Axos Bank & Invest Bonus Promotions: $300 Checking, $200 Savings

When I first started blogging about banks over ten years ago, there used to be a bank called “Bank of Internet USA.” I thought that was the most generic name for a bank, like calling it the Bank of the World Wide Web or something like that.

As I would quickly learn, Bank of the Internet USA was a real bank founded in 1999 during the dot com boom. Whereas other tech startups just opted to add .com to their names and spend their money on ridiculously expensive Super Bowl ads, Bank of the Internet USA planted their flag as one of the first online banks of the world.

They would change their name to BofI Federal Bank in 2011 and then in 2018 they went with a rebrand to be officially known as Axos Bank.

This all to say that while you may not be super familiar with the name Axos Bank, they’ve been around quite some time. They are FDIC insured under certificate 35546, headquartered in San Diego, California and chartered as a Federal Savings Bank.

As for promotions, they have some active welcome cash bonus offers:

🔃 Updated November 2023 – with the new promotion code for the Axos Rewards Checking Bonus – AXOS300. The only thing that changed was the promotion code.

Axos Rewards Checking – $300

Axos Bank is running a great promotion where you can get a $300 bonus when you open an Axos Bank Rewards Checking account with the promotion code AXOS300.

Then, fund your account within 30 days of opening. Then, receive qualifying direct deposits totaling at least $5,000 each calendar month during the first seven calendar months your account is open plus maintain a minimum average daily balance of $7,000. The bonus is paid out $50 a month for each month in which you satisfy the direct deposit and average daily balance conditions..

The account has a $50 minimum opening deposit but the high yield savings account has no minimum balance requirements, pays interest, and there are zero monthly maintenance fees.

Get $300 from Axos Bank
(Offer expires 12/31/2023)

Axos Bank Prior Promotion Codes

Axos Bank has been running these promotions for a while and here is a list of the prior promotion codes they’ve used for this offer.

• for the period ending 3/31/2022 – the promotion code was LUCKY
• for the period ending 4/30/2022 – the promotion code was RC50
• for the period ending 5/31/2022 – the promotion code was MAY150
• for the period ending 6/30/2022 – the promotion code was RC100
• for the period ending 9/30/2022 – the promotion code was SUMMER
• for the period ending 11/7/2022 – the promotion code was RC300
• for the period ending 1/11/2023 – the promotion code was HOLIDAY
• for the period ending 3/31/2023 – the promotion code was RC100
• for the period ending 12/31/2023 – the promotion code was SUNNYBONUS
• for the period ending 12/31/2023 – the promotion code was AXOS300

Axos Bank Basic Business Checking – $400

Axos also offers a Basic Business Checking bonus of $400 if you open a new account with the promotion code NEW400.

The account is a fairly straightforward business account but your business must have been incorporated after 6/1/2020.

You need a minimum $1,000 opening deposit and you need to get the average daily balance of the account up above $50,000 in the first four months after you open the account – this gets you $100 a month. You must also complete 10 point-of-sale transactions using your debit card and have bill pay set up. If your balance is between $25,000 and $49,999.99 then you only get $75 per month.

Bonus will be deposited into your new account each month. Then, keep the account open for 150 days or you face an early closure fee of up to $400.

Learn more about this offer

Axos Bank High Yield Savings – up to $200 [EXPIRED]

Axos Bank will give you up to $200 cash bonus for a High Yield Savings account with the promotion code NEW200.

The bonus is based on your average daily balance in the 6 month period after opening the account:

• If you maintain an average daily balance between $10,000 to $24,999.99 – you get $25 every single month up to a maximum of 4 times ($100)
• If you maintain an average daily balance over $25,000 – you get $50 every single month up to a maximum of 4 times ($200)

The only other thing to remember is that the account must remain open for 180 days or there is an early closure fee of $100 or $200, depending on which bonus you qualified for.

If you have an existing Axos Bank or Axos Bank for Nationwide Savings account as of 3/31/22, you can’t get this bonus. Be sure to check the terms and conditions on this offer for any other restrictions that might affect your eligibility.

Get up to $200 from Axos Bank

(Offer expires 4/30/2022)

How Does This Offer Compare?

The Business Checking account offer is an OK offer because the amount is average – a lot of offers clock in at around $200 or $300 for a new account. The advantage is that if you can meet all the requirements for a higher interest rate, you get the minor benefit of that. Arguably, the hoops are a bit much to jump through though.

Here are a few of our favorite bonuses available right now: