This refers to a business checking account product offered by American Express, characterized by a potentially substantial balance of $60,000. It’s a level of deposit that can influence account benefits, interest rates, and overall banking relationship dynamics. For example, a business maintaining such a balance might qualify for premium services or fee waivers.
Maintaining this level of funds in a business checking account can offer significant advantages, including enhanced cash flow management, opportunities for strategic investment, and the potential to cover large operational expenses without relying on external financing. Historically, businesses have sought to maintain healthy balances to ensure financial stability and demonstrate creditworthiness to potential lenders.
