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Axos Bank Review

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Reviews 46

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Bestmoney Staff
Bestmoney Staff
Jul. 15, 20214 min read

Axos summary

Axos Bank is a digital bank that offers a range of consumer finance products and services including mortgages. Unlike most other banks, Axos has only ever operated online. By eliminating the high cost of physical bank branches, it is able to reduce overheads and pass on savings to home buyers through lower rates and fees.

Pros

  • Diverse range of loan options
  • Special rates for Costco members
  • Highly rated customer support

Cons

  • No physical branches
  • No rates without registration

Axos Bank at a Glance

Loan types

Purchase, Refinance, Home Equity

Featured Loans

Conventional, Jumbo, FHA, VA, HEL/HELOC

Repayment terms

10-30 years

Best for

Saving on closing fees, especially if you’re a Costco member

Axos Axos Get Rates

Overview

Axos Bank started out as an online bank in 2000 and has developed a reputation as a top online mortgage lender. It offers an impressive range of mortgage products, from the types of conventional and government-backed loans offered by most lenders to niche products like non-conforming loans and special loans for Costco members. Because Axos is a completely online bank with no physical branches, it is able to offer lower closing fees than most other lenders.

Best For?

Axos Bank is a good option for anyone looking to borrow from an online mortgage lender, but it is a particularly great choice for the 90 million-plus Americans with Costco membership. That’s because Axos offers a special mortgage program for Costco members, with exclusive discounts for existing cardholders, as well as borrowers who subscribe to Costco during the mortgage application process.

Types of Loans/Products

As mentioned, Axos offers a wider range of mortgage loans than most other banks. These include conventional loans, government-backed home loans, home equity loans, and a unique mortgage program for Costco members.

  • Portfolio and non-conforming loans: Customized mortgages for complex financial needs, such as non-owner-occupied properties and lower down payments.

  • FHA loans: Government-backed loans for people with sufficient credit and down payment. 

  • VA loans: Government-backed loans for active and former service people and spouses who meet certain conditions, with zero down payment.

  • Home Equity loans and home equity lines of credit: HELs and HELOCs let homeowners borrow against their equity.

  • Interest-only mortgages: Includes introductory period in which  the borrower pays interest but no principal in return for lower monthly payments.

  • Loans for investment properties with 5 or more units: Includes financing for mixed-use properties, student housing, retail, office, industrial, and mobile properties.

  • Mortgage program for Costco members: Special rates and fees for new and existing Costco members.

The Application Process

The application process takes place online with telephone assistance from a dedicated mortgage consultant. To request a quote online, just fill out a few details including your name, contact details, estimated credit score, loan amount, and down payment. Axos also offers a special feature which lets users request a daily, weekly, or monthly rates update to their inbox, with no obligations.

If you’re satisfied with the rate given, you may go ahead and apply for a mortgage. Axos has similar requirements to most other mortgage lenders.

  • Borrower must be a US citizen or resident.

  • Borrower must be 18 years or older.

  • Costco membership only required if applying for mortgage program for Costco members

Pros and Cons

Aside from the almost entirely digital application process, the main advantage of Axos Bank’s service is its wide range of mortgage products and low closing costs. Axos Bank really does appear to beat most of its competitors on closing costs, and doubly so for Costco members. Anyone can take advantage of the Costco discount.

Rates and Fees—The Bare Basics 

Unlike some other banks, Axos doesn’t display rates unless the user enters their contact details. With that said, once the user registers, they get access to a completely transparent quote for different mortgage products, including a full breakdown of closing fees and monthly payments. 

Repayment Terms

Borrowers may select from the following loan terms: 10 years, 15 years, 20 years, or 30 years. 

Help & Support

Judging by independent customer reviews, most customers walk away very satisfied with Axos Bank’s hands-on service. Each applicant is appointed a dedicated mortgage consultant who stays with them through to closing. Applicants may call Axos Bank directly or speak to an agent over live chat during business hours. If you request a quote online, an Axos agent will call you to provide additional information.

Summary

It’s fair to say Axos offers competitive rates and fees on mortgage products, especially for Costco members. The other thing that stands out for us is the transparency, which makes sense given that Axos wants to show off those low rates and fees. When you request a quote, you get a full breakdown of estimated closing costs and payments, and the sheer amount of detail is something you don’t tend to see with most lenders. Overall, Axos Bank offers a solid option if you’re looking to apply for a mortgage online and potentially find a great rate.

