Here's how to obtain a bonus of up to $500 when opening a new Rewards Checking Account with Axos Bank.
If you're interested in the Axos Bank® Rewards Checking Account, now is the perfect time to sign up. From now until July 31, Axos is offering an increased cash bonus of up to $500 (previously $300) and up to 3.30% APY when you open a new account and use promo code RC500, as long as you meet certain conditions.
How to qualify for a $500 cash bonus
Until July 31, 2024, Axos Bank is providing new Axos Rewards Checking account holders the chance to earn a $500 bonus cash. This offer is one of the best we've seen for a checking account, and it's even more appealing when you consider the potential 3.30% APY this account can earn. Unlike most checking accounts, this one offers both a sign-up bonus and rewards.
In order to receive the $500 welcome bonus, you must perform the following steps.
- Use promo code RC500 when opening the account by July 31.
- Beginning 30 days after your account is created, you will receive qualifying direct deposits of at least $1,500 per month.
- Maintain an average daily balance of at least $3,000 each month
If you fulfill the criteria each month, you will receive a $100 payment that will be added to your checking account within 15 business days after the end of the statement cycle. Over the course of six statement cycles, you can earn a maximum of five $100 payouts. To qualify for the bonus, you must fulfill these requirements during the first six months after opening the account.
How to qualify for the Rewards Checking Account's highest APY
To earn the highest APY offer of 3.30% on the account, you must meet certain requirements. These include receiving qualifying direct deposits of $1,500 or more each month.
- Signing up for Personal Finance Manager (PFM) "Account Aggregation" and making 10 debit card transactions per month with a minimum of $3 per transaction will result in an additional 0.30% APY.
- Earning an additional 0.99% APY requires maintaining an average daily balance of $2,500 per month in an Axos Invest Managed Portfolios account.
- To earn an additional 0.99% APY, maintain an average daily balance of $2,500 per month in an Axos Invest Self-Directed Trading account.
- Earning an additional 0.60% APY on your monthly loan payment using your Rewards Checking account = adding a mortgage, personal, or auto loan payment.
Other checking account bonuses
If Axos Bank's Rewards Checking Account bonus doesn't suit your needs, there are numerous other options available.
The Chase Total Checking® currently offers a bonus of up to $300 until July 24, 2024. To receive this bonus, you must be a new Chase checking customer, open a Total Checking account, and make direct deposits totaling $500 or more within 90 days of coupon enrollment.
SoFi Checking and Savings offers a $300 welcome bonus when you direct deposit $5,000 or more within 25 days of your first direct deposit, or a $50 welcome bonus with a direct deposit between $1,000 and $4,999.99 within the same timeframe. Direct deposit also earns you 4.60% APY on savings and Vaults balances, along with 0.50% APY on checking balances. Without direct deposit, you'd still earn 1.20% APY on savings and Vault balances and 0.50% APY on checking balances.
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