American Express® Launches New Fully Digital Business Checking Account for U.S. Small and Mid-Sized Businesses, with First-Ever Amex-Issued Debit Card
- Earn $300 deposit as a welcome bonus1 with a new Business
- Earn interest on balances up to $500,000 with a competitive APY
- No monthly maintenance fees or minimum balance requirement
- Full-service digital banking that makes it easy to access and
manage your checking account, while also connecting to existing
American Express Cards
American Express® (NYSE: AXP), the leading small business Card
issuer in the U.S.3, today introduced its new Business Checking
account designed for small and mid-sized (SME) businesses. This
fully digital Business Checking account offers a secure,
high-yield, and low fee digital banking experience with a
competitive APY of 1.1% on balances up to $500,0002. The checking
account connects with existing American Express Credit Cards and
comes with a Business Debit Card, the first to be issued in the
U.S. by American Express.
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the full release here:
American Express® Business Checking
Mobile (Graphic: Business Wire)
“We built the new American Express Business Checking from the
ground up because businesses told us they want more from their
existing checking account. It’s a customer first, full-service
digital business checking account that makes cash management easy,
processes a range of payment types and earns high-yield interest on
balances up to $500,000. Plus, customers will soon be able to earn
and redeem Membership Rewards® points,” said Dean Henry, Executive
Vice President of Global Commercial Services at American Express.
“This is business checking with the best of American Express –
security, service and rewards they can invest back into their
In early 2022, Business Checking customers will be able to earn
Membership Rewards® points and redeem them for deposits into their
Business Checking account4.
The announcement further expands American Express’ small
business offerings within and beyond the Card, building on its
acquisition of Kabbage, a FinTech providing small business cash
U.S. small and mid-sized businesses can now apply for the new
Business Checking account in as little as 10 minutes and, if
approved, receive all the initial features listed below:
- Welcome Bonus: New Business Checking customers will earn
a $300 deposit as a welcome bonus1.
- Competitive APY: Benefit from high-yield APY of 1.1% on
balances up to $500,0002.
- No Monthly fees: Enjoy $0 monthly maintenance fee and no
minimum balance requirement.
- ATM Access via Moneypass: American Express has also
partnered with MoneyPass® to offer a network of 37,000
fee-free ATMs to Business Checking customers for ATM cash
withdrawals and balance inquiries.
- Supports multiple transaction types: Access a full suite
of payment options to receive and transfer funds including Debit
Card, Bill Pay, ACH, Wire transfers and Check.
- Connected Membership Features: View your existing
American Express Cards and your Business Checking account all in
one place. Starting in 2022, Business Checking customers will be
able to earn Membership Rewards points and redeem them for deposits
into their Business Checking account4.
- Fast onboarding process: Apply and get a decision in as
little as 10 minutes – all without needing to step foot into a bank
- Simple and intuitive app functionality: Manage your
account via a full-feature, one-stop iOS app, including mobile
check deposit capability.
- View-based access: Provide members on your team with
access to view your Business Checking account. Additional
role-based functionalities to come in 2022.
- Trusted customer service: Access to 24/7 support and
American Express specialists, just a call or click away.
To learn more about American Express Business Checking or to
apply, visit americanexpress.com/en-us/business/checking.
ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments 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
Key links to products, services and corporate responsibility
information: personal cards, business cards, travel services, gift
cards, prepaid cards, merchant services, Accertify, Kabbage, Resy,
corporate card, business travel, diversity and inclusion, corporate
responsibility and Environmental, Social, and Governance
Source: American Express Company
Location: U.S. ___________________________ 1 Upon completing
qualifying activities 2 APY and cap subject to change 3 Nilson
Report for non-American Express purchase volume in 2020; American
Express based on internal data 4 Details about important redemption
limitations and other terms coming soon
version on businesswire.com: https://www.businesswire.com/news/home/20211028005659/en/
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