Axos F.A.Q.

Q: When was Axos founded?

A: Axos launched on July 4, 2000 (it chose this date on purpose), under the name Bank of Internet USA. 

Q: Does Axos have physical branches?

A: No. Axos Bank has only ever operated online, making it one of the first banks to open exclusively as a digital operation.

Q: How trustworthy is Axos Bank?

A: Axos is a FDIC-insured bank and a certified equal housing lender.

A: Do you have to be a Costco member to get an Axos loan?

No, but it pays to take out Costco membership because Axos rewards Costco users with lower rates and fees.

Physical Address

Axos Bank

4350 La Jolla Village Drive, Suite 140

San Diego, CA 92122

Axos Axos Get Rates

Bestmoney Staff
Written byBestmoney Staff

Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.

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  • author
    p r
    Jan 01, 1970
    Too bad I can't give them -5 stars

    Too bad I can't give them -5 stars. So bad from start to finish. Well, I am trying to close my account but they are no help. They were never any help. So useless. Keep your money under your mattress before you keep any money with Axos.

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  • author
    Karan
    3 days ago
    I had very bad experience and hence…

    I had very bad experience and hence decided to close the account within two weeks. But even for closing the account, the bank is causing lot of troubles and nuisance and it is very annoying. Even any small bank, when asked to cancel the account, they just cancel and send any future interests as a check to the mailing address. But, here the my account has zero balance and it accrued few dollars interest and which has not been yet credited ( as the month is not over), but the customer support representative asked to transfer that to other account. I think she is a moron and asking me to transfer that to another account. How come one can transfer a future interest now? Hey Axos(UFB direct) bank, why are you always annoying customers, even when we want to get out of you? Very pathetic and worst bank and customer relations. Update[09/27/2022]:- Still proving how cheap and literally zero customer care. They said, they are going to charge $10 to send a cheque of $5 (interest accrued) to close my account. Very Very pathetic and cheap. I have opened many banks, no banks in my experience asked for any charge, even they need to send a cheque for few cents. I already said them, I don't need any interest and keep that to improve your customer support (at least provide good customer support to other customers).

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  • author
    allenb
    Sep 22, 2022
    Think twice before opening an account. Read the other reviews.

    Think twice before opening an account with Axos Bank. I attempted to transfer money from Axos to an account at another bank. That account was closed, so that bank returned my funds to Axos, who in turn suspended access to my account due to suspected fraudulent activity. They required me to either provide a voided check from another bank or a photo of me holding my driver's license. I informed them that both methods are prone to fraud and I had already answered their account verification questions, so I would not be submitting either form of verification. I informed them I wanted to close my account and to return my funds. I was told they would forward my request to another department. After 24 hours I received an email from Axos stating that they are terminating our relationship and not to contact them again. However, there was one problem, as there was no mention in their email regarding when I would receive the funds they were holding. If this is the type of business relationship that you want with a banking institution, then good luck. I would advise against it.

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  • author
    CN
    Sep 19, 2022
    DO NOT USE THIS BANK

    DO NOT USE THIS BANK. I would leave zero stars if possible. This bank has antiquated technology and does not follow cybersecurity best practices. I have to download, sign, and re-upload a paper form to send an outgoing wire transfer. This goes into a black hole of the "secure message center," which means zero communication back from them to confirm the wire has been processed. It's also not possible to see what messages/files I submitted, so no ability to verify anything went through. Calling customer service means a 20+ minute call only to be told the form wasn't done correctly!

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  • author
    Josh Mcmichael
    Sep 17, 2022
    If I could leave negative Stars I…

    If I could leave negative Stars I would!! Axos bank is absolutely horrible and pathetic and they actually get enjoyment out of harming their customers! I notified them immediately once I saw a fraudulent transfer and they have taken almost 3 weeks to tell me that no error has occurred and the whole time has left me locked out of my account with no access to any of my money whatsoever! When I said I want to appeal their decision on my fraud claim they told me sorry there's nothing more they can do.. what do you mean I can't appeal your decision?? I have asked repeatedly over three times to speak with the supervisor or manager and each time I'm told that nobody is available and that they will have somebody call me back within a day or two at most and not once have I received a call from a supervisor or manager!!! This Bank is just as bad as the criminals stealing day to day because when you side with criminals and you don't want to take care of your clients and customers and refund them the money YOU LET get stolen..you are a thief just the same because you were the one that said you would protect my money but if anything you let other people take it and then you try to act like there is nothing wrong quoting "no error has occurred". I will be filing police reports against the bank itself and also to try and protect my identity in the future since axos bank does not protect any of their clients and customers whatsoever!!! DO NOT TRUST AXOS BANK WITH EVEN A PENNY OF YOUR MONEY!!! YOU HAVE BEEN WARNED!!! SHAME ON YOU AXOS, SHAME ON YOU!!!

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  • author
    Suzanne Yates
    Sep 15, 2022
    Axos Bank = Terrible service

    I will never do business with this company again. I will be so happy when I have my loan paid off. The service sucks. It feels almost impossible to access money from my savings account from them. Limits on how much I can withdraw? Really? Where did I sign up for that? How dare you! Is this legal? So then I request a wire transfer. The money is not there yet. They send a message on my Axos phone app message Box Which says I incorrect routing number. Why not call me or send me an email? And… my routing number is correct! I am beginning to feel like it was a big mistake to trust Axos with my savings. The service has been terrible since the beginning of my relationship with them all the way around.

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  • author
    Karan
    Sep 14, 2022
    Worst customer support

    Worst customer support. They have no idea of their own products. Not even the difference between interest and APY rates. All the emails are responded by someone in India the next day or few days later and very often you won’t get any response for your emails. You need to write back and forth to get the response. Very very annoying. You need to wait on average around 15 mins on normal day to talk to an agent. If you ask for supervisor, she will just want tocut the call and asked me to call again (seriously!!! Who wants to wait another 15 - 20 mins to wait for someone to talk and waste another 10 - 20 mins to explain the context) Poor support and worst experience. I had very annoying and worst customer experience with a customer named Victoria. I have to say everything twice or thrice to her. The system asks to enter the dob, ssn and zip code, but I have to say that again to the agent. Ridiculous!!! What a wonderful, time saving system it is!!!! Response to Axos(UFB direct) customer support:- I have already asked to close the account. I have some incoming pending funds, once that is settled and I have moved that out of UFB (irrespective of 2.61% APY. To me smooth hassle less transactions (as these banks don't have any physical locations, all online services should be smooth enough) are more important than whooping high interest rate. Same thing with other bank like Varo (worst customer experience)). Improve your app also, very very slow loading time (especially login experience) and sometimes inconsistent data rendering. I want to close out the account and get out of Axos(UFB direct) family ASAP.

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  • author
    jiang fangduo
    Sep 13, 2022
    he worst bank in the world

    he worst bank in the world, they will lure you to open their account and when you submit the information and documents, they will say that the back office prompts that they cannot open the account. They just collect your personal information. I just brought this issue to the CFPB's attention, and now axos is retaliating against me by not opening an account, even though the personal information and documents I provided were complete and correct!

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  • author
    Roy Eastham
    Sep 02, 2022
    If zero could be done I would…bank has…

    If zero could be done I would…bank has said repeatedly not receiving request for direct deposit when Social Security tells me that my deposit has occurred! Why would a bank take off with SSDI when they have billions in assets?

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  • author
    jiang fangduo
    Sep 02, 2022
    axos is the worst bank

    he worst bank in the world, they will lure you to open their account and when you submit the information and documents, they will say that the back office prompts that they cannot open the account. They just collect your personal information. I just brought this issue to the CFPB's attention, and now axos is retaliating against me by not opening an account, even though the personal information and documents I provided were complete and correct!

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  • author
    Harry
    Aug 31, 2022
    Toxic banking at its best

    By far the worst bank experience I have ever had in over 30 years in banking. Complete and utter fraud comes to mind. Customer service is less than zero. Axos Bank's business model is to get your money and make it as hard as possible to get it back. Business account is downright toxic. Force a change of password 4x per year and over 6 security questions to simply wire a client.

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  • author
    Steven Wilson
    Aug 27, 2022
    Will file FTC complaint against Axos

    I was hoodwinked into opening a business checking account, due to the $200 welcome offer. Thank goodness I didn’t deposit the full $2500 required as an average daily balance to receive those funds. Because now, after the approval of an application process that took 2 weeks (and the collection of a LOT of sensitive personal and financial information), I find that that there is NO way to withdraw the funds I did deposit. Okay, did you catch that? The online platform has ZERO options to make transactions of any kind, either incoming or outgoing. The mobile app has ONLY deposit options. I was never given any option to receive a debit card. And when I linked the bank to Cash app in order to access the funds, the outgoing payment is “declined by bank.” I called two service phone numbers, and was cut off FOUR times. Let’s backtrack: it’s an ONLINE bank with absolutely NO WAY to conduct transactions ONLINE. This “bank” is a complete fraud. It’s FDIC insured? That’s horrifying. I will be filing a complaint with the FTC, BBB, and any other government consumer protection agency I can possibly find.

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  • author
    jiang fangduo
    Aug 24, 2022
    The most garbage bank

    The worst bank in the world, they will lure you to open their account and when you submit the information and documents, they will say that the back office prompts that they cannot open the account. They just collect your personal information. I just brought this issue to the CFPB's attention, and now axos is retaliating against me by not opening an account, even though the personal information and documents I provided were complete and correct!

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  • author
    PRABAWA/SUSILOWATI
    Aug 04, 2022
    The worst bank in the world

    The worst bank in the world, the site is always broken, the customer service are very lazy, give wrong information illogical answer. Christian Vazquez is a LIAR, he said the 2500 bucks will arrive noon today , August 4, but never arrived at discover bank. Christina from axos clearing is extremely stupid , she told me to transfer out from my recipient discover bank, which is illogical. Very bad site, very unprofessional staff, stay away from this bank. I cried and beg for a week just asking axos to transfer 2500 back to my discover bank. Axos bank needs to be CLOSED forever

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  • author
    Csmith
    Jul 10, 2022
    My mother set up a new checking account…

    My mother set up a new checking account with Axos with a monthly check that she receives. She was able to set up the account online and make a 2,700.00 mobile check deposit to fund the account. Everything seemed fine she said until she was sent an email a few days later demanding additional ID verification, and documents proving her address. Astounded, because she had already been "approved" for the account and made the mobile deposit already, she still send the required ID verification to them. She sent the "selfie holding ID" and a bill with her name and address on it through her online banking account messaging as requested. They acknowledged receipt of the verification documents, then "crickets". Her account has been locked/restricted for over a month with the money from the check sitting in the account, and she still cannot access the funds (also her debit card is "suspended"). Then, just a week ago she received an email to physically mail the check she mobile deposited to the branch because they "cannot process the check manually". This is the very reason she was trying to set up a new back account, to be able to do a mobile check deposit if she needed to. I don't know what the problem is, it feels like she is being treated like a criminal for some reason. The end result is that my mother has been financially strapped due to the holding of her own money by this bank. I don't know what this banks issue is but be warned if you cannot access the branch physically then you may be in for the same situation. Normally the very same checks process right through her other bank, so I guess we will stick with that account going forward. Very disappointing and unnerving, especially for an elderly woman to have to go through. She called the issuer of the check and it has been paid out, so essentially they have the money but will not let her have access to it, very sad.

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  • author
    RussellUpsomgrubb
    Jul 06, 2022
    They tell you that they pay a balance…

    They tell you that they pay a balance of 0.61% on savings. However when you read the fine print, they only pay 0.61 per cent on balances is up to $24,999. Once you go over that amount, your interest rate reverts to 0.25% on your entire balance. As the Fed raises rates other banks are already up to anywhere from 1% to 1.58%. There are much better places to stash your cash. Usually banks take the cash from depositors and invest it in mortgages, stocks, bonds, etc., anything stable that provides a higher return than they pay out. Well, if they are only going to pay 0.61% on balances up to $24,999 and then if you go over that amount the interest rate reverts to 0.25% on your entire balance, what's the point of putting more than $24,999 in a savings account? What a stupid business decision on their part since 0.61% is quite low right now.

