American Express Launches High-Yield Savings Account for Business Owners

American Express has introduced a new high-yield savings account aimed at business owners, according to a report by CNBC Select.

The account, called Amex Business Savings, is designed to complement the company's existing business checking offerings, the report said.

According to CNBC Select, the account offers an interest rate described as above the industry average. The report also noted that the account carries no minimum balance requirement and no monthly maintenance fees.

CNBC Select did not specify the exact annual percentage yield offered on the account or provide further details on eligibility requirements or account features beyond those outlined.

American Express has not issued a separate statement on the launch beyond what was reported by CNBC Select.