VERY COOL!
American Express To Offer Internet Banking
NEW YORK (Reuters) - Financial services company American Express Co. (NYSE:AXP - news), whose products range from signature green charge cards to travelers checks, Thursday launched an Internet bank, joining the rush of companies breaking into the hot new area of online banking.
Its so-called Membership B(at)nking service, at americanexpress.com/banking, would offer high interest rates on deposits, low rates on credit lines, rebates on ATM surcharges and free unlimited electronic bill payment, in addition to money market and checking accounts and certificates of deposits, American Express said.
Customers could bank over the Internet, or by ATM, telephone or mail with this service.
Other financial services companies like Charles Schwab Corp. (NYSE:SCH - news), the nation's largest discount and online broker, and Merrill Lynch and Co. Inc. already have pushed into Internet banking with products like ATM cards and checking accounts aimed at capturing traditional banks' depositors. American Express's service would be available to all its card members as well as to other customers, and would provide free, round-the-clock, unlimited customer service on the telephone or through electronic mail. Membership B(at)nking would be offered through American Express Centurion Bank, which has
more than $12.5 billion in assets. American Express also has a corporate banking unit.
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