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  • author
    Jonathan Briggs
    Jun 03, 2022
    real real trash no other words

    real real trash no other words

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  • author
    Doug Ludemann
    Aug 15, 2022
    Could not get through the application…

    Could not get through the application process before system errors induced a customer service request. Their service is obtuse and unhelpful. They have failed to earn my business. Edit: you condescending asses. "I" didn't "have trouble", your system experienced errors. In other words, "you" "had trouble" providing me minimal services. Good luck with that.

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  • author
    Stacey Jennings
    May 01, 2022
    $14,000 MISSING

    They took the money put my fathers account who had written checks to me - they then said the mobile deposit wasn’t accepted and to mail in physical checks … I did and then I got a message they were closing my account. No ability to speak to anyone. They kept saying “we can chose to end the banking relationship at any time” - they mailed the checks back to me but still have not credited it back to my fathers account. $14,000!!!!!! All they told me when I asked about it was “your money is safe”. 5 months later still no $14,000 Run as fast as you can from these clowns

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  • author
    Alexander Red
    Apr 22, 2022
    Terrible Customer Service

    Worst customer service ever! I will be changing banks ASAP. What other bank takes 5-7 business days to process a deposited check that is from another bank, one of the largest in the world? Mobile deposit takes longer? Okay, great, that's the only option to deposit a check. After going back and forth for a week via email I'm finally told I can request early release of funds and it can be processed within 24 hours. Why didn't anyone bother to tell me this when it would have made a difference? And no other bank ever has flat out refused to honor the name I actually use (which is part of my legal name) and put it on my debit card.

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  • author
    Stewart King
    Apr 21, 2022
    Terrible online bank

    Terrible online bank. Blocked my debit card without notifying me, every request or transaction requires you to submit a ‘secure message’ which takes days to be responded to, absolutely zero personal touch. Left listening to hold music for well over an hour. Will be closing out my account asap.

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  • author
    Nadav Boaz
    Mar 18, 2022
    Awful customer support.

    Awful customer support. They won't accept my US passport as identification.

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  • author
    Nicole K
    Feb 12, 2022
    High yeild savings

    Look. It's a mobile bank with no place to talk to bankers in person. It's a little annoying to not be able to deposit cash but that rarely ever happens to me. I've been with Axos for a little under a year with zero problems. All my information is processed correctly with easy-to-navigate online platforms. Also, their high yield savings is the reason I have an account with them.

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  • author
    M. Weeks
    Jan 25, 2022
    You used to be great

    You used to be great, everything went downhill after Axos Invest and Axos Bank combined(Feb. 2021) For about a year I tried to get an issue resolved with my brokerage account, transactions wouldnt complete, I still have pending transactions from a year ago, although my brokerage account is closed. I was advised to closed the account so I could open a new one. After closing the account, which it seems i can still make changes too...yeah doesnt make sense...I am now unable to open a new brokerage account I previously wrote a great review about how much I like banking with Axos Bank and Axos Invest as separate entities back in 2019, but I can't say that in the least. As many have mentioned customer service was abysmal as the misinformation received was concerning regarding my accounts. I thought I'd finally found a bank/brokerage that would suite all my needs, but this past year dealing with them, if someone actually responded was beyond ridiculous. There was one person if i was lucky my ticket got assigned too was Melissa. How is tech support still trying to resolve an issue over a year ago w/ the brokerage accounts is beyond me, but as of this writing 1/25/2022 12:59pm Eastern...I am still unable to open a new brokerage account. They apparently also dont seem to have a way to setup all new credentials.

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  • author
    Jordan V
    Jan 10, 2022
    Horrible bank

    Horrible bank, tried to use for business banking. They couldn't even send me statements for tax filing. Don't risk your time with these boneheads!

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  • author
    Jen Catz
    Jan 04, 2022
    Bait and switch

    Bait and switch. I immediately asked for my direct deposit to be sent here to make to 60 day bonus offer. My first deposit will be 3 days after the 60 day limit. I now scheduled some funds for the axos account so it isn't closed before the first direct deposit. But you can bet I will be spending new years days looking for a new bank.

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  • author
    Kaisia James
    Dec 31, 2021
    Horrible bank

    Horrible bank. Just left a review and it was deleted? Stat away from these money holding thieves. Release my funds and stop giving people reasons to call over and over and over wasting our precious time and not getting resolution. Provided better service and give better answers to why your are withholding our money.

