American express business checking application

American Express Business Checking Application Details and Instructions: Everything You Need to Know.

Hello Readers,

This is a one-stop guide to the American Express Business Checking Application to cater to those looking for a comprehensive piece on the subject. Be it an established business person or a novice checking a bank’s “Beginners’ Guide”, this article aims to provide all the information necessary to make a well-informed decision concerning the Amex Business Checking Account, including eligibility and how to apply as well as account features.

Key Features

The American Express Business Checking Account, similarly to other noteworthy banks, has certain key features crafted for the needs of businesses. These features are some of the most fundamental functions understanding of which is required to ensure appropriate use of the account:

– No Monthly Maintenance Fee: There are no regular fees associated with keeping your funds stored in the account.
– Competitive Interest Rates: Interest is earned on your business funds, which helps in increasing the wealth.
– Mobile and Online Banking: Your account can be accessed from anywhere in the world via the Amex mobile app or online portal.
– Amex Offers and Rewards: Discounts exclusive to select registered business accounts, rewards, and many other benefits are at your disposal.
– ACH and Wire Transfer Capabilities: Transfer of funds between business accounts and payment to vendors is hassle-free and seamless.

Business Customer Service Support: Contact Amex’s specific business team for support anytime you need.

Eligibility Requirements

Simply put, your business has to meet a few requirements before applying for an American Express Business Checking Account:

A business based in the USA which has a genuine EIN.
A yearly total income of at least $50,000.
Business has been operational for minimum 6 months.

Step-by-Step Application Process

1. Gather Required Documents

Prior to filling an application, it is imperative to ensure that you have the necessary documents:

Business Registration Documents, for instance, Articles of Incorporation, or LLC Agreement.
EIN
Business Tax Returns
Bank Statements
Proof of Identity, such as drivers license or passport.

2. Complete the Online Application

Go directly to American Express Business page and click “Business Checking Account”. Follow the instructions for the subsequent pages and it will complete the online application. Generally, you’ll be required to fill in standard business details, some financial information, and to accept the terms.

3. Submit Your Application

After filling in the online form, look over everything carefully and confirm that it is correct before you submit your application. Normally, American Express takes 10 business days to review your application.

Business Checking Account By American Express Options

Business Checking By American Express

This account is provided by American Express as Business checking account.

It encompasses the previously mentioned essential functions and is suitable for both large and small enterprises.

American Express Business Checking with Interest

This account provides a higher interest compared to other business checking accounts. It has a monthly maintenance fee that applies when your balance goes below $25,000.

American Express Business Checking for Entrepreneurs

Targeting new, small enterprises, this account has a very low minimum opening deposit requirement, as well as no monthly maintenance fees. It features limited transaction allowances and other simple functions.

Fees and Rates Breakdown

Fee/Rate	American Express Business Checking	American Express Business Checking with Interest	American Express Business Checking for Entrepreneurs
Monthly Maintenance Fee	$0	$10	$0
Interest Rate	0.01% – 0.05%	0.10% – 0.20%	0.01%
ATM Withdrawal Fee (out-of-network)	$2.50	$2.50	$2.50
Wire Transfer Fee (incoming)	Free	Free	Free
Wire Transfer Fee (outgoing)	$15	$15	$15

Conclusion

The American Express Business Checking Application works towards giving better financial control to businesses. With all the choice features matched with great customer care, it is clear that American Express serves as a great ally for business banking.

To learn more about American Express Business Checking Account, you can check the Amex site, or ask a financial consultant.

Feel free to browse through our other articles, where you can obtain further knowledge on how to effectively run a business.