American ExpressIt is known for its perks-laden cards and now it has entered the highly competitive field of digital checking account.

Amex Rewards Checking was introduced Tuesday to U.S. customer by the company. According to the company, any member of a non-business credit card is eligible for the account with no fees and no minimum balance. Eva Reda, Amex general manager for consumer banking.

There are many options available for Americans looking to open a checking account. fintechAmex sees themselves as disruptors and big banks. The account’s debit card allows customers to rack up reward points by making transactions. Customers can also earn 0.50% annually on their balances.

Reda explained that the reason Reda put together this really great APY with the rewards was to maximise the customer loyalty. The time feels just right, based on the location of customers’ heads and who is using it. Also consider how widespread this solution is becoming.

American Express called this the first account to offer checking for consumers. In 2011, the company launched an account to accommodate customers. small businessKabbage Checking is a service that owners call Kabbage Checking. According to Reda, the bank offers online savings accounts starting in 2008. The bank had over 56 million U.S. card in circulation last year. However, the company doesn’t provide a breakdown for business and consumer customers.

Reda stated that these accounts will be integrated in the Amex app. They offer benefits such as protection against debit charges and 24-hour customer support. She said the appeal to Gen Z and millennial users is of particular importance for Amex.

Reda explained, “There’s no doubt in my mind this will be our primary account. Others who decide to make it their primary account are going go for it. Some others are going out to test it and then start with their second or third account.”