American Express Enters World of Internet Banking

Financial Services giant American Express announced this week its entry into the world of Internet banking by launching Membership B@nking. This on-line banking service is offering high interest rates on deposits, low interest rates on loans, unlimited electronic bill payment, and rebates on ATM surcharges.

Ruediger Adolf, senior vice president of strategic planning and business development at American Express, told Reuters "This is really our entry into the banking industry."