American Express builds a wider SME financial platform
American Express launched its Business Savings account on 15 September 2026 through American Express National Bank, Member FDIC.
The account offers:
- 2.95% APY on all balances
- No minimum balance
- No monthly fees
- Free ACH, wire and check deposits
- Same Day ACH for a $10 fee
- FDIC insurance up to $250,000
The product targets a familiar SME problem: excess operating cash sitting in a low-interest current account. An American Express survey of 1,165 small-business owners, conducted from 30 July to 4 August 2026, found that 82% believed excess cash could be used more effectively in a savings account.
Amex is also extending its platform beyond banking. It announced a payroll solution with Gusto for early 2027. The service will embed Gusto payroll directly into the Amex Business Checking dashboard using the Gusto Embedded API and Symmetry payroll tax infrastructure.
Planned functionality includes:
- Federal, state and local payroll tax filings
- Employee benefits
- 401(k) administration
- Time tracking
- Payroll compliance
- A monthly subscription model
By the end of 2026, Graphite Business Cash Unlimited Card holders will also be able to deposit Reward Dollars directly into Business Checking at a 1:1 value.
This is a full-stack push. Amex already operates its own payment network, accepts transactions at 170 million merchant locations and serves 4.3 million US small-business customers. The wider competitive landscape is also changing, with Brex acquired by Capital One in April 2026 for approximately $5.15 billion and Mercury receiving conditional approval for an OCC national bank charter in April.
Read the coverage from Tech Times and American Banker.
What this means for your business
Do not choose a banking product based only on the headline interest rate. Check:
- Whether the account is suitable for your legal entity and location
- Deposit protection limits
- Transfer fees and processing times
- How easily transactions export into your bookkeeping system
- Whether payroll data can be reconciled accurately
- Whether rewards and savings balances are recorded correctly in the accounts
A higher-yield account can improve cash management. Poor transaction categorisation can create additional bookkeeping work and inaccurate management reports.
Neema separates FX conversion from international payouts
Neema launched its FX Trading Room on 16 September 2026 for financial institutions and business clients.
The service allows users to:
- Request FX quotes.
- Execute currency exchanges.
- Hold converted balances on account.
- Transfer funds later, when required.
This decouples currency conversion from payout execution. Businesses do not have to convert money at the exact moment they make a supplier payment.
The service launched with seven currencies:
- USD
- EUR
- GBP
- LKR
- THB
- CNY
- ILS
Neema’s payments network reaches more than 120 countries. CEO Moshe Kimhi said: “With fluctuating exchange rates, this capability allows clients to have more control over when and how they transfer money around the world, with the potential to save significant costs.”
For an ecommerce business, this could help separate three different decisions:
- When to receive customer revenue
- When to convert currency
- When to pay a supplier or logistics provider
That separation may be useful for Amazon sellers, Shopify brands and digital businesses with recurring international receipts.
However, you still need reliable records for the exchange rate used, the transaction date, the converted balance and any realised foreign exchange gain or loss.
Read the Neema FX Trading Room report.
Verto expands multi-currency card access for African businesses
Verto partnered with Visa to launch a global multi-currency card for African businesses, according to reports published on 20–21 September 2026.
The development reflects a wider trend: international businesses increasingly want payment cards that connect to multi-currency balances rather than forcing every transaction through one domestic account.
For businesses buying software, advertising, stock or services internationally, review:
- Which currencies can be held
- Which currencies can be spent
- Card acceptance by country
- Settlement timing
- FX markups
- Refund and chargeback procedures
- How card transactions enter your accounting records
Read the Verto and Visa report.
GXBank uses risk-sharing to expand SME lending
Malaysia’s GXBank secured backing from the International Finance Corporation, part of the World Bank Group, for a loan portfolio of up to US$110 million aimed at micro, small and medium-sized enterprises.
The IFC will provide up to US$4.95 million in unfunded first-loss coverage. This risk-sharing structure reduces the bank’s exposure and may expand lending to businesses with limited collateral or short credit histories.
The model uses transaction data instead of relying only on traditional branch-based assessment. The IFC also announced a separate initiative involving up to US$700 million in guarantees for digital payments in emerging markets.
For growing businesses, transaction data is becoming increasingly important. Clean sales records, consistent bank reconciliations and complete payment histories can support both compliance and funding applications.
That makes accurate bookkeeping operationally valuable. Your records should show:
- Revenue by sales channel
- Gross and net payment receipts
- Refunds and chargebacks
- Inventory and supplier payments
- Tax liabilities
- Cash held in each currency
Read the GXBank and IFC report.
FCA says regulation is not the main barrier to SME finance
The FCA published FS26/2, “Supporting SME access to finance”, on 17 September 2026.
Its review found no evidence that FCA regulation is a major barrier to SME access to finance. Instead, it identified practical obstacles including:
- Low awareness of available finance options
- Complex application processes
