NEW YORK — American Express has launched American Express Rewards Checking, the company’s first all-digital consumer checking account, currently available for eligible U.S. Consumer Card Members.
Amex Rewards Checking offers a range of benefits, including Membership Rewards points for eligible Debit Card purchases, an annual percentage yield (APY) rate that is 10 times higher than the national rate and Purchase Protection for eligible purchases, all with no monthly maintenance fees or minimums and world-class customer service.
“Our Members want more banking products and services from us,” said Eva Reda, Executive Vice President and General Manager, Consumer Banking, American Express. “And they want more from their checking account, without giving up the benefits that are important to them. That’s why we built Amex Rewards Checking to deliver more value for Members with the powerful and trusted backing of American Express. It’s digital checking without compromises.”
Amex Rewards Checking features a highly competitive APY of 0.50% and comes with a Debit Card, which earns Members 1 Membership Rewards point for every $2 spent on eligible purchases, which can be redeemed for deposits into your Amex Rewards Checking account3 and is contactless-enabled for tap-and-go payments at participating merchants. Members can access and manage their checking accounts on the American Express App and can deposit checks via the app for easy account funding.
This new checking account adds to the company’s existing consumer deposits products, such as the American Express Savings account (HYSA) and Certificate of Deposits (CDs).
American Express Rewards Checking features include:
- 0.50% high-yield APY on the entire checking account balance, which is 10x higher than the national rate
- Earn 1 Membership Rewards point for every $2 spent on eligible Debit Card purchases which can be redeemed for deposits into your Amex Rewards Checking Account
- No monthly maintenance fees or minimum balance fees
- Purchase Protection on eligible American Express Debit Card purchases covering accidental damage or theft
- Backed by American Express world-class service, customers will be able to access a team of customer care providers 24/7, via phone or chat
- Fraud Protection and Monitoring
- Simple and efficient banking through the award-winning American Express App
- Fee-free ATM withdrawals with their Debit Card at 37,000 MoneyPass ATM locations nationwide
