Amex Expands Business Banking with High-Yield Savings Account
American Express is expanding its banking offerings for businesses with the introduction of a new high-yield savings account. The American Express Business Savings account offers a competitive Annual Percentage Yield (APY) of 2.95% with no minimum balance requirements or monthly maintenance fees.
The account allows for easy transfers online or through the Amex app, including ACH, wire transfers, and check deposits at no additional cost; same-day ACH for a low $10 fee is also available. The savings account integrates with accounting software and bank linkages to simplify money movement, saving time and keeping financials up to date.
American Express National Bank is the deposit accounts provider, which is Member FDIC. Eligible customers can earn 35,000 Membership Rewards points after completing qualifying activities when opening a new Business Checking account with a Welcome Offer.