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  • author
    Mike Salley
    Dec 14, 2021
    Mobile Banking at its Worst

    Terrible service. Online mobile deposit is useless. It never works. They hold your funds for days. Trust me. Stay away. You WILL eventually regret doing business with them.

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  • author
    Hans Frederik Brobjerg
    Aug 16, 2021
    Discriminate against people with no SSN/ITIN

    The bank discriminates against people with no SSN/ITIN. I think that should be prohibited by law. It's a nasty kind of discrimination.

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  • author
    Alex Williams
    Jul 05, 2021
    Guess They Forgot That I Applied For A Loan

    We were pre-qualified for a personal loan by this bank (through Lending Tree). Someone called to tell me that they could not process applications with two applicants (myself and my wife) but they could send through the application to their underwriters with my name only. That was almost a month ago and I have heard nothing since. We needed the loan within two weeks and that was what we indicated on the Lending Tree application. Fortunately for us, we didn't need them and I have learned to never ever do business with this bank again. We wound up using our own money for the purchase for which we wanted the loan. Crazy thing is, our credit record is excellent, cars are all paid for, house will be paid for in a few months, we pay all our bills, and income is good. Just hate I wasted my time with, what is in my personal opinion, a sorry excuse for a bank. NEVER AGAIN!!!!!!

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  • author
    kendra wells
    May 15, 2021
    HORRIBLE BANK AND BAD CUSTOMER SERVICE!

    I applied for a unsecured personal loan on 5-15-2021 online and received a missed called from the personal loan department. I called the number back he left on my voicemail and ask him what credit bureau did they do a hard pull from? He told me that they pulled all 3 credit bureaus which couldn’t be correct, because all lenders have a 1 main credit bureau they pull from. He told me that they do a soft pull through Experian and a hard pull from all 3 credit bureaus. I told him that is impossible, because all personal loan companies just have 1 credit bureau they pull from. He started raising his voice being rude, and became very combative. He told me that he never heard of a company pulling 1 credit bureau doing a hard pull, and started yelling in the phone. I told him that I didn’t like his attitude behind me just inquiring about my credit. He hung up the phone in my face, and when I called the number back it kept going to voicemail. Then I tried to log onto my account online, and all of a sudden NOW I AM LOCKED OUT OF MY ONLINE ACCT. He locked me out of my online account, and probably cancelled the loan application! Lol I have never in my life experienced such rude, and condensing employees at a company like this ever before! This is literally insane for a employee to have such horrible customer service, not be educated on giving a customer the correct information regarding their credit, and hanging up in my face in totally unacceptable. At first I didn’t even think this was a legitimate company, because I didn’t find any reviews online up until now. I wouldn’t dare want to do business with a company that treat customers in such a manner. Now I see what all of the reviews are saying are true about the customer service, and all of the issues with the online portal. So when a employee mistreats you, and talk crazy to you they will disable your online account making it difficult for you to log in. My online account was working just fine until THE PERSONAL LOAN DEPT hung up in my face. Now all of a sudden I have no access to my online account and I need to call customer service. STAY AWAY FROM THIS COMPANY AT ALL COST BECAUSE THEY ARE THE WORSE!

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  • author
    Gerald Sykes
    May 12, 2021
    WARNING

    WARNING! DO NOT USE THIS BANK! Service is the worst ever and they will do anything to avoid return your money!!

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  • author
    Doug Schwind
    May 11, 2021
    Terrible bank

    Terrible bank. Don't put real money in. If you want to try, start with small amounts and have a backup bank to rely on when you realize how bad they are. 0 stars

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  • author
    Chris Fointno
    Apr 23, 2021
    Horrible experience

    Horrible experience. When you need their customer service you will be disappointed in their response. I have been the victim of fraud and disputing with them has been a nightmare. I would highly recommend any and everyone stay away from this bank.

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  • author
    Frank Boyer
    Apr 22, 2021
    Worst bank account EVER!!

