American Express has added membership rewards to its fully digital Business Checking account, after numerous requests from customers that have been using the service since its inception, according to a company press release.
Business Checking customers can now earn Membership Rewards points and convert them into deposits that go directly into their accounts.
“By adding this new benefit, Amex is bringing even more value and flexibility to Business Checking customers with a new way to use Membership Rewards points that can be reinvested in their business,” according to the company announcement.
Amex launched its digital-first Business Checking account and the first Amex-issued debit card in October 2021.
The all-digital Amex Business Checking account also offers small- and medium-sized businesses (SMBs):
Read also: Credit Card FinTech Cardless Launches Amex Partnership
Earlier this week, Amex partnered with credit card FinTech Cardless that lets a number of America’s highest profile brands launch digital-first cards on the Cardless platform.
The New York company announced the partnership in a news release Monday (July 25), noting that it comes at the same time as “significant” investment from Amex Ventures, American Express’ strategic investment arm.
Cardless added that it will use its investments from Amex Ventures and other venture capital backers to continue to expand the company’s product offerings, including exploring new opportunities, innovations and partnerships within the American Express network.