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American Express® Business Checking Account Review

Reviews 4,068
American Express Business Checking
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American Express Business Checking
American Express Business Checking
Reviews 4,068
Sean Lapointe
Jan. 24, 2024
5 min read
American Express Business Checking Summary
Founded in 1850, American Express is a U.S. financial services powerhouse whose products include bank accounts, credit cards, and loans. Its business checking account primarily targets small businesses and stands out for its zero monthly maintenance fee and a 1.30% annual percentage yield (APY) on the first $500,000 of your account balance. Members also enjoy the convenience of 24/7 live support and access to a large network of fee-free ATMs.


  • No monthly maintenance fee
  • 1.30% Annual Percentage Yield on the first $500,000
  • Extensive ATM network
  • 24/7 customer support


  • No cash deposits
  • No physical branches
  • Foreign transaction fee

American Express Business Checking at a glance

Editorial score


No opening fees or monthly fees.


FDIC-insured, SSL-encrypted account; biometric and two-factor authentication options available.

Customer service

24/7 support on the phone and via live chat, plus a dedicated fraud team.

Online experience

User-friendly online platform; all banking functions available online and on the app; all rates and services transparent before applying.

Mobile experience

Mobile app available for iOS and Android. All banking features are available, including account balances, online transfers, and depositing mobile checks.

American Express Business Checking American Express Business Checking Visit Site

Advantages Over Traditional Banks

By operating without physical branches, American Express saves on overheads, passing these savings on to its customers through lower fees and other financial benefits. For example, the American Express® Business Checking account has no monthly service charges or minimum balance requirements.

Moreover, the account allows you to earn interest on your balance, a feature not commonly found in standard business checking accounts. This offer adds an extra layer of value—instead of your funds sitting idly in your account, they’ll be actively earning interest and contributing to your business's financial growth.

Cutting-Edge Banking Services

American Express is an online-only bank, allowing access to your account and all the features and services that come with it at any time, anywhere. You can manage your American Express® Business Checking account on your desktop or through the American Express Business Blueprint™ app.

Both platforms provide access to a suite of banking services, including but not limited to:

  • Checking account balances
  • Making mobile deposits
  • Transferring funds into and out of your account
  • Scheduling recurring as well as future-date payments
  • Contacting customer support
  • Getting personalized cash flow insights
  • Adding and managing credit cards
  • Accounting via third-party software like QuickBooks

Traditional Banking Services

Besides checking accounts, American Express offers several other business banking products, including lines of credit and credit cards. It also provides retail banking products like credit cards, personal loans, checking, and high-yield savings accounts.

Each business checking account comes with an American Express® Business Debit Card for online and in-person purchases. You can also add the card to your digital wallet to pay with your device at participating retailers.

Every $2 spent on eligible purchases with the card earns you one Membership Rewards® point, which you can redeem for perks like travel, cash, and gift cards.

You can use your card to make fee-free withdrawals from any of the 37,000 MoneyPass ATMs. Withdrawals outside the MoneyPass network may be subject to charges by the ATM owner or operator.

As with traditional banks, fund availability varies depending on the method of deposit. Money from the following deposits is available for withdrawal on the same day:

  • Electronic direct deposits initiated by third parties (i.e., not by or through American Express)
  • Incoming wire transfers received by 6pm ET on a business day
  • Electronic funds transfers (EFTs) from another of your accounts at American Express National Bank

Most other deposits are available for withdrawal no later than the fifth business day. In some cases, the bank may delay your ability to withdraw funds for longer. But it will notify you and provide an explanation as well as advice on how to expedite access.

Unlike traditional banks, however, the American Express® Business Checking account doesn't allow physical cash deposits. As a result, it might not be suitable for certain types of businesses, such as those that primarily receive cash payments. It also might not be the best option if you prefer banking in person.

Interest Rates and Fees

American Express doesn’t have any monthly maintenance fees and is also light on other common fees. There are no charges for domestic incoming Automated Clearing House (ACH) and wire transfers, processing services (such as account opening, stop payment requests, and billing inquiries), eChecks, and ATM withdrawals within the MoneyPass network.

There is a fee of 2.7% for foreign transactions, however.

At the time of writing, the American Express® Business Checking account offers 1.30% Annual Percentage Yield on balances of up to $500,000. To put this into perspective, maintaining an average balance of $300,000 in your account could yield a potential annual return of $3,923. Similarly, a balance of $500,000 could generate around $6,539 in interest per year.

While you can get a higher Annual Percentage Yield elsewhere for this type of account, the maximum amount for which you can earn interest is likely to be lower than American Express’ limit of $500,000.



Annual Percentage Yield


Minimum account balance


Account opening


Monthly service


Domestic ACH

Incoming: None

Same-day outgoing: $10

Domestic wire

Incoming: None

Outgoing: $25

International ACH (incoming)


ATM withdrawals

None at MoneyPass ATMs

Foreign transactions 

2.7% of transaction amount

Customer Service and Online Experience

American Express provides 24/7 customer support on the phone at 855-497-1040 and through online chat. Additionally, you can contact the company by mail using the following postal address:

American Express National Bank

P.O. Box 30384

Salt Lake City, Utah 84130

The American Express website also offers many useful resources—including FAQs, guides, and blog articles—designed to help you navigate the bank's services and manage your finances more effectively.

