AmEx Debuts First Checking Account in Push Beyond Business Cards
- Offering comes with an annual percentage yield of 1.1%
- It’s ‘an opportunity for us to broaden our reach,’ Marrs says
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American Express Co. debuted its first-ever checking account as the card giant hopes to win over more U.S. small businesses.
The firm’s new checking account -- which comes with an annual percentage yield of 1.1% -- will target small enterprises across the U.S., AmEx said in a statement Monday. The firm also will begin offering as much as $150,000 in lines of credit to existing customers.