Axos Bank Business Money Market

Axos Bank Business Money Market is a tiered, variable-rate business money market account. The page lists 0.20% APY (0.20% rate) on every balance tier from $0 to $4,999,999.99, with balances of $5,000,000 or more quoted by a business banking relationship manager. The table carries the footnote that the APY is accurate as of 6/26/2024, so confirm the current rate with Axos before opening. The minimum opening deposit is $1,000 and the minimum average daily balance is $5,000. A $10.00 monthly maintenance fee applies if the average daily balance falls below $5,000. Axos may limit transfers to a combined maximum of six per month, with a fee on excess transfers. The page does not mention check writing or a debit card. Listed features include free image statements, online banking, and mobile banking with Remote Deposit Anywhere. Deposit accounts are FDIC insured through Axos Bank under FDIC Certificate 35546, and balances may qualify for extended coverage through the ICS program. Because the displayed yield is low and the rate table is dated, this account looks like a parking spot for operating cash. Axos's Business Premium Savings advertises a much higher standard rate as of 10/17/2026.