum opening deposit and no monthly maintenance fee. You can open an account with $0 and keep it open indefinitely with a $0 balance without incurring any charges.
Axos Bank Balance Requirements at a Glance
| Account | Monthly Fee | Minimum Balance | Opening Deposit |
|---|---|---|---|
| Rewards Checking | $0 | $0 | $0 |
| Essential Checking | $0 | $0 | $0 |
| CashBack Checking | $0 | $0 | $0 |
| High Yield Savings | $0 | $0 | $0 |
| First Checking (teens) | $0 | $0 | $0 |
No account tier at Axos carries a balance requirement or a maintenance fee. This applies on day one — there is no grace period or waiver condition.
What “No Minimum Balance” Actually Means
At traditional banks, minimum balance requirements are one of the primary fee triggers. The structure typically works one of two ways:
- Average daily balance — your balance must stay above a threshold (e.g., $1,500) on average across the month, or a fee applies
- Minimum ending balance — your balance must be at or above the threshold at the end of each statement period
When customers dip below the threshold, the bank charges a monthly maintenance fee — typically $10–$15. At $12/month, that’s $144/year in fees for simply not having enough money in your account.
Axos eliminates this entirely. There is no threshold, no average to maintain, and no fee triggered by a low balance. The account behaves identically whether it holds $10 or $100,000.
What Happens If Your Axos Balance Drops to $0
Your account remains open and active with a $0 balance. Axos does not charge:
- A low-balance fee
- A dormancy or inactivity fee
- A monthly maintenance fee
- A minimum activity fee
The only practical consequence of a $0 balance in a Rewards Checking account is that you earn $0 in interest that month — there’s nothing to earn APY on. Once you fund the account again, the rate resumes on your new balance.
This matters for a specific use case: people who use Axos as a secondary account for ATM access or travel, keeping most of their money elsewhere. A $0-balance secondary account at Axos costs nothing to maintain while still giving you the unlimited ATM reimbursement benefit whenever you load it up.
Rewards Checking: APY Tiers and Qualifying Activities
The Axos Rewards Checking account earns up to 3.30% APY — but the rate is conditional on meeting qualifying activities each calendar month.
| Qualifying activity | APY tier unlocked |
|---|---|
| Monthly direct deposit of $1,500+ | Tier 1 |
| 10+ debit card purchases per month | Tier 2 |
| Axos Invest account with activity | Tier 3 |
Meeting all three tiers: up to 3.30% APY on balances up to $50,000. Partial qualification earns a lower blended rate (approximately 0.65%–1.65% depending on which tiers are met). Meeting no conditions: baseline rate only.
Worked example — what the APY tiers are worth on a $15,000 balance:
| Scenario | APY | Annual interest |
|---|---|---|
| All 3 tiers met | 3.30% | ~$495 |
| 2 tiers met | ~1.65% | ~$248 |
| 0 tiers met | ~0.01% | ~$1.50 |
The gap between qualifying and not qualifying is nearly $494/year on a $15,000 balance. The qualification requirements are manageable for most primary account holders — a regular paycheck direct deposit and normal debit card use typically satisfy tiers 1 and 2 automatically.
Axos High Yield Savings: No Conditions Required
Unlike Rewards Checking, the Axos High Yield Savings account earns approximately 4.66% APY with no qualifying activity requirement. The rate applies to your full balance unconditionally — no direct deposit threshold, no transaction minimum.
This makes it the simpler of the two products: open it, fund it, and earn the full rate. The $0 minimum balance means you can open it before you’re ready to transfer money and start earning the moment your first deposit arrives.
The Real Cost of Banks That Do Have Minimums
For context, here’s what common minimum balance requirements at traditional banks cost customers who can’t consistently meet the threshold:
| Bank | Minimum to waive fee | Monthly fee if not met | Annual cost |
|---|---|---|---|
| Chase Total Checking | $1,500 avg daily balance | $12 | $144 |
| Bank of America Advantage Plus | $1,500 avg daily balance | $12 | $144 |
| Wells Fargo Everyday Checking | $500 min daily balance | $10 | $120 |
| Fifth Third Essential Checking | $1,000 avg daily balance | $11 | $132 |
| Axos (all accounts) | None | $0 | $0 |
For a household with an irregular income — gig workers, seasonal employees, or anyone building an emergency fund from a low starting point — a $120–$144/year fee for simply not having enough in checking is a significant drag. Axos eliminates this friction entirely.
Axos vs Competitors: Minimum Balance Comparison
| Bank | Minimum Balance | Monthly Fee | ATM reimbursement |
|---|---|---|---|
| Axos Rewards Checking | $0 | $0 | Unlimited |
| Ally Checking | $0 | $0 | Up to $10/month |
| SoFi Checking | $0 | $0 | Free at Allpoint |
| Charles Schwab Checking | $0 | $0 | Unlimited |
| Chase Total Checking | $0 | $12 (waivable at $1,500) | None |
| Wells Fargo Everyday Checking | $0 | $10 (waivable at $500) | None |
Axos and Schwab are the only two major banks in this comparison offering both $0 minimum balance and unlimited ATM reimbursement. For how they compare on other features, see Axos vs Schwab 2026.
Other Axos Account Details Worth Knowing
- Transfer limits: ACH outbound transfers have daily and monthly caps; wire transfers are available for large amounts
- Fees: No monthly fees, but wire transfers and some outbound wire services do carry costs — see the full fee schedule
- Routing number: 122287251 for all account types — use this to set up direct deposit, which also helps qualify for the Rewards Checking APY tiers
Related Guides
- Axos Bank hub 2026 — routing number, ATM reimbursement, and all account guides
- Axos Rewards Checking 2026 — APY tiers, qualifying activities, and how to maximize your rate
- Axos High Yield Savings 2026 — ~4.66% APY with no conditions
- Axos Bank fees 2026 — full fee schedule and what Axos doesn’t charge
- Axos Bank vs Schwab 2026 — two no-fee, no-minimum online banks compared
- Axos Bank routing number 2026 — 122287251, direct deposit setup
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