While Axos Bank presents a digital-first approach to banking, some users report issues with app functionality and find certain account requirements restrictive. If you're weighing your options, this article will explain what Axos Bank offers, explore the reasons you might look for an alternative, and introduce other solutions for your banking and global payment needs.
What is Axos Bank?
Originally founded as Bank of Internet USA, Axos Bank is a digital financial institution offering personal and business banking, loans, and investment solutions. The bank attracts customers with competitive interest rates, minimal fees, and broad ATM network access.
For business clients, the bank provides accounts like Basic Business Checking, which has no monthly maintenance fees and unlimited transactions. It also features an Interest Checking account, though a minimum daily balance is needed to avoid the monthly charge.
What to Consider When Selecting a Axos Bank Alternative?
When searching for a financial platform to replace Axos Bank, it's helpful to evaluate your specific business needs. Here are five key factors to consider:
- Fee Structure:Analyze the monthly maintenance, transaction, and international transfer fees to find a cost-effective solution for your business volume.
- International Capabilities:Assess the platform's support for multi-currency accounts and global payment networks if your business operates across borders.
- Digital Asset Integration:Consider whether the platform supports crypto-based transactions and conversions, especially if you operate in the Web3 space.
- Customer Support Quality:Look into customer reviews and support channels to ensure you can get responsive and helpful assistance when you need it.
- Business Tools and Integrations:Evaluate the availability of built-in tools for invoicing, payroll, and expense management, or integrations with software you already use.
If these considerations resonate with your priorities, the following section explores several alternatives that might be a better fit for your business.
10 Best Alternatives to Axos Bank
1. OneSafe
OneSafe is a finance platform designed to modernize banking for businesses, particularly those operating in the Web3 and crypto sectors. We provide essential tools for effortless fund management, quick payments, and access to both traditional and digital assets.
Our platform offers a direct 1:1 conversion from USD to USDC on Polygon, which simplifies payroll and expense management for global teams. Businesses also benefit from our streamlined onboarding, rapid account setup, and responsive customer support tailored for the digital asset space.
Pricing
Here's a glance at our straightforward pricing:
- Free Account Services: Enjoy free account opening and maintenance, no monthly subscriptions, and complimentary virtual and physical card issuance.
- $0 Minimum Balance: Operate your account without the pressure of maintaining a minimum balance.
- Low-Cost Domestic Transfers: Pay just 0.1% for US domestic ACH and wires, or a flat $25 fee for Fedwire.
- Competitive International Payments: Handle SEPA (EUR) payments for 0.2% and international wires for 0.2% plus a $50 SWIFT fee.
- Transparent Crypto & FX Fees: Benefit from a 0.1% fee on USDT transactions and fiat-to-crypto conversions at market rates with no hidden charges.
Reviews
Clients consistently praise our platform for its exceptional customer support and for providing a straightforward banking solution that understands the unique needs of modern businesses. Users find that OneSafe simplifies complex financial operations, especially for companies in the Web3 space.
- Amit Chu, Investments @ Celo Foundation: “OneSafe has the best customer support I've ever experienced from a bank.”
- Marco, CEO of Ensuro: “OneSafe is a game-changer. They solve so many headaches for our company. Finally a banking solution that gets it.”
Want a banking solution that's a game-changer? Check us out here.
2. Countingup
Countingup is a UK-based company established in 2017, offering a business current account with integrated accounting software. This setup allows small businesses to handle their financial tasks within a single mobile application.
The platform includes features for instant invoicing, automatic expense categorization, and receipt capture. It also provides real-time tax estimates and business insights intended to automate financial administration for business owners.
Pricing
Here's their pricing at a glance:
- £3 per month: For total monthly deposits up to £750.
- £9 per month: For total monthly deposits between £750 and £7,500.
- £18 per month: For total monthly deposits exceeding £7,500.
- Transaction Fees: Charges include 30p for transfers, 3% for foreign transactions, and £1 per ATM withdrawal.
