# Amex launches high-yield business savings account

> American Express enters the business banking war with a new savings product offering 2.95% APY and integrated financial tools.
- Title: Amex launches high-yield business savings account · Pymnts
- Summary: American Express enters the business banking war with a new savings product offering 2.95% APY and integrated financial tools. American Express is building a…
- Keywords: american express, business banking, high-yield savings, small business, financial services, banking competition, business checking, integrated banking, amex business, deposit products, business, finance
- Source: Pymnts — https://pymnts.com/news/banking/2026/american-express-escalates-business-banking-war-with-high-yield-savings-launch
- Author: PYMNTS
- Published: 2026-09-16T19:11:02+00:00
- Read time: 1 min
- Topics: american express, business banking, high-yield savings, small business, financial services, banking competition, business checking, integrated banking, amex business, deposit products, business, finance
## Amex launches business savings account
American Express introduced a high-yield Business Savings account offering 2.95% APY with no minimum balance and no monthly fees. Customers can apply for savings, checking, or both through a single application.

> Businesses are looking for more value from their banking services, including competitive returns and simple tools that help them automate processes.
## Unified banking experience across products
American Express Business Banking lets customers manage savings, checking, and Amex card products all in one place through the Amex App or online. The integration aims to create a more connected experience for business finances.
## Reward dollars now fund checking accounts
Graphite Business Cash Unlimited Card members can now redeem Reward Dollars directly into their Business Checking accounts. This feature launches later in 2026 as part of Amex's integrated financial strategy.
## AI-powered payroll solution coming
American Express plans to launch a new payroll solution powered by Gusto with artificial intelligence-powered insights in early 2027. This expands Amex's suite of integrated business financial tools.
## Commercial business growth accelerates
American Express reported 5% growth in commercial billed business during the second quarter, with small to medium-sized businesses and large corporations both growing at the same rate. Travel and entertainment spending rose 8%.
## Key takeaway

American Express is building a complete business banking platform by combining savings, checking, and rewards redemption in one place to compete for small business deposits.