The design of its online platform makes it easy to use, with a clear layout and intuitive navigation. You can open an account in as little as 10 minutes. The bank requires you to provide the following information when applying, so make sure to have it on hand for a faster process.

  • Employee identification number (EIN) or taxpayer identification number (TIN)
  • Business address
  • Business size, industry, and purpose of account
  • Social Security number (SSN) and ID verification for all beneficial owners with ownership of 25% and above
  • Article of organization or certificate of formation
  • Driver’s license, passport, or state ID for each owner

Online customer reviews paint a mixed picture of the overall quality of the bank’s customer service. While some users report having a great all-around experience, there’s a notable number of incidents where customers either had a long wait on the phone or their queries or concerns were not addressed. 

Additionally, there are reports of language barriers and miscommunication issues.

Mobile App

American Express offers a mobile app called the American Express Business Blueprint™. The app lets you view and manage all your American Express business products—including checking accounts, credit cards, and lines of credit—from one place.

The app, which is available for iOS and Android devices, offers a variety of features, including creating and scheduling payments, depositing mobile checks, and transferring funds into and out of your account.

The iOS version enjoys a high rating of 4.8 out of five stars in the App Store, with multiple users praising its overall functionality and ease of use.

In contrast, the Android version has a rating of only 3.1 stars out of five on Google Play. Users complain of multiple issues with the app, including problems logging into their accounts and error messages when trying to perform tasks like depositing a check or linking a card.


American Express offers its business checking account through the American Express National Bank, which is insured by the Federal Deposit Insurance Corp. (FDIC). Any funds you deposit with the bank are therefore protected up to at least $250,000.

American Express uses 128-bit Secure Sockets Layer (SSL) technology to safeguard your online transactions. This measure means that hackers won’t be able to read or intercept any data transferred between you and the bank.

In addition, the online platform and mobile app offer two-factor authentication. There are further biometric authentication options available on the app, including facial recognition and fingerprint scanning. 

American Express monitors your account for suspicious activity and will alert you via text or email if it sees anything unusual. For added safety, the bank also automatically logs you off your online account after 10 minutes of inactivity.

In case of fraud concerns, you can contact its dedicated fraud team 24/7 at 800-528-4800 (toll-free) or via live chat inside your account. 

American Express also has a Fraud Protection Guarantee. Under this policy, you won't be liable for any unauthorized charges if you've taken reasonable care to keep your account safe.


The American Express® Business Checking account presents a versatile banking option for modern small businesses. The account has no monthly maintenance fees or minimum balance requirements. Additionally, it provides an opportunity to earn a competitive Annual Percentage Yield rate of 1.30% on balances up to $500,000.

Your deposits with American Express are protected up to at least $250,000, thanks to FDIC insurance. The bank also grants access to a broad network of over 37,000 fee-free ATMs, ensuring convenient cash withdrawals whenever necessary.

Customer support is available 24/7 on the phone and through live chat for any inquiries or assistance.


The information used to create this review was gathered from the American Express website and reviews on Trustpilot, the App Store, and Google Play.

Written by
Sean Lapointe
Sean LaPointe is a freelance personal finance writer with a passion for helping readers make informed financial decisions. With over 8 years of personal finance writing experience, Sean has written for a wide variety of top publications, including The Motley Fool, Angi,, and BestMoney. Sean’s commitment to providing readers with the most up-to-date information means he’s always researching the latest financial products.
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Trustpilot reviews
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Bad • Reviews 4,068
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1 day ago
excellent customer service
Can’t understand the reviews here. Had nothing put excellent customer service with American Express. Calls and online chat services answered almost immediately. Always get through to someone who can help first time too - no passing around like every other company seems to do. Also resolve disputes with no fuss - had a charge back completed within 48 hours of raising my complaint!!
Fausto Guidolin
1 day ago
American express verde. OK
Utilizzo American Express verde per la mia attività, tutto perfetto. Ok per rifornimento carburante, On-line e alcuni supermercati. Servizio assistenza buono.
2 days ago
Quality card with quality support and decent cashback offer.
Have the platinum cashback with annual fee card, have had it since around 2018, every summer I get a decent 'discount' off my statement with the cahsback rebate, chargeback has been used once on a non-communicative company, but elsewhere the threat of it gets results. Only complaint, and it is only the one, is that direct debits are taken about a week before the amount is due.
Mo Saik
6 days ago
Kompetent und höflich
Habe soeben wegen eines Betrugversuches (Phishing) mit der Hotline telefoniert und war regelrecht begeistert von den beiden Mitarbeitern. Der Herr mit dem ich am Anfang gesprochen habe war sehr höflich und kompetent, hat mich aber extra nochmal mit der Abt. Online-Sicherheit verbunden. Auch die Dame dort war sehr kompetent und vorallem freundlich. Meine letzten Buchungen wurden gegengeprüft und die Karte wurde sofort gesperrt. Ersatz bekomme ich innerhalb der nächsten Tage kostenlos zugesendet. Ansonsten hatte ich auch nie Probleme mit meiner Amex, aber dieses Erlebnis gerade, wie unglaublich höflich diese beiden am Telefon waren, hat mich jetzt doch tatsächlich dazu bewegt hier mal eine Bewertung abzugeben.
Carmen Souto
1 week ago
Impeccable Service
Every time I have dealt with AMEX, I have found their representative to be pleasant and helpful- impressed by their level of customer service.