American Express® Business Checking: A High-Yield Account With 24/7 Customer Support
This American Express account has no monthly fee and offers one of the best interest rates for business checking accounts.
Overview
The bottom line:
The American Express Business Checking account checks a lot of boxes, with no monthly or incidental fees and a competitive APY. Its only major drawback is not supporting cash deposits.
Bank account details
Monthly fee
$0
APY
1.30%
Earn 1.30% APY (annual percentage yield) on balances up to $500,000 as of 10/12/2022.
With $0 min. balance for APY
Bonus
30,000 points
Earn 30,000 Membership Rewards® points. Convert Membership Rewards® points into deposits directly into your American Express® Business Checking account. Other redemption options available. Terms apply.
1) Deposit a total of $5,000 or more in eligible deposits within 30 days of opening your first account, AND
▪ Eligible deposits are any deposits except deposits using our Redeem for Deposits feature, deposits from interest payments, and deposits from any other American Express Business Checking accounts.
2) Maintain an average account balance of $5,000 for the next 60 days,
AND
3) Make 5 or more qualifying transactions within 60 days of opening your account
▪ Qualifying transactions are mobile deposits, check deposits by mail, and electronic/online transactions including ACH, Wire, and Bill Payments. Business Debit Card transactions and deposits using our Redeem for Deposits feature are not qualifying transactions.
Requirements to qualify
Pros & Cons
Pros
No monthly fees or minimum opening deposit.
No excess transaction fees and no charge for domestic incoming wires.
Earn 1.30% APY on balances up to $500,000.
24/7 customer support.
No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
Can’t deposit cash.
No outgoing international wire transfers.
Does not offer jointly owned accounts.
Bank account comparison
Compare to other bank accounts
5.0
NerdWallet rating
at American Express National Bank (Business), Member FDIC
4.8
NerdWallet rating
5.0
NerdWallet rating
4.8
NerdWallet rating
Monthly fee
$0
Monthly fee
$0
Monthly fee
$0
Monthly fee
$10.00
Waived with $500 minimum balance APY
1.30%
With $0 min. balance for APY APY
1.55%
With $25,000 min. balance for APY APY
1.30%
With $0 min. balance for APY APY
1.00%
With $0 min. balance for APY
Need more options? Check our picks for best business bank accounts of 2025
American Express launched its fully digital American Express Business Checking account in October 2021, bringing a household name to a space filled with lesser-known banks and fintech companies.
The free business checking account online business accounts
Account holders can deposit funds via mobile check deposit, ACH and wire transfers, and they can withdraw funds from more than 70,000 MoneyPass and Allpoint ATMs in the U.S. free of charge. But you can't deposit cash and you may incur fees from the ATM owner when using out-of-network ATMs.
American Express Business Checking is best for small-business owners who:
- Want a business checking account that earns interest.
- Don't deal in cash.
- Value a highly rated app and 24/7 customer support.
- Will take advantage of AmEx Membership Rewards points.
Who should consider an alternative to American Express?
Businesses that deal in cash. LendingClub Tailored Business Checking
Business owners who want the highest interest rate. Bluevine business checking
American Express business banking at a glance
| American Express Business Checking | |
|---|---|
| Monthly fee: | $0. |
| Minimum opening deposit: | $0. |
| APY: | 1.30% on balances up to $500,000. |
| Transactions: | Unlimited. |
| Cash deposits: | Not supported. |
| Bonus: | Earn 30,000 Membership Rewards® points. Convert Membership Rewards® points into deposits directly into your American Express® Business Checking account. Other redemption options available. Terms apply.
1) Deposit a total of $5,000 or more in eligible deposits within 30 days of opening your first account, AND
▪ Eligible deposits are any deposits except deposits using our Redeem for Deposits feature, deposits from interest payments, and deposits from any other American Express Business Checking accounts.
2) Maintain an average account balance of $5,000 for the next 60 days,
AND
3) Make 5 or more qualifying transactions within 60 days of opening your account
▪ Qualifying transactions are mobile deposits, check deposits by mail, and electronic/online transactions including ACH, Wire, and Bill Payments. Business Debit Card transactions and deposits using our Redeem for Deposits feature are not qualifying transactions. |
How to open an American Express Business Checking account
Opening an American Express business checking account
What you need to open an account
American Express asks for the following information from those applying for a business account:
- Business name, legal structure and industry.