- Other Fees: Cash loads cost between 0.5% and 3%, and a replacement card is £5. A three-month free trial is available.
Reviews
User reviews mention the app's features and setup process, but also cite issues like account suspensions, payment delays, and limited customer support. Check out more Countingup reviews here.
3. Credem
Credito Emiliano S.p.A., or Credem, is an Italian banking institution founded in 1910 and headquartered in Reggio Emilia. It offers retail and corporate banking, insurance, and investment solutions through several divisions.
The bank is known for accepting wheels of Parmigiano Reggiano cheese as collateral for business loans. This practice is an established part of its lending operations.
Pricing
Credem's pricing structure varies depending on the service, with investment solutions featuring custom rates. Account maintenance fees start at €4 per month, though card issuance and withdrawals from Credem ATMs are free of charge.
Reviews
User reviews frequently mention delays in receiving debit and credit cards and a lack of modern digital card options. Some customers also express concerns regarding the responsiveness of the bank's customer service. Check out more Credem reviews here.
4. OneMoneyWay
OneMoneyWay is a digital platform that facilitates global financial operations for small and medium-sized enterprises in Europe. The company offers international transfers with local IBANs, foreign exchange for over 24 currencies, and various payment solutions including SWIFT, SEPA, and US ACH.
The platform advertises faster transaction speeds than traditional banks and does not impose transaction limits. It also provides virtual and physical corporate cards, business accounts, and payment terminals through regulated partners.
Pricing
Here's their pricing at a glance:
- Free Freemium: For businesses with annual revenue below £150,000, this plan includes one business account, one virtual corporate card, and higher transaction fees.
- £49/month Starter: Billed annually, this plan provides up to three business accounts, two virtual and two physical corporate cards, an English-speaking personal advisor, and lower transaction fees.
- £99/month Business: Billed annually, this plan offers up to five business accounts, unlimited virtual corporate cards, four physical corporate cards, a personal advisor, and the lowest transaction fees.
All prices are indicative and depend on the company's revenue and industry.
Reviews
User reviews often comment on the level of service and staff interaction. Feedback also touches on platform features, such as local IBAN accounts, and the time required for account setup. Check out more OneMoneyWay reviews here.
5. Multipass
Multipass is a UK-based financial technology company that provides businesses with multi-currency virtual International Bank Account Numbers (IBANs) and local accounts in the EU, UK, and US. The company also offers corporate cards for daily expenses and online banking services.
The platform enables businesses to send, receive, and exchange over 70 currencies. For support, Multipass provides dedicated relationship managers to its clients.
Pricing
Multipass determines its pricing based on individual business needs, applying fees across several categories. These include onboarding, which starts at £500, monthly maintenance from £100, and variable charges for payments and corporate cards.
Reviews
User reviews frequently comment on the platform's functionality for international payments, its user interface, and the multicurrency features. The responsiveness of customer support and the role of dedicated account managers are also common topics in user feedback. Check out more Multipass reviews here.
6. Novo
Novo is a financial technology company that provides FDIC-insured business deposit accounts through its partnership with Middlesex Federal Savings. The platform offers a mobile-first banking experience designed for small business owners, freelancers, and entrepreneurs.
Its business checking account has no monthly fees or minimum balance requirements, and it provides refunds on ATM fees. The service also includes a free invoicing tool, integrations with various business applications, and access to partner discounts on other services.
Pricing
Novo offers a business checking account that does not have monthly fees, minimum balance requirements, or transaction fees. The account includes free incoming wires and provides refunds on ATM fees up to $7 per month.
Reviews
User reviews indicate issues with customer service, including slow response times and difficulties with dispute resolution. Other common complaints involve unexpected account closures, technical problems with the app, and the lack of physical branches for in-person support. Check out more Novo reviews here.
7. Revolut
Revolut is a British financial technology company founded in 2015 that provides a range of banking services. Its offerings include current accounts, debit and credit cards, stock and cryptocurrency trading, and peer-to-peer payments.
