Axos Bank RC500: A Comprehensive Guide to Rewards and Features

The Axos Bank RC500 is a high-yield savings account that offers a competitive interest rate and a range of features to help you manage your finances.

With a 2.20% APY, the RC500 is one of the top-paying savings accounts on the market.

You can earn interest on your balance as soon as you make a deposit, and there are no minimum balance requirements to open or maintain the account.

The RC500 also offers mobile banking, allowing you to check your balance, transfer funds, and pay bills on the go.

The Axos Bank Rewards Checking account is a great way to earn interest on your deposits, but you'll need to meet certain requirements to qualify. To earn interest, you'll need to receive direct deposits totaling $1,500, which is the minimum requirement to be eligible for interest.

You can earn higher interest rates by meeting additional requirements, such as making 10 debit card purchases, maintaining an average daily balance of $2,500 in an Axos Invest Managed Portfolios Account, or using your Rewards Checking account to make your full monthly Axos consumer loan payment.

Here's a breakdown of the interest rates you can earn based on the requirements:

Remember, to earn any interest at all, you'll need to meet that first direct deposit requirement.

The Axos Bank Rewards Checking account offers a range of benefits, but let's break down the pros and cons.

One of the biggest advantages is that it has no monthly maintenance fees or ongoing account minimums. This means you can use the account without worrying about extra charges.

Another perk is the unlimited domestic ATM fee reimbursements, so you can withdraw cash without worrying about fees.

The account also comes with a Visa Debit Card for in-person and online purchases, which can be a convenient option for everyday spending.

However, to earn a higher interest rate, you'll need to make at least 10 purchases per month, with a minimum of $3 per transaction.

Here are the key pros and cons of the Axos Bank Rewards Checking account:

Overall, the Axos Bank Rewards Checking account offers a range of benefits, but it's essential to understand the requirements for earning a higher interest rate.

The Rewards program offered by Axos Bank is a great way to earn interest on your account balance. You can earn up to 3.30% APY by completing certain monthly activities.

To earn interest, you must receive qualifying direct deposits to activate other options, such as debit card payments, investment accounts, or loan payments. The interest rate is tiered, with a minimum of 0.40% APY for receiving direct deposits totaling $1,500.

You can also earn interest by making 10 debit card purchases, maintaining an average daily balance of $2,500 in an Axos Invest Managed Portfolios Account, or using your Rewards Checking account to make your full monthly Axos consumer loan payment. Each of these activities earns an additional 0.30%, 0.20%, or 0.15% APY, respectively.

Here's a breakdown of the interest rates you can earn:

To get started with the Rewards program, you can open an Axos Bank Rewards Checking account and use promo code RC500 at account opening.

To open a new customer account, you'll tap the "Get Started" button from the Reward Checking product page. You'll be asked if you want to open a fee-free high-yield savings account simultaneously.

To enroll in the Rewards Checking offer, use promo code RC500 at account opening. You can find the full requirements for the Axos bonus here.

Axos will ask if you're a new customer, an existing customer, or a returning applicant. You'll also receive banking details to provide to your employer or benefits provider to start routing your direct deposits to your Axos checking account.

You can enter a promo code in the Axos application to earn a bonus. The promo code RC500 is required to enroll in the Rewards Checking offer.

To use the promo code, you'll need to enter it at account opening. This will give you the bonus associated with the offer.

If you're applying for the Axos Basic Business Checking account, you'll need to use the promo code NEW400 to earn the welcome bonus of up to $400.

Here's a quick reference guide to promo codes for Axos accounts:

Remember to use the correct promo code for the account you're applying for to earn the associated bonus.

One Savings Features offer a great way to maximize your savings. You can earn up to 4.86% APY on your savings when you meet certain requirements.

To earn this rate, you'll need to receive qualifying monthly direct deposits of at least $1,500 in total and maintain an average daily balance of $1,500 in your Axos ONE Checking account.

One of the best things about One Savings is that you can get your money up to 2 days early. This means you can start earning interest on it sooner.

There are no monthly maintenance, minimum balance, account opening, or overdraft fees associated with One Savings, which can help you save even more.

Your deposits are also covered by expanded FDIC Insurance for up to $250 million, which gives you peace of mind.

Here are the key requirements to earn the boosted APY on One Savings and One Checking:

Axos Bank offers a competitive APY rate of 0.20% for their Business Savings Account.

To earn this rate, you'll need to open an account and meet their requirements.

Both the Business Premium Savings Account and Business Savings Account offer remote deposit capabilities, making it easy to manage your finances.

No monthly fees are associated with either account, so you can save money on administrative costs.

You can access your account information and make transactions through free online banking and mobile banking options.

Variable interest is compounded daily, ensuring your savings grow over time.

FDIC insurance protects your deposits, giving you peace of mind.

With Axos Bank, you can open a Business Money Market Account and earn a 0.20% APY Rate. This is a great option for businesses looking for a low-risk investment.

To get started, you'll need to open a new account and follow the steps to meet the requirements. Remote deposit from anywhere is one of the perks of this account.

You'll also have access to free image statements, making it easy to stay on top of your finances. This is a big plus for businesses that need to keep track of their money.

Here are some key details to keep in mind:

Self Directed Trading is a great way to take control of your investments. You can open an account in under 10 minutes.

With Axos Self Directed Trading, you can trade thousands of listed stocks, including S&P 500, NASDAQ, and NYSE stocks. This gives you a wide range of options to choose from.

One of the best things about Axos is that they offer commission-free trades on eligible stocks and ETFs. This can save you a lot of money in the long run.

Their platform is also very user-friendly, making it easy to place trades anytime, anywhere. You can even link your Axos Bank account for fast and safe money transfers.

If you're looking to upgrade your account, Axos Elite offers instant access to funds, lower fees, increased buying power, and enhanced market knowledge. This can be a great option if you're serious about investing.

You can open an Account in Under 10 Minutes. This makes it super easy to get started.

No investing experience is needed to use the Axos Managed Portfolio. This means you can start investing without feeling overwhelmed.

Automatic portfolio rebalancing is also a feature of the Axos Managed Portfolio. This helps keep your investments on track.

There's no account minimum or annual account maintenance fee. You can get started with just $500.

You can use the free auto-deposit scheduling tool to make saving and investing easier. This helps you make regular investments without having to think about it.

Available tax-loss harvesting is another feature of the Axos Managed Portfolio. This can help you save money on taxes.