Digital banking leader Axos Bank’s Rewards Checking account has been named Best Checking Account Overall and Best High-Interest Checking Account by personal finance website The Ascent as part of its Best-Of 2020 Awards.
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“Axos offers the perfect marriage of low fees and high returns with its Axos Rewards Checking account. It offers the highest APY of any popular checking account by a wide margin,” The Ascent said. “On top of this … you won’t have to pay any monthly maintenance fees and you’ll get unlimited domestic ATM fee reimbursements, so you don’t have to worry about fees eating into your balance.”
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The Ascent also noted that while “other high-yield checking accounts require you to keep a five-figure balance to max out your returns,” that’s not the case with Axos Rewards Checking. A minimum balance of $50 is required to open an account. After that, to qualify for the highest interest rate, customers must simply receive monthly direct deposits of at least $1,000 and use their Axos debit card for at least 15 transactions a month.
Launched in 2018 by financial-services company The Motley Fool, The Ascent provides reviews on hundreds of financial products and services such as credit cards, savings accounts, mortgages, and discount brokers.
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