Wednesday, August 26, 2015

Thrifty Thinking: Cash Back from American Express Serve

American Express recently announced Serve Cash Back, a new prepaid debit account option that will earn Accountholders 1% cash back on purchases1 . Consumers who spend in line with the 2012 – 2013 U.S. Department of Labor national averages for gas, groceries, dining out, clothing, transportation and entertainment using the Serve Cash Back Card could potentially earn more than $400 annually2 when earning 1% cash back.
Earning cash back will help customers put money aside towards future purchases. After earning cash back, customers will be able to log in to their Serve Account, view how much cash back they’ve earned, and elect to redeem that amount on their next purchase.
In addition to the 1% cash back benefit, customers will enjoy features of the flagship Serve product, including:
·         Free Direct Deposit and the newly added ability to get your paycheck up to two days before payday3
·         Free online bill pay
·         Free withdrawals at over 24,000 MoneyPass® ATMs4
·         American Express world-class 24/7 service
·         Fraud Protection
·         Access to Amex Offers (exclusive discounts from popular merchants)
The Serve Cash Back monthly fee is $5.95. There is no credit check, no hidden fees and no minimum balance. Customers can learn more about the Serve family of products, including the American Express Serve and the new American Express Serve Free Cash Reloads Card, and find the right product for them at
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at and connect with us on,,,, and
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1 Earn 1% Cash Back on purchases (less returns/credits) rounded to the nearest dollar, added to your Account after you use your Card. Rounding purchases to the nearest dollar means that you won’t earn a fraction of a penny in Cash Back. For example, a purchase of $0.01-$0.49 rounds to $0.00 (you don’t earn Cash Back), a purchase of $0.50-$0.99 rounds to $1.00 (you earn $0.01 Cash Back), and so on. The Serve Cash Back Card is the only prepaid Card/account with 1% Cash Back on purchases, not limited to select merchants or select purchases. Cash Back is typically applied to your Account promptly after your purchase, but could take up to 60 days. Cash Back can be redeemed and used only for future purchases made with your Card and cannot be redeemed for cash or otherwise exchanged for value.  Subaccounts are not eligible to earn Cash Back. ATM transactions, fees and Serve Online Bill Pay are not purchases and do not earn Cash Back. For full terms and restrictions, see the Cash Back User Agreement.
2Based on average spending estimates: Average annual spending on gasoline in 2013: $2,418; Average annual spending on groceries 2012-2013: $6,602; Average annual spending on dining out 2012-2013: $3,977; Average annual spending on apparel and services 2012-2013: $17,148; Average annual spending on transportation 2012-2013: $9,004; Average annual spending on entertainment 2012-2013: $2,482 . Total annual spending = $41,631 (Bureau of Labor Statistics US Department of Labor)
3Faster access compared to standard payday electronic deposit and subject to your employer submitting paycheck information to the bank before payday. Your employer may not submit paycheck information early. 
4 Transactions at non-MoneyPass® ATMs have a $2.50 American Express Serve fee. ATM operator fees may also apply. See for details.

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