- Annual revenue.
- Personal name, address, date of birth.
- Social Security number and U.S. government-issued photo identification for each beneficial owner (more than 25% stake in the business).
You also need to upload certain business documents with your application, depending on your business entity type, including articles of incorporation, certificate of formation or a DBA
American Express Business Checking welcome offer
New American Express Business Checking customers can net the following welcome offer:Earn 30,000 Membership Rewards® points. Convert Membership Rewards® points into deposits directly into your American Express® Business Checking account. Other redemption options available. Terms apply.
1) Deposit a total of $5,000 or more in eligible deposits within 30 days of opening your first account, AND
▪ Eligible deposits are any deposits except deposits using our Redeem for Deposits feature, deposits from interest payments, and deposits from any other American Express Business Checking accounts.
2) Maintain an average account balance of $5,000 for the next 60 days,
AND
3) Make 5 or more qualifying transactions within 60 days of opening your account
▪ Qualifying transactions are mobile deposits, check deposits by mail, and electronic/online transactions including ACH, Wire, and Bill Payments. Business Debit Card transactions and deposits using our Redeem for Deposits feature are not qualifying transactions.
To earn the welcome bonus, you need to meet each of the following requirements:
- Deposit a total of $5,000 or more within 30 days of account opening. Eligible deposits are any deposits except those using the Redeem for Deposits feature, deposits from interest payments, and deposits from any other American Express® Business Checking accounts.
- Once you meet the deposit requirement, you must maintain an average balance of $5,000 for the next 60 days.
- Complete at least five transactions within 60 days of account opening. Qualifying transactions include mobile deposits, check deposits by mail and electronic transactions including ACH transfers, wire transfers and bill payments. Business debit card transactions and deposits using the Redeem for Deposits feature are not qualifying transactions.
Where American Express Business Checking stands out
No fees: The American Express Business Checking account has no monthly fee and very few incidental fees. Customers do not pay fees for stop payment requests or e-checking. Incoming wire transfers, domestic and international, are also free. Outgoing domestic wire transfers are $25 each.
High APY: American Express offers a solid interest rate for a business checking account (1.30% APY). It also has a higher ceiling than other high-yield business accounts, allowing customers to earn interest on balances up to $500,000. Just keep in mind that American Express accounts are only insured for up the standard $250,000 by the Federal Deposit Insurance Corp.
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If you want to earn even more interest and don't need access to features like checks or a debit card, consider a Nerdy Tip
24/7 customer support: American Express offers customer support online, by phone and via the app 24 hours a day, seven days a week — a feature rarely found with business accounts, even online business accounts.
AmEx Membership Rewards: In addition to the welcome bonus, American Express Business Checking customers can earn 1 Membership Reward point for every $2 spent on eligible business debit card purchases. If you already earn AmEx Membership Rewards business credit cards
Note: AmEx business debit cards are capped to $5,000 in purchases and $1,000 in cash withdrawals per day. These limits reset at 3 a.m. EST each day.
Where American Express Business Checking falls short
Can’t deposit cash: American Express Business Checking does not allow cash deposits. You can only add funds via ACH or wire transfer, or via mobile check deposit (on iPhones only, more on that below). Businesses that deal with cash on a regular basis should look for a business bank account LendingClub Tailored Checking
No jointly owned accounts: If your business has multiple owners and you want equal control over your business checking account, look elsewhere — AmEx doesn't offer jointly owned accounts. Consider Relay
No employee debit cards: AmEx only issues one debit card per account, which means you can't hand additional debit cards to your co-owners or employees. If your business needs employee debit cards, try the nbkc Business Account
Note on American Express® Business Checking : At Allpoint® and MoneyPass® locations in the U.S., you can withdraw cash and get balance information with no fee. Access to ATMs outside of the Allpoint® and MoneyPass® networks are subject to fees by the ATM owner and/or network. ATM withdrawal limits apply. American Express applies foreign exchange fees to withdrawals in foreign currencies. American Express does not accept ATM cash deposits into your Business Checking account at this time. Visit americanexpress.com/atm-locator to find participating ATMs in the U.S.
All information about the American Express® Business Checking has been collected independently by NerdWallet and has not been reviewed or provided by the issuer or provider of this product or service.