Axos Bank Review

If having access to your money market funds via debit card is useful to you, the regular High-Yield Money Market Account from Axos Bank is an excellent option.

Its provision of a combined ATM/debit card along with unlimited withdrawals, a great interest rate of 0.25%, and no fees earns it our honors for best money market account for debit users.

Pros

• Highly competitive interest rate
• No minimum ongoing balance
• No monthly maintenance fees
• Unlimited number of withdrawals every month

Cons

• Must open with a minimum $1,000 deposit
• No refunds on ATM charges
• Paper checks carry an order charge

Right behind Patelco’s exceptionally high rates on low balance amounts, the 0.60% APY paid by Axos Bank’s regular High-Yield money market account is at the top of the national charts. And you earn the same APY on all balance amounts, whether you have $1,000 socked away or $100,000.

Axos, which was founded in San Diego in 2000 as one of the first digital banks. If you want to use your debit card liberally, or just use the account for a large amount of online payments and transfers, you can do that at no expense with an Axos account.

There are no monthly fees on the Axos regular High-Yield money market, and no minimum balance requirement. To start things off, though, you’ll have to make an initial deposit of at least $1,000.