This can hinder manageability. The American Express Business Checking Account is equipped with tools that are unparalleled. The checking account on Google Play Store has a rating of Oklahoma with no complaints. Additionally, the account has superior mobile banking features. This means that the user can supervise their accounts in an effortless manner. You can use the mobile app to deposit checks, bill payments, and keep tabs on account and transactions.”,
‘American Express Checking account comes with superior mobile banking tools which lets users manage their account without any hassles. The checking account in Going gives Oklahoma of account on the Google Play Store. Besides the unparalleled rating, there are no complaints and the account mobile banking feature is exceptional. The user is able to supervise their account effortlessly. No single complaint has been found on the google play store regarding the American Express Business Checking Account.\n\nApart from the unbeatable rating, the mobile banking features of the check greatly enhance user functionality. Users of the comment are able to utilize the app to deposit checks, perform bill payments, and keep tabs on accounts or transactions. Contrary to that, users are self-restrictive while utilizing the mobile banking feature.\n\nBased on the ratings, it is best assumed that the user friendly tools on the checking account are exceptional and without saying, facilitate the user in arguments. I have reserved comment.\n\nAmerican Express Checking account comes with superior mobile banking tools which lets users manage their accounts without any huddles. The mobile banking features help users effortlessly monitor their accounts and perform automatic transactions like subscriptions, bill payments and the likes. So far, no online complaints have been found.
Free American Express ATM networks of over 4,000 machines are available to you, where you can deposit and withdraw cash at no additional cost.
Considerations
Limited Branch Access
American Express has no branches as any usual bank does. This might be a problem for customers who prefer face-to-face contact instead of mobile or internet banking. However for businesses that operate online, this would likely not be an issue.
Monthly Maintenance Fee
A $25 dollar monthly maintenance fee is imposed on the American Express Business Checking Account each month. However, this maintenance fee can be avoided if a minimum of $3,000 is kept in the account, or $500 is in eligible expenditures are made through the account each month using the Business Checking Debit Card.
Fees and Charges
| Service | Fee |
|---|---|
| Monthly maintenance | $25 (waived with a $3,000 minimum balance or $500 in purchases) |
| ATM withdrawals (non-American Express ATMs) | $2.50 |
| Domestic wire transfers | $25 |
| International wire transfers | $50 |
| Paper statements | $3 |
| Check fees | $0.25 per check |
Conclusion
People operating businesses who require accounts with high yield and many reward features alongside sophisticated cash management tools will appreciate the American Express Business Checking Account.
It remains a useful alternative to businesses of different sizes, considering, its competitive interest rates and the Membership Rewards program. Meanwhile, the absence of physical branches and the monthly maintenance charge could deter some prospective clients.
For more articles regarding business banking services that fit your business needs, please don’t forget to check other posts here.
FAQ regarding Amex Business Checking Account Review
1. What is the minimum opening deposit for an Amex Business Checking account?
A minimum opening deposit is not required.
2. What are the account benefits?
Benefits include:
- No monthly maintenance fee.
- Unlimited electronic banking and bill pay.
- Exclusive offers and discounts.
3. What are the interest rates?
Interest rates depend on the account balance.
4. Are there any fees for using the account?
Other fees may apply, but there is a $5 fee for each non ACH transaction.
5. How do I open an account?
A branch visit or account signup online both work.
6. What documentation do I need to open an account?
A government-issued ID, EIN, and business license are required documents.
7. Can I access my account online and mobile?
Indeed, your account can be accessed online and via the Amex mobile app.
8. What are the options a customer can use to deposit funds into their accounts?
Deposits can be made via ACH, wire transfer, or mobile deposit.
9. What are the limitations, if any, regarding the use of the account?
Yes, there are limitations on how you can use your account, including the following:
- This account is not accessible for personal use.
- Deposits cannot exceed $250,000 in a single day.
- Withdrawals are capped at 50,000 dollars per day from the account.
10. How do I close my account?
To close your account you will need to call Amex customer support.