    Worst bank account EVER!!! They will constantly freeze your debit card for "fraud alerts". Avoid this "bank" like the plague. I personally had my card frozen 3-5 times a week over the last 6 months for simple online purchases (adidas/paypal/etc) and gas station purchases (Just trying to pump gas WT F!). I already pulled all of my money out of Axos and went with my local credit union. It has been a month since the move, and I have not had any problems since with debit card transactions since. If you are OK calling Axos 3-5 times a week to verify your purchases go with them, if not, go somewhere else and do yourself a favor. I am personally not ok calling them multiple times a week to get permission to spend MY MONEY!

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  • author
    Adria D. Robinson
    Mar 29, 2021
    If I could this bank a negative 3,000

    If I could this bank a negative 3,000. I would. I setup an account with the, based on the review fro, Nerdwallet, what was I thinking!!! I pit a deposit in the account to purchase a phone with Apple. My debit card declined the very first time I used it! I called customer service and spoke with 3 different people. The 3rd person said that Apple does not accept their cards, so I made the order with Apple Pay. Later on in the day I went to make another purchase and my card declined again! I call them again and now I’m told my account is restricted. Now I’m pissed. Then he proceeds to tell me that I can’t speak with the dept that restricted the account and they will, contact me. They don’t haves time frame on how long my account will be in review! I asked to speak with a supervisor. They said I can’t talk to one. A supervisor will have to call me in a couple days! Unbelievable! As soon as my money is unrestricted I, going to move my money to another bank and close this account! DO NOT BANK HERE!

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  • author
    James Foster
    Mar 27, 2021
    Ruined a great UI and replaced it with slow clunky ui and rude/slow customer service and transaction times.

    I was a wise banyan user. After it was acquired by axos they ruined the great user interface, cancelled the app, merged it with their online banking which didn’t allow the functionality of the app, and quadrupled their transaction times. Their customer service was rude and annoyed to have to talk to me about what they messed up and took months to transfer, vs the normal 3-5 days.

    ...

  • author
    Christa Speer
    Mar 13, 2021
    If I could give a negative star i would…

    If I could give a negative star i would this is hands down the worst banking experience I've every had and they have cost me several dollars due to there bs and unreasonable and unreliable banking I regret the day I opened a bank account with them

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  • author
    Christopher Beaudoin
    Feb 09, 2021
    Starting off I am partial to online banks.

    Starting off I am partial to online banks and prefer them to brick and mortar. I was originally a customer of Simple Online Bank and while they had great customer service they were limited in what they offered. I found Axos and I very much like the different accounts they offered. I have been with them now for 6 months have been very happy with my experience with them. I will say the only complaint I do have is there check cashing, they tend to hold funds longer compared to other accounts I have had. I have had several friends switch to Axos and they all have been very happy.

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  • author
    Mike Gray
    Nov 05, 2020
    Extremely difficult to work with

    Extremely difficult to work with. They claim to be an "online bank" but everything requires you to call in, so I think that makes them a "phone-in bank". The person who helped when I called in was condescending and seemed to be actively trying to make my situation more difficult. Closed account, went to a real bank.

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  • author
    alexia smith
    Nov 02, 2020
    horrible…

    do not use this bank they are horrible people, will hold onto your funds without warning, and close your account when they feel like it with no explanation.

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  • author
    Krista Wright
    Aug 18, 2020
    If you like having access to your money stay away!

    Ok, first of all, I'd have to say that there is one shining gem in this company, the man who helped me sign up, Mr. McKenzie. He's awesome. However, ever since I got this bank account 8 months ago, I have NEVER been able to actually access it or use it without an issue! The debit card gets denied ALL THE TIME - Amazon, the CRM software I use, my business cell - denied, denied denied. Heaven forbid you travel internationally for work, you'll immediately get a Gladiator flag and get locked out of your account. Even when I warn them in advance - no dice. Think you can use a VPN? Think again! The site will say that it doesn't recognize the login and ask to CALL you - not even text! If you can't access your US phone, you're sh!t out of luck. Bottom line, if you plan to ever use the debit card or travel internationally for work, this bank is not for you.

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  • author
    Nate
    Jul 09, 2020
    Last close to 4000 with this bank they…

    Last close to 4000 with this bank they rip me off horrible customer service very rude and uncooperative irresponsible they don’t see you as a human being but only as a $and I don’t care about you very rude. Zero customer service

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  • author
    Gary
    Jul 02, 2020
    BEWARE OF UFB DIRECT OF AXOS BANK!

