Offer at a glance
Maximum bonus amount: $300
Availability: Nationwide
Direct deposit required: Yes, $1,000+ per month for three months
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: No
Monthly fees: None
Early account termination fee: Unsure
Household limit: None
Expiration date: July 31, 2024
The Offer
Axos Bank is offering a $300 bonus when you open a new checking account and complete the following requirements:
Use promo code FREEDOM300
Set up a direct deposit of $1,000 per month and earn $100 bonus per month (up to $300)
The Fine Print
To be eligible to earn all or a portion of the cash incentive as part of the “FREEDOM300″ $300 promotion, an Axos Bank Rewards Checking account that includes the promotional code ” FREEDOM300″ must be opened between November 1, 2023, at 12 a.m. PST and July 31, 2024, at 11:59 p.m. PST. Axos Bank reserves the right to limit each primary account holder to one (1) checking account promotional offer per year, and customers who have held primary ownership of an Axos Bank or Axos Bank for Nationwide checking account at any time in the past 12 months may be disqualified from the ” FREEDOM300″ offer. Promotional terms and conditions are subject to change or removal without notice. Bonus cash may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After meeting the initial requirements mentioned above, the amount of cash bonus earned will depend on meeting the additional requirements outlined below:
To earn up to a $300 bonus, you must be approved for your new Axos Bank CashBack Checking account, fund it within 30 days of account opening, and have qualifying direct deposits that total at least $1,000.00 each calendar month. A cash bonus of up to $300 can be earned in the following manner during the first four (4) statement cycles. A statement cycle is a calendar month consisting of the days your account was open during that month. A maximum of three (3) payouts of $100 for each calendar month that the CashBack Checking account is receiving the direct deposit requirement, the bonus can be earned during the first four (4) statement cycles, and the bonus will be deposited into your Axos Bank CashBack Checking account within 10 business days following the end of the statement cycle in which the direct deposit requirement was met. Your Axos Bank CashBack Checking account must be open and in good standing at the time the bonus is paid to be eligible to receive the bonus, and your Axos Bank CashBack Checking account must remain open for 120 days, or an early closure fee of up to $300 may apply, equal to the amount of the total bonus earned up to $300.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
No monthly fee to worry about
Early Account Termination Fee
Axos Bank Rewards Checking account must remain open for 210 days, or an early closure fee of up to $300 may apply, equal to the amount of the total bonus earned up to $300.
Our Verdict
You can try to stack this with another $150 via Swagbucks but the terms do state it can’t be stacked with other promotions (in the past it has worked though). This is significantly better than the other $300 bonus as the requirements are so much easier. If you’re eligible I think this is worth doing and we will add this to our list of the best bank account bonuses.
Hat tip to reader Bockrr
Useful posts regarding bank bonuses:
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