Axiom Bank Review

Overview

Axiom Bank first started operating in 1962 with headquarters in Maitland, Florida. It handles assets of $810 million as well as $718.2 million in deposits, ranking it as a medium-size bank. Axiom Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a score of 3.4 stars out of 5, Axiom Bank should be more closely examined to see if its services fit your needs. Axiom Bank provides customers with a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs and IRAs. Axiom Bank has a fair savings rate; other popular banks have higher rates. The bank's standard checking product features a monthly fee of $15, making it a rather pricey bank for checking. Institutions that offer no-fee checking, in addition to a high interest rate savings account are your best bet for gaining the highest income on your deposits alongside convenient access to your funds.

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

With a savings rate of 3.25%, Axiom Bank ranks poorly well to the average U.S. bank. Its one-year CD earns at a rate of 5.25% and the five-year CD earns at a rate of 2.50%, while its highest-yielding money market account has an APY of 3.25%. Given Axiom Bank's competitive savings rate, you should think about choosing this bank to earn more on your deposits.

How Axiom Bank's Savings Rates Compare

On average, Axiom Bank charges customers high fees compared to other U.S. banks. Its checking account has a monthly fee of $15, ranking it fair for anyone looking for a simple account. Axiom Bank does not refund out-of-network ATM fees, meaning you will have to locate an Axiom Bank ATM or pay the ATM charge.

Axiom Bank is a brick-and-mortar bank, with 25 total bank locations in Florida. With mobile and web apps, Axiom Bank makes mobile banking straightforward, even on the go. Axiom Bank's online and mobile banking platforms get fair marks from users. The Axiom Bank mobile app has an overall rating of 3.8 out of 5 (out of 8 ratings on Apple and Android) compared to the national average of 3.8. You can utilize Axiom Bank's app to control your funds by looking at monthly statements, transferring funds and accessing support representatives. Axiom Bank receives an excellent consumer satisfaction rating due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Axiom Bank ranks as a medium-size bank with $810 million in assets and $718.2 million in deposits. It has a strong Texas Ratio of 11.56%, signifying a tiny likelihood of failure. Additionally, Axiom Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Products Offered

Axiom Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Axiom Bank does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Axiom Bank's CD rates are fair in comparison to the average U.S. bank.

Find a Axiom Bank Near Me

Axiom Bank has 25 locations in the U.S.