American Express Turns to Checking Accounts in Push for Gen Z Customers
- Checking account will pay 0.5% annual percentage yield
- Company has been seeking to appeal to younger generations
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American Express Co. will begin offering checking accounts to consumers with its credit cards as the company seeks to broaden its appeal to younger generations.
The checking account will come with an annual percentage yield of 0.5% and a debit card that offers rewards tied to spending, AmEx said Tuesday in a statement. The country’s largest banks typically offer interest rates of 0.01%.