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American Express Business Checking Review
Our take: Interest on balances up to $500,000 with no activity rules, no monthly fee and 24/7 support. No cash deposits.
Pros
- Interest on up to $500,000 with no activity rules
- No monthly fee or minimum
- 24/7 support from a chartered bank
Cons
- No cash deposits
- $25 outgoing wires
- No interest on balances above $500,000
Key facts
- Cash deposits
- Not accepted
- ATMs
- Fee free at 70,000+ Allpoint and MoneyPass ATMs
- Same day ACH
- $10
- Minimum to open
- $0
- Monthly fee
- No monthly fee
- ATM access
- 70,000+ fee free ATMs
- Current offer
- 35,000 Membership Rewards points after $5,000 in eligible deposits within 30 days, a $5,000 average balance for 60 days and 5 qualifying transactions
- Insurance
- FDIC insured up to $250,000 per depositor, per ownership category
- FDIC certificate
- 27471 (American Express National Bank, Sandy, UT)
- Who can open
- Eligible US businesses; some industries excluded
- Mobile app
- Amex app: 4.9 on the App Store, 4.8 on Google Play (Sep 28, 2026)
- Customer service
- 24/7
Source: American Express website, checked Oct 26, 2026. Insurance details from the FDIC BankFind database.
American Express Business Checking pays 1.00% APY on balances up to $500,000, with no monthly fee, no minimum balance and no activity rules to earn interest. You earn 1 Membership Rewards point for every $2 spent on eligible debit card purchases, and new accounts can earn 35,000 points after meeting deposit and balance rules. Rate checked on Amex’s website on Oct 26, 2026.
Our verdict
Amex Business Checking is a strong pick if you keep a large balance and want interest without hoops. It is held at American Express National Bank and comes with 24/7 support from business banking specialists. It is less suited to businesses that handle cash, since Amex does not list cash deposits among its deposit options.
Key features
| Feature | Details |
|---|---|
| Monthly fee | None |
| Minimum balance | None |
| APY | 1.00% on balances up to $500,000 |
| Rewards | 1 Membership Rewards point per $2 on eligible debit card purchases |
| ATMs | Fee free withdrawals at 70,000+ Allpoint and MoneyPass ATMs |
| Ways to move money | ACH, same day ACH, wires, Zelle, bill pay and mobile check deposit |
| Funding | Fund within 120 days of opening to keep the account open |
Terms from American Express’s business banking page, checked October 16, 2026. The page does not show an as of date for the APY; rates are variable.
The 35,000 point welcome offer
To earn 35,000 Membership Rewards points, Amex says you must deposit a total of $5,000 or more in eligible deposits within 30 days of opening your first account, keep an average balance of $5,000 for the next 60 days, and make 5 or more qualifying transactions within 60 days of opening. Qualifying transactions include mobile deposits, checks by mail, ACH, wires and bill payments; debit card purchases, Zelle and transfers between your own Amex accounts do not count. The page did not list an end date when we checked.
Business Checking or Business Savings?
American Express also offers Business Savings at 3.15% APY as of our Oct 23, 2026 check. Checking pays 1.00% APY on balances up to $500,000 and earns Membership Rewards points on debit card spending. A common setup is to run day to day payments through checking and keep cash reserves in savings, where the rate is about three times higher.
| Business Checking | Business Savings | |
|---|---|---|
| APY | 1.00% on balances up to $500,000 | 3.15% |
| Monthly fee | $0 | $0 |
| Rewards | 1 Membership Rewards point per $2 on eligible debit purchases | None |
| Support | 24/7 | 24/7 |
From American Express’s business banking page, checked Oct 23, 2026. Rates are variable.
Compare other options on our best business checking accounts page.
Who it is best for
- Businesses with large balances that want interest with no monthly rules
- Amex cardholders who already collect Membership Rewards points
- Owners who want phone support at any hour
Who should look elsewhere
- Businesses that deposit cash; see Axos Basic Business Checking
- Teams that want many sub accounts; see Relay
- Freelancers who want bookkeeping and tax tools built in; see Found
Compare every account on our best business checking accounts page.
Is it safe?
Deposits are held at American Express National Bank in Sandy, Utah, FDIC insured under certificate 27471, which we confirmed in the FDIC BankFind database on Oct 15, 2026. Coverage is up to $250,000 per depositor, per ownership category.
How we rated it
It scores well on interest, fees and support, and loses points for the lack of cash deposits and a balance cap on interest. It scores 4.2 out of 5 on our scorecard for this category. See how we score on the comparison page and our methodology.
How American Express compares
| Account | Rating | Monthly fee | APY |
|---|---|---|---|
| Axos Basic Business Checking | 4.4 | $0 | None |
| Bluevine Business Checking | 4.3 | $0 | 1.30% |
| American Express Business Checking | 4.2 | $0 | 1.00% |
| Relay Business Checking | 4.1 | $0 | None |
| Found Small Business Banking | 4.0 | $0 | None |
American Express business checking FAQ
What is the American Express Business Checking APY?
1.00% APY on balances up to $500,000, checked {checked}. There are no activity rules to earn it.
Does Amex Business Checking have a monthly fee?
No. There is no monthly fee and no minimum balance.
How do I earn the 35,000 Membership Rewards points?
Deposit $5,000 or more in eligible deposits within 30 days, keep a $5,000 average balance for the next 60 days, and make 5 qualifying transactions within 60 days of opening.
Can I deposit cash into Amex Business Checking?
Amex does not list cash deposits among its deposit options. If your business handles cash, confirm with Amex before you open an account.
Is American Express Business Checking FDIC insured?
Yes. Deposits are held at American Express National Bank, FDIC certificate 27471, up to $250,000 per depositor, per ownership category.
Is American Express Business Checking worth it?
It is a good fit for businesses that want no monthly fees, 1.00% APY on balances up to $500,000 and rewards points on debit spending. It is less suited to businesses that deposit a lot of cash.
What does American Express Business Savings pay?
3.15% APY with no monthly fee, as of Oct 23, 2026.
Ready to open American Express Business Checking?
Rates as of Oct 23, 2026. Confirm the current rate and terms on the provider’s site before you apply.