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Refund Policy - Axos Bank
Refund Policy
Effective Date: January 1, 2025
1. Introduction
This Refund Policy explains the circumstances under which axosba.us.com ("we," "us," or "our") may issue refunds for fees charged in connection with our banking services. We are committed to providing transparent and fair refund practices to our customers.
This policy applies to all fees associated with our online banking services, including but not limited to account maintenance fees, transaction fees, and service charges.
2. Types of Fees
Our services may include the following types of fees:
| Fee Type |
Description |
Refund Eligibility |
| Monthly Maintenance Fees |
Regular account maintenance charges |
Case-by-case basis |
| Transaction Fees |
Fees for specific transactions (wire transfers, etc.) |
Limited circumstances |
| Overdraft Fees |
Charges for insufficient funds |
Eligible in specific situations |
| ATM Fees |
Out-of-network ATM usage fees |
Case-by-case basis |
| Wire Transfer Fees |
Domestic and international wire transfer charges |
Only if transfer failed |
| Stop Payment Fees |
Fees for stopping a payment |
Generally non-refundable |
3. Refund Eligibility
3.1 Eligible Circumstances
You may be eligible for a refund in the following circumstances:
- Bank Error: If we charged you a fee in error or charged an incorrect amount
- System Malfunction: If a technical issue caused duplicate charges or incorrect fees
- Unauthorized Transactions: If fees resulted from unauthorized or fraudulent activity
- Failed Transactions: If a transaction failed to complete but fees were charged
- Service Not Rendered: If you were charged for a service that was not provided
- Account Closure: If you close your account within 30 days of opening, certain fees may be refunded
- First-Time Courtesy: We may waive or refund certain fees as a one-time courtesy for first-time occurrences
3.2 Non-Refundable Fees
The following fees are generally non-refundable:
- Fees resulting from your failure to maintain minimum balance requirements
- Fees for services that were properly rendered
- Late payment fees (unless due to bank error)
- Fees disclosed and agreed to at the time of transaction
- Third-party fees (such as merchant processing fees or other bank's ATM fees)
- Returned item fees for legitimate returned items
- Fees associated with account misuse or violations of our Terms and Conditions
4. Refund Request Process
4.1 How to Request a Refund
To request a refund, please follow these steps:
- Contact Us Promptly: Submit your refund request as soon as possible after the fee is charged. Requests should be made within 60 days of the transaction date.
- Provide Information: Include the following information in your request:
- Your full name and account number
- Date of the transaction or fee
- Amount of the fee
- Detailed explanation of why you believe a refund is warranted
- Any supporting documentation
- Submit Your Request: Contact us through one of the following methods:
- Email: refunds@axosba.us.com
- Online banking message center
- Phone: Call customer service
- Mail: Send written request to our mailing address
4.2 Review Process
Once we receive your refund request:
- We will acknowledge receipt of your request within 2 business days
- We will review your request and any supporting documentation
- We may contact you for additional information if needed
- We will provide a decision within 10-15 business days
- If approved, the refund will be processed within 5-7 business days
5. Refund Methods
Approved refunds will be issued using one of the following methods:
- Account Credit: The refund amount will be credited directly to your account (most common method)
- Original Payment Method: Refund to the original payment method used for the fee
- Check: A check may be issued in certain circumstances, particularly for closed accounts
The refund method will be determined based on the circumstances and the type of fee being refunded.
6. Processing Time
Refund processing times vary depending on the method:
- Account Credit: 1-3 business days
- Original Payment Method: 5-10 business days
- Check by Mail: 7-14 business days
Please note that these are estimated timeframes and actual processing times may vary.
7. Disputed Transactions
7.1 Disputing Unauthorized Charges
If you believe you have been charged for an unauthorized transaction:
- Notify us immediately, preferably within 2 business days of discovering the charge
- Complete a dispute form with detailed information about the transaction
- We will investigate the claim and may issue a provisional credit while investigating
- Investigation typically takes up to 45 days for standard transactions, up to 90 days for international transactions
7.2 Merchant Disputes
For disputes with merchants regarding products or services:
- First attempt to resolve the issue directly with the merchant
- If unresolved, you may file a dispute with us within 60 days of the transaction
- Provide documentation of your attempts to resolve with the merchant
- We will work with the merchant's bank to resolve the dispute
8. Overdraft Fee Refunds
Overdraft fees may be refunded in specific circumstances:
- Bank Processing Error: If transactions were processed in an incorrect order causing unnecessary overdrafts
- Delayed Deposit: If a deposit was delayed due to our processing error
- First-Time Occurrence: We may waive the first overdraft fee as a courtesy
- Small Dollar Amount: Overdrafts under $5 may be eligible for fee waiver
To request an overdraft fee refund, contact us within 30 days of the fee being charged.
