New American Express Serve® Prepaid Debit Account Earns Rewards
August 19 2015 - 9:02AM
Business Wire
American Express Serve Cash Back is the Only
Prepaid Debit Account with 1% Cash Back on Purchases1
Available today, American Express (NYSE:AXP) announced Serve
Cash Back, a new prepaid debit Account option that will earn
Accountholders 1% cash back on purchases. Consumers who spend in
line with the 2012 – 2013 U.S. Department of Labor national
averages for gas, groceries, dining out, clothing, transportation
and entertainment using the Serve Cash Back Card could potentially
earn more than $400 annually2 when earning 1% cash back.
“We know consumers are looking to stretch their budgets and get
more from every dollar they spend,” said Stefan Happ, Chief
Commercial Officer, Enterprise Growth, American Express. “With the
American Express Serve Cash Back Card, we are defining a new
standard in the prepaid industry and rewarding our customers where
they’re already spending – on everyday items such as gas, groceries
and clothing.”
Earning cash back will help customers put money aside towards
future purchases. After earning cash back, customers will be able
to log in to their Serve Account, view how much cash back they’ve
earned, and elect to redeem that amount on their next purchase.
In addition to the 1% cash back benefit, customers will enjoy
features of the flagship Serve product, including:
- Free Direct Deposit and the newly added
ability to get your paycheck up to two days before payday3
- Free online bill pay
- Free withdrawals at over 24,000
MoneyPass® ATMs4
- American Express world-class 24/7
service
- Fraud Protection
- Access to Amex Offers (exclusive
discounts from popular merchants)
The Serve Cash Back monthly fee is $5.95. There is no credit
check, no hidden fees and no minimum balance. Customers can learn
more about the Serve family of products, including the American
Express Serve and the new American Express Serve Free Cash Reloads
Card, and find the right product for them at www.serve.com.
About American Express
American Express is a global services company, providing
customers with access to products, insights and experiences that
enrich lives and build business success. Learn more at
americanexpress.com and connect with us on
facebook.com/americanexpress, foursquare.com/americanexpress,
linkedin.com/company/american-express, twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products and services: charge and credit cards,
business credit cards, Plenti rewards program, travel services,
gift cards, prepaid cards, merchant services, corporate card and
business travel
1 Earn 1% Cash Back on purchases (less returns/credits) rounded
to the nearest dollar, added to your Account after you use your
Card. Rounding purchases to the nearest dollar means that you won’t
earn a fraction of a penny in Cash Back. For example, a purchase of
$0.01-$0.49 rounds to $0.00 (you don’t earn Cash Back), a purchase
of $0.50-$0.99 rounds to $1.00 (you earn $0.01 Cash Back), and so
on. The Serve Cash Back Card is the only prepaid Card/account with
1% Cash Back on purchases, not limited to select merchants or
select purchases. Cash Back is typically applied to your
Account promptly after your purchase, but could take up to 60 days.
Cash Back can be redeemed and used only for future purchases made
with your Card and cannot be redeemed for cash or otherwise
exchanged for value. Subaccounts are not eligible to earn Cash
Back. ATM transactions, fees and Serve Online Bill Pay are not
purchases and do not earn Cash Back. For full terms and
restrictions, see the Cash Back User Agreement.
2 Based on average spending estimates: Average annual spending
on gasoline in 2013: $2,418; Average annual spending on groceries
2012-2013: $6,602; Average annual spending on dining out 2012-2013:
$3,977; Average annual spending on apparel and services 2012-2013:
$17,148; Average annual spending on transportation 2012-2013:
$9,004; Average annual spending on entertainment 2012-2013: $2,482
. Total annual spending = $41,631 (Bureau of Labor Statistics US
Department of Labor)
3 Faster access compared to standard payday electronic deposit
and subject to your employer submitting paycheck information to the
bank before payday. Your employer may not submit paycheck
information early.
4 Transactions at non-MoneyPass® ATMs have a $2.50 American
Express Serve fee. ATM operator fees may also apply. See
serve.com/atm for details.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150819005094/en/
Felicia Mowll212.640.1709felicia.a.mowll@aexp.comorKimberly
Litt212.640.0453kimberly.b.litt@aexp.com
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