American Express has just launched its first consumer checking account and promises a host of benefits to those who sign up for the new product.
American Express Rewards Checking – also known as Amex Rewards Checking – is available to all eligible US American Express Card members beginning February 8.
The benefits that come with the online account include:
- A debit card that earns you one Membership Rewards point for every $2 you spend on qualifying purchases
- An annual percentage yield (APY) of 0.5%, approximately 17 times the current national average of 0.03%
- Purchase protection for qualifying purchases that covers accidental damage or theft
- No monthly maintenance fees or minimums
- No fees for withdrawals at 37,000 ATMs nationwide
The debit card is also contactless compatible, which means you can use it for instant payments at merchants that offer this technology.
Account holders can also access and manage their checking accounts on the American Express app.
Find the best checking account
American Express Rewards Checking might be the perfect account for you. But otherwise, you still have plenty of options.
For example, Axos Bank offers several types of checking accounts that might suit your needs, including options that earn you up to 1% return. These accounts include:
Are you looking for a savings account or a certificate of deposit (CD) instead? Stop by Money Talks News Solution Center and search for the best savings rates.
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