American Express does not offer traditional checking accounts
American Express does not have a checking account product. The company offers credit cards, charge cards, and investment services, but not deposit accounts where you can write checks or receive direct deposit of your paycheck.
If you are looking for a checking account, you will need to open one with a bank or credit union instead. If you specifically want to use American Express for payments and money management, you have other options through their ecosystem that work alongside a checking account at another institution.
Key Takeaways
- American Express does not offer checking accounts, savings accounts, or any deposit products where you can store money.
- You can use an American Express credit card or charge card for purchases, but you will need a separate checking account at a bank or credit union for bill payments and direct deposit.
- Some people link an American Express card to a checking account at another bank to manage their finances across both accounts.
- If you want a checking account with rewards or special features, you may find those through online banks or credit unions rather than through American Express.
What American Express actually offers
American Express is a card issuer and financial services company, not a bank that takes deposits. Their main products are credit cards (where you pay a balance each month) and charge cards (where you pay the full balance at the end of each billing cycle). They also offer investment accounts and merchant services for businesses.
If you have an American Express card, you can use it to make purchases anywhere that accepts American Express, and you can set up automatic payments from your checking account at another bank to pay your American Express bill. But the card itself is not a place to store money or receive paychecks.
How to set up money management with American Express
If you want to use American Express as part of your payment system, start by opening a checking account at a bank or credit union. This is where your paycheck will land and where you will keep the money you need for daily expenses and bills.
Once you have a checking account, you can apply for an American Express card through their website or by phone. During the application, you will provide your Social Security number, income, and employment information. American Express will check your credit and make a decision, usually within minutes to a few days.
After you receive your card, link it to your checking account in the American Express mobile app or online portal. This lets you see your card balance and your checking account balance in one place, and you can set up automatic payments from your checking account to pay your American Express bill on time each month.
Opening a checking account at a bank or credit union
You will need to open a checking account somewhere else. Banks and credit unions both offer checking accounts, and the process is similar at either one. You can apply online, by phone, or in person at a branch.
Most banks and credit unions will ask for a government-issued ID (driver's license or passport), your Social Security number, and proof of address (a recent utility bill or lease). Some will also run a check on your banking history through ChexSystems, a system that tracks closed accounts and overdrafts. If you have had problems with a bank account in the past, mention this upfront—some institutions will still open an account for you.
Once your account is open, you will receive a debit card and checks (if you request them). You can then set up direct deposit with your employer so your paycheck goes straight into the account, and you can link this account to pay your American Express bill automatically each month.
Why you might want both a checking account and an American Express card
A checking account is where your money sits and where you pay most of your bills. An American Express card is a tool for making purchases and building credit history. Using both together gives you flexibility: you can pay everyday expenses with your debit card or checks from your checking account, and use your American Express card for larger purchases or situations where you want to build rewards points.
Many people use an American Express card for travel, dining, or shopping where the rewards are valuable, and use their checking account debit card for groceries, gas, and other routine spending. At the end of the month, they pay off the American Express balance in full from their checking account.
Alternatives if you want a single account for everything
Some online banks and fintech companies offer accounts that combine checking and payment card features in one product. These are not American Express products, but they may give you the unified experience you are looking for. Examples include accounts from banks like Chime, Ally, or Charles Schwab, which offer checking accounts with debit cards and sometimes rewards.
If you want to stay with American Express specifically, you can use their credit or charge card as your primary payment method and link it to a checking account at a traditional bank. This is the closest you can get to a single American Express account for all your money needs, though technically your money will still be held at the bank, not at American Express.
Frequently Asked Questions
Can I deposit checks into an American Express account?
No. American Express does not have deposit accounts. You will need to deposit checks into a checking account at a bank or credit union. Many banks let you deposit checks through their mobile app by taking a photo of the front and back.
Does American Express offer savings accounts?
No. American Express does not offer savings accounts, money market accounts, or any other deposit products. If you want to save money, you will need to open a savings account at a bank or credit union.
Can I get direct deposit to an American Express card?
No. Direct deposit only works with checking or savings accounts at banks and credit unions. You will need to set up direct deposit to a checking account at another institution, then transfer money to your American Express card if you want to use it for spending.
What happens if I pay my American Express bill late?
Late payments are reported to credit bureaus and can lower your credit score. American Express will also charge a late fee (the amount varies) and may increase your interest rate. Set up automatic payments from your checking account to avoid missing a due date.
Is there a fee to open a checking account?
Some banks charge monthly maintenance fees, while others waive fees if you meet certain requirements like keeping a minimum balance or setting up direct deposit. Compare options at different banks and credit unions in your area—many online banks have no monthly fees at all.