Axos Basic Business Checking review

Axos Basic Business Checking is a no-fee account held directly at Axos Bank, which matters to owners who prefer a chartered bank over a fintech app with partner banks. There is no monthly maintenance fee, no initial deposit and no minimum balance, and transactions are unlimited without transaction fees. Axos reimburses domestic ATM fees without a cap, which beats Novo's $7 monthly limit, and incoming domestic and international wires are free, with two domestic outgoing wires reimbursed each month. Standard FDIC coverage is $250K, and Axos says coverage can reach $265MM through IntraFi Insured Cash Sweep. The account works with QuickBooks and the Axos mobile app. A $200 welcome bonus is offered with a promo code through January 31, 2027 if you keep a $3,000 average daily balance. The trade-off is fewer built-in tools: there is no interest on Basic checking, and invoicing and expense features are thinner than on Mercury, Relay or Bluevine.

Who it is for

Business owners who want a no-fee account from a chartered online bank rather than a fintech.

Price

Free: no monthly maintenance fee and no minimum balance.

A Business Checking account that works for you. No monthly maintenance fees
Quoted from the vendor pricing page on November 12, 2026.

Key features

• No monthly maintenance fee, initial deposit or minimum balance
• Unlimited transactions without transaction fees
• Unlimited domestic ATM fee reimbursements
• Free domestic and international incoming wires, plus two reimbursed domestic outgoing wires a month
• FDIC coverage up to $250K, expandable to $265MM through IntraFi Insured Cash Sweep

Strengths and weaknesses

• Strength: Accounts are held directly at Axos Bank, a chartered bank
• Strength: Unlimited domestic ATM fee reimbursement
• Strength: Two outgoing domestic wires reimbursed each month
• Weakness: Basic Business Checking does not pay interest; Business Interest Checking does
• Weakness: No branch network for cash deposits
• Weakness: Fewer built-in invoicing and expense tools than fintech platforms

Key facts

• Monthly fee: $0
• Opening deposit: None required
• FDIC coverage: $250K, up to $265MM via IntraFi sweep

Where it ranks

Axos Basic Business Checking is No. 7 in our Best Business Bank Accounts verdict.