Amex Deepens Business Banking with High-Yield Savings Account and Payroll Solution

American Express is expanding its business banking services by launching a high-yield Business Savings account that offers an APY of 2.95%.

The new savings account does not require a minimum balance or charge a monthly maintenance fee, allowing businesses to manage their finances with ease.

Additionally, American Express is introducing a Gusto-powered payroll solution later this year, which will provide AI-driven insights on payroll and help customers enroll, manage, and run payroll within the Business Checking account.