What Card is Better for Your Employees: American Express or Bank of America?

Both card issuers are giants on the respective market, companies with descent history & reputation renowned all over the world.

First of all, the field of realm of your business envisages answers on this question thus American Express cards tailored more for companies and individuals engaged in travel industry and leisure.

A bank provides exclusive services for its travelling clients, owners of travel agencies and produces its own traveler’s checks, credit cards and bonuses. One of its strategic objectives is the providing decent service to its customers in any country of the world.

All American Express cards have very useful benefits and features that allow you, for example, to save money or travel in complete safety. It does not matter which card you choose – becoming a member of to say this elite club, you will be able to access services tailored to a quite privileged lifestyle.

AmEx Major Perks

  • If you pay for a trip using American Express, then you automatically receive insurance.
  • The company compensates for the funds in case of delay or cancellation of the flight, as well as in case of unintentional rejection of the trip. The amount of compensation is between 250 and 500 dollars.
  • The payment system will compensate for the inconvenience you experienced due to luggage loss or delay. The amount is up to $ 1500 depending on the type of card
  • On a trip, you are insured for a sum of 20,000 to 500,000 dollars.

Needless to say that these are very lucrative options for those who have passion for travelling either on job, or on vacations.

Bank of America is the largest US bank that is renowned for its advanced technology, convenient online banking and versatile mobile services.

  • Integrating with cutting age application for account operation QuickBooks will cost you $ 15 a month.. Bank of America also has a mobile application that can be used for making checks, checking accounts, making transfers, paying bills. The mobile app is rated at 4.7 points on Apple and 4.3 on Android.
  • A credit card for business. Cash Rewards for Business MasterCard® includes a number of benefits for business owners, including:

– 1% cash on purchase

– 2% when paying in restaurants

– 3% at the calculation at gas stations and in stores (up to 250,000 dollars a year and 1% thereafter)

– bonuses of $ 200 when you spend $ 500 within 90 days of opening your account

–  no annual fee

Apart from standard functions, the Bank also offers other funds management tools which will  be helpful inside your business and be useful for your employees if they want career promotion and new positions within the company:

  • intuit Payroll services by Intuit;
  • cancel deposit online;
  • account management;
  • direct payments & invoicing;
  • express tax services;
  • treasury services for larger businesses.

It also worth to add that American Express Bank  and the Bank of America both have very good stability rating by world credit agencies rendering on the basis of the balance between institution capital and liabilities. So, both banks are worth to be considered as issuers for your staff.

 

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