American Express (AMEX) was incorporated in 1850. American Express is one of the leading financial services and insurance companies in the world. American Express offers a comprehensivce range of personal finance products. American Express is famous for its charge card, credit cards, and traveler's cheques.
American Express personal finance is one of the most suitable ways of managing personal finance.
The following financial services are offered by American Express personal finance:
Credit card facility
Deposit account services
Investment services
Loan services
The above mentioned services are discussed in detail as follows:
Credit card facility: American Express personal finance provides a variety of credit cards and every credit card caters to a particular purpose. The American Express credit cards have global acceptance.
The American Express Gold credit card facilitates making monthly payments at low interest rates. Up to 25% higher credit limit is available. The options available with this card are the Membership Rewards Program or the Cash Back Program. Facilities available include travel service, balance transfer service, and premium benefits. Specific personalized services are also available.
The RPM credit card facilitates in terms of savings, as well as it offers liquidity for expenses incurred. The benefits are available for savings to the extent of 10% on fuel and the cardholder can also avail 50% bonus points on total expenses incurred. Payment can be done according to the convenience of the cardholder. This card also offers some additional services.
The American Express E credit card offers a wide range of facilities, which include automatic payment facility, free for life option, paperless statements, on line fraud guarantee, and online customer services etc.
Except the cards mentioned above, there is a wide range of country specific American Express credit cards.
Deposit account services: The American Express personal finance motivates savings through providing a variety of remarkable plans. The deposit accounts can be categorized into two types: savings accounts and term deposits.
1.Savings accounts
Under the savings account scheme, the facilities available include free ATM cards, free phone banking system, home banking facility, availability of free quarterly financial statements, availability of demand drafts at cheap rates, free personalized chequebooks, no frills savings account facilities.
2.Term deposits:
In case of long-term deposits, American Express personal finance provides competitive interest rates. Without impacting the interest rates on the remainder of the deposit, the customer is also able to do a free withdrawal of a portion of his term deposit.
Loan services: American Express personal finance services offer personal loans to cater a wide range of needs. Personal savings is maintained intact in this manner. The process of receiving a loan is quite simple. The inspection process is short and American Express personal finance provides on the spot loans by cheque.
Investment services: The American Express personal finance provides investment services through the American Express Investment Service. Information and access regarding mutual funds and other types of investment instruments is available. American Express personal finance offers the service of Money + Personal Account, which offers liquidity with the help of a free ATM, the service of which can be availed across the country. Every personal financial service offered by the American Express is attached to it.