9. ATM Fee Refunds
We may refund ATM fees in the following situations:
- You were charged an ATM fee despite using an in-network ATM
- You were charged multiple times for a single transaction
- The ATM malfunctioned and did not dispense cash
- Your account type includes ATM fee reimbursement benefits
Please note that fees charged by other banks' ATMs are typically non-refundable unless your account includes ATM fee reimbursement.
10. Wire Transfer Fee Refunds
Wire transfer fees may be refunded if:
- The wire transfer failed to complete due to our error
- You were charged for a wire transfer that was never initiated
- Incorrect information you provided is corrected within 24 hours and before processing
Wire transfer fees are non-refundable once the transfer has been successfully completed, even if you later cancel or recall the transfer.
11. Monthly Maintenance Fee Refunds
Monthly maintenance fees may be refunded if:
- You met the fee waiver requirements but were charged in error
- You close your account within 30 days of opening
- You were not properly informed of the fee requirements
- You qualify for a fee waiver based on your account type or relationship
12. Service Fee Refunds
Fees for specific services (such as expedited delivery, copies of documents, etc.) may be refunded if:
- The service was not provided as promised
- There was an error in processing your request
- You cancelled the service request before it was fulfilled
13. Important Limitations
Please note the following important limitations:
- Refund requests must be submitted within 60 days of the transaction date
- We reserve the right to limit the number of courtesy refunds per customer
- Repeated fee waivers may not be granted for recurring issues within your control
- All refund decisions are made at our discretion and are final
- This policy does not limit any rights you may have under applicable law
14. Special Circumstances
14.1 Financial Hardship
If you are experiencing financial hardship, please contact us to discuss your situation. We may be able to:
- Waive certain fees on a case-by-case basis
- Offer a payment plan for outstanding fees
- Provide information about account options with lower fees
14.2 Military Service Members
Active duty military service members may be eligible for special fee considerations under the Servicemembers Civil Relief Act (SCRA). Please contact us for more information.
14.3 Senior Citizens and Students
Certain account types for seniors and students may have special fee structures or waiver provisions. Please review your account agreement or contact us for details.
15. Appeals Process
If your refund request is denied and you believe the decision was incorrect:
- You may submit an appeal within 30 days of the denial
- Provide any additional information or documentation supporting your case
- Your appeal will be reviewed by a supervisor or manager
- You will receive a final decision within 15 business days
Decisions on appeals are final and binding.
16. Prevention Tips
To help avoid unnecessary fees:
- Monitor your account regularly through online banking
- Set up account alerts for low balances and transactions
- Maintain minimum balance requirements for fee waivers
- Use in-network ATMs when possible
- Review your account agreement and fee schedule
- Contact us if you have questions about potential fees
- Link accounts for overdraft protection
17. Changes to This Policy
We reserve the right to modify this Refund Policy at any time. Changes will be effective immediately upon posting on our website. Your continued use of our services after changes are posted constitutes acceptance of the modified policy.
We will make reasonable efforts to notify you of material changes to this policy through:
- Email notification
- Notice in your online banking portal
- Updates on our website
18. Legal Rights
This Refund Policy does not limit any rights you may have under:
- Federal or state banking regulations
- Consumer protection laws
- Your account agreement
- The Electronic Fund Transfer Act
- The Truth in Savings Act
If there is a conflict between this policy and applicable law, the law will prevail.
19. Additional Resources
For more information about fees and our refund policy:
- Review your account agreement and fee schedule
- Visit our FAQ section on the website
- Contact customer service for personalized assistance
- Review our Terms and Conditions
This Refund Policy is part of your agreement with axosba.us.com. By using our services, you acknowledge that you have read, understood, and agree to this Refund Policy.
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