American Express Launches Small Business Checking Account and Debit Card

digital business checking account

American Express, a leading card issuer for small businesses in the US, has launched a new fully digital Business Checking account for small businesses.

The Business Checking account offers small businesses a secure, high-yield and low fee digital banking experience. It comes with an annual percentage yield (APY) of 1.1% on balances up to $500,000.

The new Business Checking account connects with existing American Express Credit Cards. Businesses are also issued with a Business Debit Card.

American Express Launches Small Business Checking Account and Debit Card

Accounts dedicated to businesses like American Express’s new Business Checking account can help small businesses look and operate at a more professional level. Digitalizing such accounts go one step further, by simplifying and streamlining cash management.

Earning high-yield interest rates is also favorable at a time when many small businesses are still feeling the pinch of the pandemic.

Customer-First, Full Service Digital Business Account

Dean Henry, Executive Vice President of Global Commercial Services at American Express, commented on the launch of the new fully digital Business Checking account for small businesses in the US:

“We built the new American Express Business Checking from the ground up because businesses told us they want more from their existing checking account. It’s a customer first, full-service digital business checking account that makes cash management easy, processes a range of payment types and earns high-yield interest on balances up to $500,000. Plus, customers will soon be able to earn and redeem Membership Rewards points.

“This is business checking with the best of American Express – security, service and rewards they can invest back into their business,” Henry continued.

Membership Reward Points

As of early 2022, Business Checking customers will be able to earn Membership Rewards points. They will be able to redeem them for deposits into their Business Checking account.

Another benefit small businesses can enjoy with the new Business Checking account includes earning a $300 deposit as a welcome bonus. Account holders will not have to may any monthly fees and there are no minimum balance requirements.

Furthermore, small businesses with Business Checking accounts will have access to a network of 37,000 fee-free ATMs, as American Express partnered with MoneyPass to offer such a privilege.

Customer will also have access to a full-feature, one-stop app that includes mobile check deposit capability.

Having access to digital business checking accounts that come with a number of benefits and trusted customer service support can prove an invaluable asset to small businesses, freeing up their time from banking commitments so they can get on with running their business.

Image: American Express

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Gabrielle Pickard-Whitehead Gabrielle Pickard-Whitehead is a professional freelance writer and journalist based in the United Kingdom. Since 2006, Gabrielle has been writing articles, blogs and news pieces for a diverse range of publications and sites. You can read "Gabrielle’s blog here.".

One Reaction
  1. Hello Gabrielle,

    Thanks a lot for sharing this vital information.

    This is a golden opportunity for small businesses.

    Keep it up.

    – Emmanuel