American Express Business Checking vs Live Oak Business Savings: which one fits your business?
Side-by-side comparison of American Express Business Checking and Live Oak Business Savings — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: Live Oak Business Savings wins on our scorecard (8.3/10 vs 7.7/10).
| Scored on | American Express Business Checking | Live Oak Business Savings |
|---|---|---|
| Right fit for small biz | 7 | 9 |
| Ease of use | 8 | 8 |
| Fees & pricing | 9 | 10 |
| Customer support | 7 | 7 |
| Features | 7 | 7 |
| Monthly Maintenance Fee | $0 | $0 |
| Domestic ACH | $0 | — |
| Incoming Wires | $0 | — |
| Minimum Opening Deposit | $0 | $0 |
| ACH Transfers | — | $0 |
| Stop Payment Fee | — | $25 |
American Express Business Checking in one paragraph
A powerhouse for existing Amex loyalists who want to earn passive interest on their cash without the headache of monthly maintenance fees.
Skip it if: You need to deposit physical cash regularly or require Zelle to pay your contractors.
Live Oak Business Savings in one paragraph
Live Oak Business Savings is the premier 'set-it-and-forget-it' vault for small business owners who want top-tier interest rates without the complexity of fintech apps or the fees of big banks.
Skip it if: You need to deposit physical cash regularly or require a debit card for immediate spending from your savings.
Frequently asked questions
Which is better, American Express Business Checking or Live Oak Business Savings?
On our five-axis scorecard, Live Oak Business Savings scores higher (8.3/10 vs 7.7/10). Live Oak Business Savings is the premier 'set-it-and-forget-it' vault for small business owners who want top-tier interest rates without the complexity of fintech apps or the fees of big banks.
Who should skip American Express Business Checking?
You need to deposit physical cash regularly or require Zelle to pay your contractors.
Who should skip Live Oak Business Savings?
You need to deposit physical cash regularly or require a debit card for immediate spending from your savings.