American Express does not offer traditional checking accounts
American Express does not provide a standard checking account with a debit card and monthly statements the way a bank does. American Express is primarily a credit card and payment services company, not a bank that takes deposits and issues checks.
What American Express does offer through its banking division is a savings account called the American Express Personal Savings Account, which earns interest but has no checking features. If you are looking for a checking account, you will need to open one at a traditional bank or credit union instead.
American Express also offers business payment solutions and corporate cards, but these are not checking accounts either. They are credit products tied to your business or personal credit line.
Key Takeaways
- American Express does not offer checking accounts; it offers credit cards and a savings account product instead.
- The American Express Personal Savings Account earns interest but does not include check-writing or a debit card.
- If you need a checking account, you must open one at a bank, credit union, or online financial institution.
- You can use an American Express credit card for purchases, but it is not the same as a checking account and requires you to pay the balance.
What American Express banking products actually are
American Express operates a bank (American Express Bank, FSB) that holds deposits and offers savings products, but it does not issue checking accounts. The only deposit product available is the Personal Savings Account, which functions like a savings account at any other bank: you deposit money, it earns interest, and you can withdraw it, but you cannot write checks or use a debit card.
The interest rate on the American Express Personal Savings Account varies and is set by American Express. You can check the current rate on their website. The account has no monthly fee and no minimum balance requirement, though there may be limits on how many withdrawals you can make per month depending on federal rules.
If you already have an American Express credit card, you do not automatically have a savings account. You must open the savings account separately, and it is a different product with its own login and statements.
Why American Express is not a checking account provider
American Express built its business on credit cards and payment processing, not on checking accounts. Checking accounts require a bank to process thousands of transactions daily, manage overdrafts, clear checks, and maintain a complex infrastructure that American Express has never developed. Opening a checking account business would be expensive and outside their core operations.
Other credit card companies like Chase and Bank of America offer checking accounts because they are also full-service banks. American Express chose to remain focused on credit and payment services, with a limited banking arm that offers only savings products.
Where to open a checking account instead
If you need a checking account, you have several options. Traditional banks like Chase, Bank of America, Wells Fargo, and regional banks all offer checking accounts with debit cards, check-writing, and online bill pay. Credit unions also offer checking accounts, often with lower fees and better customer service than large banks.
Online banks like Ally, Charles Schwab, Chime, and others offer checking accounts with no monthly fees, no minimum balance, and sometimes higher interest rates on balances. These accounts work the same way as checking accounts at physical banks, but you manage everything online or through a mobile app.
You can use your American Express credit card alongside a checking account at any of these institutions. Many people keep both: a checking account for everyday spending and bill payments, and a credit card for purchases they want to earn rewards on or pay off over time.
How to use American Express if you do not have a checking account
You can open an American Express credit card without having a checking account. American Express will verify your identity and credit history, but they do not require you to have a bank account. You can pay your American Express bill online using a bank account, debit card, or by mail, but you do not need one to be approved for the card.
If you want to use American Express for everyday purchases without a checking account, you can pay the bill in full each month using whatever payment method is available to you. Many people use American Express cards this way, treating them like a payment tool rather than a credit line.
The American Express Personal Savings Account is available to anyone, whether or not they have an American Express credit card. You can open the savings account on its own if you want a place to store money and earn interest, though it will not replace a checking account for paying bills or writing checks.
What happens if you try to open a checking account with American Express
If you visit the American Express website or call their customer service asking to open a checking account, they will direct you to their savings account product or to their credit card offerings. They cannot open a checking account for you because they do not offer one.
Some people confuse the American Express card itself with a checking account because you can use it to pay for things. The card is a credit product: you make a purchase, American Express pays the merchant, and you receive a bill that you must pay back. A checking account is a deposit account: you put money in, and you can spend it directly without owing anything back.
Frequently Asked Questions
Can I use my American Express card like a checking account?
No. An American Express card is a credit card, not a checking account. When you use it, you are borrowing money that you must pay back. A checking account holds your own money that you can spend directly. You can use an American Express card for purchases, but you will receive a bill each month.
Does American Express offer any account where I can write checks?
No. American Express does not offer checking accounts or any product that allows you to write checks. Their only deposit product is a savings account. If you need to write checks, you must open a checking account at a bank or credit union.
Can I link my American Express card to a checking account at another bank?
Yes. You can link your American Express card to a checking account at any bank for paying your bill. You can also use your checking account debit card and your American Express credit card as separate payment methods for different purchases.
What is the American Express Personal Savings Account, and can I use it like a checking account?
The American Express Personal Savings Account is a deposit account that earns interest, but it has no checking features. You cannot write checks, get a debit card, or set up automatic bill payments from it. It is designed for saving money, not for everyday spending.
If I open an American Express savings account, do I get a debit card?
No. The American Express Personal Savings Account does not come with a debit card. You can transfer money out of the account to another bank account or withdraw it, but you cannot spend directly from the savings account like you would with a checking account.