American Express launches U.S. business checking account, issues debit card

Oct. 28, 2021 10:36 AM ETAmerican Express Company (AXP)By: Max Gottlich, SA News Editor3 Comments

American Express Card

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  • American Express (NYSE:AXP) expands its small business offerings as the company introduces a new digital business checking account designed for small and mid-sized businesses.
  • The account offers a secure, high-yield and low fee digital banking experience with an annual percentage yield of 1.1% on balances to $500K, the company says.
  • The checking accounts connect with existing Amex credit cards, and comes with a business debit card, the first to be issued in the U.S. by the company.
  • Business checking customers will be able to earn membership reward points and redeem them for deposits into their account by early 2022.
  • U.S. small and mid-sized business can now apply for the checking account, and if approved, they will receive features including support of multiple transaction types and no monthly fees.
  • Previously, (Oct. 14) American Express launches new U.S. business platinum card.

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