Axos Bank $300 Checking Account Bonus

Axos Bank is offering up to a $300 bonus for opening a Rewards Checking account and completing qualifying activities. Full details about this $300 checking bonus below!

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, U.S. Bank, and Axos Bank.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Axos Bank $300 Checking Account Offer

Axos is offering a $300 welcome bonus and up to a 3.30% APY (rate as of 12/14/23) for opening the Axos Rewards Checking account:

How To Earn The $300 Bonus

  1. Open a new Axos Rewards Checking account with this link.
  2. Apply the promo code AXOS300 during account sign-up.
  3. Make one or more direct deposits totaling $5,000 each calendar month during the first seven (7) calendar months your account is open.
  4. Maintain a minimum average daily balance of $7,000 in your Rewards Checking account.
  5. Receive a $300 welcome bonus deposited into your checking account within 5 business days of your third statement cycle date.
Axos $300 checking account bonus
(Image from Axos Bank)

Who Qualifies For The $300 Bonus

Everyone is eligible for one new account-related bonus per calendar year from Axos. In layman terms, that means you’ll qualify for the bonus if you didn’t get one this year yet. Here are a couple of scenarios for example:

  • You received your last Axos new account bonus on December 31 of the prior year = you’re eligible for this promotion.
  • You received your last Axos new account bonus on April 15 of this year = you’re NOT eligible for this promotion

Offer Details

Availability: Nationwide
Expiration: 6/30/2024
Household Limit: None
Direct Deposit Required: Yes, $5,000/month (see what counts as a direct deposit)
Soft/Hard Pull: Soft
Early Account Termination Fee: Must keep the account open for 210 days or an early closure fee of up to $300 may apply (equal to the amount of the total bonus earned up to $300)

Avoiding Fees

Axos is a customer-friendly bank so they don’t charge any fees other banks typically do.

  • Zero monthly maintenance fees
  • Zero overdraft or non-sufficient funds fees
  • Zero minimum balance requirements
  • Unlimited domestic ATM fee reimbursements

They do charge up to a $300 early account termination fee if you close the account within the first 210 days, so leave your account open past that time period.

Axos Offer Terms & Conditions

  • A Rewards Checking application that includes the promotional code “AXOS300” must be submitted before 11:59PM EST of the offer expiration date.
  • To earn up to a $300 bonus, you must be approved for your new Axos Bank Rewards Checking account, fund it within 30 days of account opening, and have qualifying direct deposits that total at least $5,000.00 each calendar month during the first seven (7) calendar months your account is open as well as maintain a minimum average daily balance of $7,000.
  • You must have these direct deposit amounts from a third-party source (not from another Axos Bank brand account) to receive bonus credit.
  • A maximum of six (6) payouts of $50 for each calendar month that the Rewards Checking account is receiving the direct deposit and maintain a minimum average daily balance of $7,000 can be earned during the seven (7) statement cycles.
  • Bonus will be deposited into your Axos Bank Rewards Checking account within 10 business days following the end of the statement cycle in which the direct deposit requirement was met.
  • Account must remain open for 210 days or an early closure fee of up to $300 may apply (equal to the amount of the total bonus earned up to $300).
  • Bonus may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor.

Axos Rewards Checking Interest Rate

The Rewards Checking account offers a unique monthly interest rate that’s based on the products or services you use during the month.

Monthly ActivityAPY
Direct Deposits: $1,500 or more0.40%
Debit Card Spending: 10 transactions (min $3 per transaction)0.30%
Managed Portfolio: Maintain average daily balance of $2,5001.00%
Self Directed Trading: Maintain average daily balance of $2,500 1.00%
Loan Payment: Use Rewards Checking to pay an Axos consumer loan0.60%

Your balance of up to $50,000 will earn interest based on the combined rate.

The Bottom Line

The offer was previously a $100 bonus for making direct deposits totaling $1,500 in a single month. It now requires seven months of making direct deposits of at least $5,000 per month and maintaining a balance of at least $7,000; but the bonus is three times as big.

While this may prohibit many that don’t have direct deposits in that amount (the requirement extrapolates to someone who makes at least $60,000 a year), I think it’s worth it if you’re able to.

Axos doesn’t have many bank fees people have to typically deal with and the interest rate is competitive enough with monthly activities (and it’s compounded daily vs monthly).

While website design is not that high in the priority list for me when looking into these new customer sign-up promotions, I have to give kudos to Axos for making a really modern site. It’s heads and shoulders above designs at national banks.

Overall, good offer, but for those who can’t swing the direct deposits, there are other bank bonuses with much lower requirements, like this Chase Bank checking bonus or this Plynk investing bonus.

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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1 year ago

I see that this $100 offer goes until March 2023. This can be stacked by using Swagbucks too. They are currently offering a $150 bonus too (not sure how long this will last though). Be sure to open the link below in a browser with the SB Button and click to activate that too. Hope this helps.

Turn this $100 into a possible $300 bonus(YMMV). If you have a Swagbucks account (if not sign up) go to a browser with the SwagButton installed. Turn off all Ad Blockers. Go to this for a possible $50 referral. Choose Rewards Checking and apply. When the 15000 SwagBucks offer pops up be sure to Activate. That’s for a possible $150 in Swagbucks. Be sure to follow ALL requirements as each offer has different steps to qualify. Hope you Score Big on this simple offer from AXOS!

Ben S
Ben S
1 year ago

Question about the Axos $300… it says “in a single calendar month”. Does that mean if I do $7000 in the first month, and then $0 for the next 2 months, I would get the promo? Or do I need to do the full $7000 for all 3 months?

2 years ago

What have you used for DD? Nothing on the list

Brian Gonani
Brian Gonani
2 years ago

One last thing may be people can also combine this with the Swagbucks deal “Axos Bank gives you all of the features of online banking with none of the fees. Open a bank account and deposit $20 or more to earn 4,000 SB*!”

Brian Gonani
Brian Gonani
2 years ago

Bugs in Verification it won’t recognize my ID and won’t let me add my expiration manually. Will try again tomorrow

Brian Gonani
Brian Gonani
2 years ago
Reply to  John Pham

Oh! this is what happened. I almost gave up due to verification issues. But there’s a number at the top of the application 8885022967. I called them and I was able to complete the application on the phone.

And Wow! It’s crazy am always shocked you reply lol. It’s very odd to have a reply from one of your heros. And it’s very nice to know you value my feedback, I come here everyday I’ve done like 100 of your links but it just occurred to me that you and others may find my feedback informative. I will be posting my feedback whenever I use your links in the future such as the experience I had if it worked or not and when I get the bonus. Thanks