American Express announced the launch of a new high yield savings account for businesses, alongside their existing business checking account. The current APY on the business savings account is 2.95% while the business checking account earns 1% APY. These rates will change over time.
The business checking product often has a nice signup bonus while the new savings product does not offer any sign up bonus.
We maintain a special section in our Best High Yield Savings Accounts page for business accounts since there aren’t many options with solid interest rates. The 2.95% rate on AmEx Business Savings isn’t amazing, but still a solid option to consider for someone who wants an easy online option for their business.
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