    BEWARE OF UFB DIRECT (Online version of AXOS BANK)! If I could rate them with a negative 5 I would do it but one star will have to do. On 05/27 I opened a money market account because the bank touted the best money market rate in the country. Before making a deposit, I called a banker about the history of maintaining rates. She stated rate changes were infrequent so I decided to move ahead and wired my money. During June the money market rate dropped twice to nearly half the original rate, no longer competitive. On 06/29 I decided to move my money. I spent time researching before the transfer and learned the policy regarding the bank and lowering the amount in the account. “According to UFB Direct's Premium Money Market page, there is a $10 monthly maintenance fee if the daily average balance drops below $5k.” So this means that if my balance fell below $5k, they would charge me $10, that’s it. I called the bank to see if the rate could be improved considering my large deposit, Angela a customer service rep said she could do nothing about it. That made my decision for me so I planned to transfer my money to another bank with a higher interest rate. I asked for options to transfer my money. Angela transferred me to Derek from the wiring dept who said wiring was the best way. Neither Angela nor Derek mentioned moving my money before month end would affect my interest. It was the 29th, 2 days before the end of the month. I had a sizeable account and the interest accrued for the first 29 days was over $500. Using the online policy reference I had researched (i.e. the worst that could happen is they would deduct $10 from my account for going below the $5k minimum). I submitted the wire request. I got a call later in the morning of 6/29 from a male rep asking why I was moving my money, I explained the rate issue. He then approved the wire again with no mention about timing and how it might affect the interest accrued. On 07/01/20 I woke up to see if the interest was deposited but the accrued interest was zeroed out. I called the bank spoke with Mike who talked with his supervisor, who then told me it was a computer error that the interest would be added in 1 to 2 hours. After two hours, nothing got deposited so I got online with the bank and started a chat session with John C. who after speaking with his supervisor now said since I transferred out my money, the interest was defaulted, the exact opposite from Mike just two hours earlier. Also I had researched prior that there was only a fee for going below $5k. I did not close my account which is still open today. Obviously I would have left the money in my account for 2 days longer had anyone told me it needed to stay until month end (which was not mentioned in the policy I already mentioned). Before stopping my chat session, I asked John C. to have someone in management contact me. It has been two days and still no one has followed up. Bottom line, the bank representatives were unethical, misrepresenting bank policy. Not one of the many people I consulted with before the wire transfer provided any information about a need to keep the money in for the full month. I have business with many banks and I don't know of another bank that won't pay you interest due proportionately when you transfer the money to another bank. It is obvious they were manipulating the situation to avoid paying my interest. I have a very large network of business professionals and business owners in the U.S. whom represent more than 3 million businesses that I will be sharing this experience with. I will recommend that none of them bank with Axos or any of their divisions such as ufb Direct and to move their accounts if they are banking with Axos. A deceptive and completely unethical practice. I will pursue this until they return the earned interest. I have also submitted complaints to both the BBB better business bureau complaint and to the Consumer Finance Protection Bureau. No one has yet to contact me from the bank. PUT YOUR MONEY WITH ANOTHER BANK THAT IS TRUSTWORTHY, NOT AXOS BANK!

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  • author
    JR
    Jun 24, 2019
    I signed up about a week and a half…

    I signed up about a week and a half ago. I had to take a photo of myself and my driver's license. It was a bit much but security is good, right? Today Axos closed my account. Why? Simply because I tried to add my new debit card to Google Pay. I understand this is their policy (which, of course I breezed through because I thought it was like every other bank I have had including USAA). But I feel it is a ridiculous policy. I was looking forward to banking with Axos but now I feel like a criminal. I feel that when it comes to security I should have choices on what and how much. I should have known it was going to go south when I couldn't activate my debit card online. I have never been treated like this before. I wouldn't recommend this bank to anyone I know.

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  • author
    shawn s
    Apr 11, 2019
    unacceptable experience

    unacceptable experience, took over three weeks for them to ask for all of the nessesary information all for them to tell me no.. with no real reason as to why... i have several people i work with who uses this bank in the same business... no communication for the bank..... pls dont wasre your time.

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