Digital Banking

American Express intros digital checking account

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February 22, 2022

American Express recently launched its American Express Rewards Checking account, a digital checking account available for all U.S. consumer card members. The account offers membership rewards points for eligible purchase, an annual percentage yield rate of 0.50% and no monthly maintenance fees or minimums, according to a press release.

The account comes with a debit card, which customers can use to get a point for every $2 spent on eligible purchases, which can then be redeemed for deposits or contactless tap-and-go payments at participating merchants. Customers can also access this account via the American Express App and deposit checks directly on the app.

"Our Members want more banking products and services from us," Eva Reda, EVP and general manager, consumer banking, American Express, said in the release. "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."