Amex Launches New Business Savings Account
American Express is expanding its business banking lineup with a new American Express Business Savings account, giving small-business owners another place to keep cash alongside Amex Business Checking and other Amex products.
The new savings account has no monthly maintenance fee and no minimum balance requirement, and it earns 2.95% APY. Amex is also positioning Business Checking and Business Savings as a connected banking setup that can be managed alongside eligible Amex cards in the same digital experience.
Amex Business Savings
The new American Express Business Savings account is designed primarily for business cash reserves rather than everyday spending. Interest compounds daily, and Amex says customers can apply for Business Checking, Business Savings, or both in a single application.
There are no monthly maintenance fees or minimum balance requirements, and deposits are held at American Express National Bank and are FDIC insured within applicable limits.
American Express® Business Savings offers an Annual Percentage Yield (APY) of 2.95, with no minimum balance requirements. The APY, as advertised, is accurate as of Sept. 15, 2026, and is subject to change at any time without notice before and after a Business Savings account is opened.
Amex Business Checking remains the transaction-focused account. It offers a debit card, no monthly maintenance fee, earns interest on eligible balances, and earns 1 Membership Rewards point for every $2 in eligible Business Debit Card purchases. However, American Express dropped its APY yesterday from 1.30% to 1.00%.
Guru’s Wrap-Up
The new Business Savings account makes sense as another piece of the Amex business ecosystem, especially for anyone who already uses Amex Business Checking and wants to keep operating cash and reserves together.
But with no signup bonus currently available, and a not very competitive APY, there isn’t much urgency to open one right away. Amex has been fairly aggressive with Business Checking bonuses, including offers up to 70,000 Membership Rewards points, so waiting could pay off if a Business Savings promotion eventually appears.
Obviously there’s no guarantee that one will, but unless you specifically need the account now, I’d probably wait and see.
