Holdings vs American Express Business
American Express Business Checking is one of the strongest free online business checking accounts available — no fees, 1.
Feature comparison
See how Holdings stacks up against Amex Business
| Feature | Holdings | Amex Business |
|---|---|---|
| Monthly Fee | $0 | $0 |
| Min. Balance | $0 | $0 |
| APY (Checking) | 1.75% | 1.30% (on balances up to $500K) |
| APY (Savings) | 1.75% | N/A (no savings product) |
| FDIC Insurance | Up to $3M | $250K (via American Express National Bank) |
| Free Transactions | Unlimited | Unlimited |
| Sub-Accounts | Unlimited, free | Limited |
| Built-in Accounting | Yes, free | No |
| Auto-Categorization | Yes | No |
| Nonprofit Features | Yes | No |
| Physical Debit Cards | Free | Free |
| Virtual Cards | Free | Not standard |
| Domestic ACH | Free | Free |
| Domestic Wire | Free | $25 outgoing; $0 incoming |
Why choose Holdings over Amex Business
1.75% APY vs. 1.30%
Holdings pays 0.45% more on checking. On a $300K balance, that's ~$1,350/year more in interest. And Holdings pays the same rate on savings; Amex doesn't offer a savings product.
Built-in accounting software
Amex Business Checking is banking only — no accounting tools. Holdings includes full accounting software, eliminating the need for QuickBooks/Xero ($30–$80/month).
Free domestic wires
Amex charges $25 for outgoing domestic wires and $10 for same-day ACH. Holdings includes free domestic wires and standard ACH.
FDIC coverage up to $3M
Amex covers the standard $250K. Holdings extends to $3M through partner banks.
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When Amex Business might be the better choice
Amex Business may be a better fit if you need Membership Rewards integration, No cash deposit fees at Allpoint/MoneyPass ATMs, or 24/7 phone support.
Frequently asked questions
Is Holdings or Amex Business Checking better for nonprofits?
Holdings. Amex doesn't offer nonprofit-specific features like fund accounting. Holdings is purpose-built for nonprofits and churches.
Can I switch from Amex Business Checking to Holdings?
Yes. Open a Holdings account and transfer via ACH. Keep your Amex credit cards — they're independent from your checking account.
Does Amex Business Checking have nonprofit banking features?
No. It's a general business checking account without nonprofit-specific tools.
Which has lower fees — Holdings or Amex?
Both are very low-fee. Amex charges $25 for outgoing wires and $10 for same-day ACH. Holdings is free across the board.
Can I deposit cash with Amex Business Checking?
You can withdraw cash at Allpoint/MoneyPass ATMs, but cash deposits are not supported. This is a limitation shared with Holdings.
Ready to switch?
Open your Holdings account in minutes. Keep your current bank during the transition — move at your own pace.
1.75% APY† • Zero fees^ • FDIC insured to $3M*