Axos Bank First Checking Account
A great way for teens to start banking, the First Checking comes with:
- digital banking tools,
- 24/7 customer support,
- enhanced security features,
- up to $12 domestic ATM fee reimbursed.
securely on the bank's website
If you'd like your teen to begin their financial journey, opening an Axos Bank First Checking account with you as the co-owner might be a great way to start!
Featuring many benefits, just like all the other Axos Bank checking account do, the First Checking is designed with young people in mind: to help them experience first-time banking, acquire money management skills, and build good financial habits! To that end, Axos Bank has provided a suite of digital banking tools, including a mobile app, with digital wallet, and a virtual assistant, so that your teen could always keep an eye on their checking account. Plus, with plenty of security and identity protection features, you can rest assured knowing your child's account is safe and secured. However, it's important that your teen learn how to protect themselves, especially online - and the bunch of financial education resources Axos Bank has shared on its website could be more than useful. There are many articles and tips on how to create a strong password, how to browse online, how to keep personal and account information safe, and more.
With a Visa debit card included in the First Checking Account offer, your teen will be able to learn how to spend wisely - while there aren't any overdraft or NSF fees, there are limits to the amount of money your teen will be able to spend or withdraw from their First Checking account, so they don't overspend. Since you'll be the co-owner, you can even order one Visa for yourself!
It's important to note that ATM fees do apply when using the Axos Bank First Checking Visa debit card. However, Axos Bank will reimburse you up to $12 each month in case you get charged any ATM fees in the U.S. You can also use Axos Bank's ATM locator to find surcharge-free ATMs in your area.
One great thing about the First Checking account is that your teen will earn interest on their balance, which can be a good way for them to see the benefits of savings, and making financial plans for the future! Also, the First Checking it's included in Axos Bank's Refer a Friend program, so you can earn up to $20 when your friends open an Axos Bank Essential Checking Account!
Do note Axos Bank is an online bank, so there aren't any physical branches you can visit in case you need any further help. This, however, can be a positive thing, since your teen will be able to learn and figure everything out on their own! If you ever need assistance, there's 24/7 customer support available online or by phone, and a virtual assistant to guide you through.
Checking account details
- Visa Debit card.
- Online and Mobile Banking with Bill Pay, and Digital Wallet.
- Peer-to-Peer payments.
- Account alerts.
- Biometric identification.
- Up to $12 domestic ATM fees reimbursed per month.
- Free incoming domestic and international wire transfers.
- No check writing privileges.
- Evo assistance.
- Refer a friend.
- 24/7 customer support.
Checking account fees
Minimum Deposit to Open$50
Out-of-Network ATM Transaction Feen/a
Out-of-Network ATM Withdrawal Feen/a
Non-Sufficient Funds Fee$0
Foreign Transaction Fee1%
Axos Bank First Checking Account FAQ
Teens aged 13 - 17 (18 in Alabama) can open an Axos Bank First Checking Account, but only if they have an adult co-owner.
Your parent or guarding can apply for the Axos Bank Rewards Checking account online, straight from this page, by clicking on the "APPLY NOW" button, which will take them directly to the Axos Bank website.
They'll be asked to provide their personal information, including their:
- Name, email, and phone number.
- New username and password,
- Valid U.S. driver’s license or State ID (you can either submit a photo thereof or enter the information manually).
- Home address,
- Social Security number,
- Date of birth.
Your parent or legal guardian will then be required to add your personal/contact information, too. They'll also be able to order a debit card for themselves, as well.
Yes, there is! While the Axos Bank First Checking already lets you earn interest, it's always a good idea to open a savings account, which often comes with more competitive interest rates.
Axos Bank's savings account, however, also comes with up to 0.25% APY, so if you were looking for higher rates, you might want to keep shopping.
Yes, with the Axos Bank First Checking, you can withdraw up to $100 per day, and spend up to $500 using your Axos Bank Visa debit at the point of sale.
Since the Axos Bank First Checking is designed for young people, there are some restrictions as to where you can use the Visa debit card associated to your First Checking Account, as well as to what products and services you can buy using you Visa. These merchant/product/service categories are marked with a merchant code. The following merchant codes are prohibited:
- 5813: Drinking Places (Alcoholic Beverages), Bars, Taverns, Cocktail lounges, Nightclubs and Discotheques,
- 5921: Package Stores - Beer, Wine, and Liquor,
- 7273: Dating and Escort Services,
- 7297: Massage Parlors,
- 7995: Betting (including Lottery Tickets, Casino Gaming Chips, Off - track Betting and Wagers),
- 9223: Bail and Bond Payments.
Once you've opened the First Checking Account, you need to enroll in Axos Bank's Online Banking by completing a form available on the Axos Bank website. You'll be asked to provide your personal information, including your name, address, SSN, date of birth, username and password.
When you finally access Online Banking, you'll be able to perform any banking tasks you want. For example, you can set up automatic bill payments, make wire transfers, create account alerts, manage your debit card, and more!
With Axos Bank's mobile app, you can check your account balances and account transaction history, transfer funds between eligible accounts, pay bills, contact a customer service representative, and perform many other banking tasks.
Since there are so many built-in security features, you can bank safely, and with confidence, knowing your information and device are protected.
You can chat safely and securely with Axos Bank's virtual financial assistant, Evo, when you sign in to your account via a web browser or the Axos Bank Mobile app. You'll spot a tiny x icon, which represents Evo, and all you need to do to launch the chat is click on that icon.
Evo is also available to answer your questions even if you're still just considering Axos Bank's checking accounts or any other products or services the bank's offering. Of course, some information is only available to logged in users.
No, actually, the program works only for the Axos Bank Essential Checking Account. You can earn unlimited referral bonuses when your friends apply for an Axos Bank Essential Checking Account, and meet a number of requirements.
More precisely, Axos Bank's Refer a Friend works as follows:
Each time you invite a friend using your unique referral link to open the Axos Bank Essential Checking Account to a friend, you will receive $20!
That said, there are some conditions. Your friend must:
- Be a new Axos Bank customer, i.e. they have never owned an Axos Bank account.
- Apply through the referral link you provided.
- Be approved to open the account.
- Add $500 or more to their new account.
- Receive a direct deposit of $100+.
After your friend has made the initial $500+ deposit, and maintained an average minimum daily balance of $500+ for a month, you'll receive $10. If your friend then receives a direct deposit of $100+ and maintains the $500 minimum balance for the next month as well, you'll receive the last $10 into your account. By the way, your friend will also receive the reward!
Axos Bank routing number is 122287251.