The platform allows users to manage and exchange over 25 currencies at the interbank rate and facilitates both local and international money transfers. It also provides team management tools like physical and virtual cards with spending controls, alongside integrations with accounting software such as Xero and Sage.
Pricing
Here's their pricing at a glance:
- From £10 per month Basic Plan: provides essential features for running a business.
- From £30 per month Grow Plan: offers additional tools to manage spending and operations.
- From £90 per month Scale Plan: designed for businesses with higher transaction volumes and advanced needs.
- Custom pricing Enterprise Plan: tailored to specific business requirements.
Reviews
User reviews frequently address the app's interface and payment features, though some customers mention difficulties with support and a lack of certain traditional banking functions. Check out more Revolut reviews here.
8. Wallester
Wallester is a financial technology company that offers corporate expense management solutions through virtual and physical Visa cards. The company's services are intended to help manage financial operations for businesses of all sizes.
The platform includes features like real-time expense control, financial reporting, and accounting software integrations. It also provides instant virtual card issuance, multi-currency support, and an advanced API for further integration.
Pricing
Wallester provides a free plan that includes up to 300 virtual cards and unlimited physical card issuance, with no account or minimum balance fees. Additional virtual cards are priced at €0.20 per card per month, and premium plans are available for businesses with larger requirements.
Reviews
User reviews frequently comment on the platform's interface, financial reporting, and the responsiveness of customer support. Some customers have noted challenges with integration and occasional delays in technical support. Check out more Wallester reviews here.
9. Tide Bank
Tide is a UK-based financial technology company established in 2015, offering mobile-first banking services for small and medium-sized enterprises. The platform provides current accounts, automated bookkeeping, integrated invoicing, and compatibility with various accounting software.
Businesses can open an account in minutes through the app and deposit cash at UK Post Office or PayPoint locations. The service also includes expense cards for team spending and facilitates international payments for global transactions.
Pricing
Here's their pricing at a glance:
- No monthly fee Free Plan: Charges include 20p per UK transfer and £1 per ATM withdrawal. Cash deposits at the Post Office incur a 0.99% fee with a minimum of £2.50.
- £12.49 + VAT per month Smart Plan: Includes 25 free UK transfers, one free expense card, and priority in-app support. Foreign currency card transactions are subject to a 2.75% FX fee.
- £24.99 + VAT per month Pro Plan: Offers unlimited free UK transfers, two free expense cards, and 24/7 phone and legal support. Foreign currency card transactions are fee-free.
- £69.99 + VAT per month Max Plan: Provides unlimited free UK transfers, three free expense cards, and a dedicated account manager. Foreign currency card transactions are fee-free.
- Free Trial: A 3-month free trial is available for paid plans.
Reviews
User reviews mention issues with customer support responsiveness and account access, with some customers reporting unexpected freezes or difficulties during onboarding. Check out more Tide Bank reviews here.
10. Kontist
Kontist is a German financial service provider that offers business banking solutions tailored for freelancers and self-employed individuals. The company provides a business account with a German IBAN and a physical Visa debit card for transactions.
The platform includes automatic tax estimation and real-time calculations to help users manage their financial obligations. It also allows for setting aside funds specifically for tax payments, aiming to simplify financial administration.
Pricing
Here's their pricing at a glance:
- Free Business Account: Includes a German IBAN, a physical Visa debit card, and real-time tax estimation.
- €11 per month + VAT Start Plan: Adds subaccounts and includes 30 SEPA transfers.
- €25 per month + VAT Plus Plan: Provides VAT return and business evaluation features.
Reviews
User reviews often comment on the platform's fees and transaction limits, with some customers also reporting concerns about customer service responsiveness. Check out more Kontist reviews here.
Which One Should You Go With?
Choosing the best Axos Bank alternative ultimately depends on your business's unique demands. While each option has its strengths, we recommend OneSafe if you need a platform that truly understands the intersection of traditional and digital finance. Experience a banking solution built for modern business by signing up for OneSafe today.
