Consumer complaint received 2025-09-19 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Unable to open an account
Company: AMERICAN EXPRESS COMPANY
State: FL

Complaint narrative:
On XX/XX/XXXX, I submitted an application to open a business checking account with American Express. As part of the application, I uploaded my drivers license, my XXXX documentation, and the Articles of XXXX for my business, both of which clearly list my business name and address. 

Shortly after, I received an email ( attached ) from American Express instructing me to unlock my credit so they could complete their verification process. I complied and unlocked my credit. On Friday, XX/XX/XXXX, I received a call from American Express informing me that I would also need to provide either ( 1 ) three bank statements from a checking account I actively use, or ( 2 ) a signed XXXX form to allow AE to obtain my tax return transcript from the IRS, even though I have maintained a savings account with American Express since XXXX. 

I asked the representative what specific information AE required from my bank statements. He replied that he could not disclose that information because it was considered proprietary. I then uploaded the requested checking account statements. 

When I did not hear back, I called AE on Wednesday, XX/XX/XXXX, and was told that my application was not approved, with no explanation provided. I requested to speak with a supervisor, who stated that it appeared my bank statement address did not match the business address on file. I explained that nowhere in the application instructions does it state that a business checking account applicants home address must match the business address. The supervisor said he could not provide further information about the denial, but I had the option of submitting a XXXX transcript request form instead. 

I declined to provide that form, as I was not given any clarity on why AE required access to my tax transcripts or what specific information they intended to verify. I also asked whether AE reviewed my credit score as part of this process, to which the supervisor replied " no - AE does not check credit to open check accounts ''. This directly contradicts AEs earlier request that I unlock my credit. If my bank statements were supposedly denied due to an address mismatch, I fail to see how my tax transcript would resolve that issue. No one at AE was willing to answer that question, repeating only that their approval criteria are proprietary. 

Subsequently, I received three identical letters ( one is attached ) from AE stating that my account could not be opened unless I provided my XXXX letter and Articles of Incorporation, documents I had already submitted with my initial application. 

Based on my experience, it appears that American Express applies its account approval process inconsistently and arbitrarily. Their repeated requests for excessive documentation, refusal to provide legitimate reasons for denial, and reliance on vague claims of proprietary standards raise serious concerns. Notably, American Express currently holds an F rating with the Better Business Bureau, which aligns with my experience and further supports that their account approval practices are questionable and warrant investigation. 

This was not an application for a credit card, but for a business checking account. Despite holding a savings account with AE for four years prior to this application, I was not permitted to open a checking account, nor given a clear explanation for the denial. As a result, I have since closed my American Express savings account. 

I am requesting a clear and legitimate explanation from American Express as to why my application for a business checking account was denied. The only reasoning I was given by a supervisor was that the address on my bank statement did not match my business address, despite the fact that the bank statement reflects the same address as my business. To date, I have not received any formal letter detailing the reason for the denial. Instead, I only received a generic email stating that my checking account could not be opened, with instructions to call if I needed further information.

Company response to consumer: Closed with explanation