Business Checking and Business Savings come together under American Express® Business Banking, with a new payroll solution and integration with Amex Business Cards coming soon
American Express announced the launch of the new high-yield American Express® Business Savings account, designed to help businesses earn more on their deposits and manage more of their finances in one place. Later this year, the company will introduce a new way for Graphite™ Business Cash Unlimited Card Members to redeem Reward Dollars for deposits into their American Express® Business Checking accounts, followed by a new payroll solution powered by Gusto with AI-powered insights coming early next year. These updates build on the company’s strategy to expand Amex Business Membership with integrated financial solutions that deliver more value and help businesses operate more efficiently.
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Business Checking and Business Savings will now come together under American Express® Business Banking, creating a more connected banking experience for businesses. Customers can apply for Business Checking, Business Savings, or both through one application and manage their banking alongside their American Express Card products online or in the Amex® App.
With high-yield savings, no monthly maintenance fees, and the ability to move money seamlessly, Amex Business Banking helps businesses manage their cash flow with confidence.
“Businesses are looking for more value from their banking services, including competitive returns and simple tools that help them automate processes and fit seamlessly into how they operate,” said Eva Reda, Executive Vice President of Global Commercial Services at American Express. “With Amex Business Banking, businesses now have banking tools that make it easy and rewarding to manage their finances, all in one place.”
American Express® Business Savings
In a recent Amex Trendex survey1, 82% of businesses agree that their business’ excess cash could be put to better use in a savings account. Available today, American Express® Business Savings helps businesses put idle cash to work with competitive returns and straightforward value. The account offers:
- A high Annual Percentage Yield (APY) of 2.95%2, with no minimum balance requirements or monthly maintenance fees
- The ability to make and receive transfers online or through the Amex® app, including ACH, wire transfers, and check deposits at no additional cost; or same day ACH for a low $10 fee3
- Instant transfers to and from an American Express® Business Checking account with no transfer fee
- Integration with accounting software and bank linkages that make it easier to move money, save time, and keep financials up to date
- 24/7 support backed by American Express service
Today, customers have the option to apply for American Express® Business Checking and American Express® Business Savings together in one simple application. Customers who open a new Business Checking account may be eligible for a Welcome Offer of 35,000 Membership Rewards® points after completing qualifying activities. Terms Apply.
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