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Axos Bank vs Bank of America: what each publishes

As of October 17, 2026, Axos Bank takes these industries by its own published rules: AI and SaaS; Crypto, with conditions; iGaming, with conditions; Unlicensed financial services, with conditions. We hold no such rule from Bank of America.

Axos BankFDIC / OCCBank of AmericaFDIC

Not a ranking: the two names are in alphabetical order. The free check applies every provider’s rules to your own answers.

Where it takes companies from

Axos Bank

The regions its own documents name, read on October 9, 2026

Bank of America

Its own list of countries, quoted below with its source and date

Policy by industry

Axos Bank and Bank of America: published policy by industry
IndustryAxos BankBank of America
AI and SaaSYesNo published rule
CryptoWith conditionsNo published rule
iGamingWith conditionsNo published rule
Unlicensed financial servicesWith conditionsNo published rule
AdultNo published ruleNo published rule
Forex and CFDNo published ruleNo published rule
MarketplaceNo published ruleNo published rule

Where owners must live

Axos Bank

U.S. citizenship is not required in order to open an account or be a signer on a business account, but you must be a U.S. resident with a physical U.S. address and social security number.

Owners and directors · · Source

Bank of America

One of the business owners or controlling managers must be a U.S. citizen or resident.

Owners and directors · · Source

Rules about countries

Axos Bank

No published rule

Bank of America

Must be U.S. based. Foreign business customers are unable to apply at this time.

Bank of America · Takes companies registered in · · Source

United States

Fees

Axos Bank

Axos Bank: published fees
PlanAccount openingMonthlyChecked
Basic Business CheckingNot statedNone ('Basic Business Checking is a business checking account with no monthly maintenance fees') · Source
Business Interest CheckingNot statedUSD 10 a month, waived with a USD 5,000 minimum average daily balance ('monthly maintenance fee is waived with $5,000 minimum average daily balance') · Source

Bank of America

Bank of America: published fees
PlanAccount openingMonthlyChecked
Business Advantage Fundamentals BankingNot stated; opening deposit USD 100 or more ('Opening Deposit $100 or more')USD 16 ('$16.00 each month.'), not charged until the thirteenth statement cycle closes; waived with a combined average monthly balance of USD 5,000 or more in eligible linked business deposit accounts, USD 500 or more in qualifying new net purchases with the linked business debit card, or Preferred Rewards for Business membership · Source
Business Advantage Relationship BankingNot stated; opening deposit USD 100 or more ('Opening Deposit $100 or more')USD 29.95 ('$29.95 each month.'), not charged until the third statement cycle closes; waived with a combined average monthly balance of USD 15,000 or more in eligible linked business deposit accounts or Preferred Rewards for Business membership · Source

Closing an account

Axos Bank

The Bank reserves the right to close your account for any reason or without cause. We need not advise you of the reason for taking this action. The Bank need not give advance notice of any closure.

Notice before closing · · Source

Account closed or frozen? What Axos Bank’s terms say

Bank of America

You or we may close your checking or savings account at any time without advance notice, except that we may require you to give us seven days advance notice when you intend to close your savings or interest-bearing checking account by withdrawing your funds.

Notice before closing · · Source

Account closed or frozen? What Bank of America’s terms say

Licence

LicenseeAxos BankBank of America
LicenseeAxos Bank · federal savings bank chartered by the OCC, Member FDIC (FDIC cert 35546)Bank of America, National Association · national bank, Member FDIC (FDIC cert 3510)
RegulatorFDIC / OCC · FDIC ·