American Express Expands Banking Offerings for Businesses

American Express has launched a new high-yield savings account designed for businesses. The American Express Business Savings account aims to help companies earn more on their deposits and manage finances in one place.

The company plans to introduce a feature later this year that will allow Graphite Business Cash Unlimited Card Members to redeem Reward Dollars for deposits into their American Express Business Checking accounts.

American Express is also developing a payroll solution powered by Gusto, which will offer AI-powered insights. The new features are part of the company's strategy to expand its Amex Business Membership with integrated financial solutions that deliver more value and help businesses operate efficiently.