HomeFinanceAmEx Launches New Rewards Checking Account

AmEx Launches New Rewards Checking Account

American Express® introduced at this time that will probably be launching its first shopper checking account, American Express Rewards Checking. The account comes with a 0.50% Annual Percentage Yield (APY) rate of interest — which is considerably larger than the nationwide common of 0.03% on curiosity checking accounts — and a debit card that prospects can use to earn one rewards level for each $2 spent with the cardboard on eligible purchases. Eligible purchases embrace most transactions, however don’t embrace purchases which are a money equal, resembling buying a present card. The rewards could be redeemed for deposits into your Amex Rewards Checking account. (Terms apply.)

The account is on the market now to prospects who’re present American Express shopper bank card holders.

Other advantages embrace no month-to-month upkeep charges and no minimal stability necessities, and no minimal stability to open the account. American Express received’t cost overdraft or nonsufficient fund charges on this account; prospects will as a substitute have a transaction declined if it might result in an overdraft.

Customers can have entry to greater than 37,000 fee-free MoneyPass ATMs nationwide from which they’ll withdraw money, and American Express service representatives can be found 24/7 through cellphone and chat to help prospects.

“Our members keep telling us they want more from us, and this new account will give them the option to have all of the great value and benefits that set our accounts and services apart,” says Liz Bergman, vp of Digital Checking and Debit Product Management at American Express.

The new account can even be built-in with AmEx’s current cell app, says Bergman, and prospects will be capable of make cell verify deposits, ship cash and use different on-line companies by way of the app.

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