Amex brings a lot of new features to Serve, the best being free cash reloads. There is now a $1 monthly fee that is waived when you have direct deposit or deposit $500 in a month.
Free cash deposits at CVS and 7-Eleven stores nationwide along with free MoneyPass ATMs, free BillPay and no fees is very compelling. This is a real threat to US Banks.
I was surprised to learn that the 'Learnvest' service is a paid service other than through Serve/American Express.
Serve did have 'English as a first language' customer service and I believe the $1 waivable fee is to generate some extra revenue to keep a higher level of customer service. BlueBird customer service (unless its changed which I doubt) was horrendous.
Free Cash Load Network: Starting this November, American Express Serve customers will be able to take cash to the register at more than 14,000 participating CVS/pharmacy and 7-Eleven stores and add it to their American Express Serve Account. This is made possible through a relationship with InComm and its Vanilla Reload Network.
Direct Deposit: Serve customers can add their paycheck or government disbursements directly into their Account through Serve.com.
Mobile Check Capture: Later this year, customers will be able to use their smartphone camera to snap a photo of a check and add it directly into their Account using the Serve mobile app.
LearnVest Partnership: LearnVest, a company aimed at making educational financial content accessible to everyone, will provide information designed to help customers set and achieve financial goals and save money. This free educational financial information will be integrated throughout the Serve.com experience.
Reserve: Customers can easily move funds with one time or recurring payments from their Serve Account to a linked Reserve to put money away – and keep it away – for future purchases like a vacation, holiday gifts, or for emergency funds.
Bill Pay: With electronic bill pay customers can pay any bill online using Serve.com and the Serve mobile app.
Free Withdrawals at MoneyPass® ATMs in the U.S.: American Express Serve customers can now withdraw money for free at more than 22,000 MoneyPass® ATMs nationwide. For the closest MoneyPass® ATM location, customers can visit: https://www.serve.com/manage-money/#/atm-access
American Express Serve is now available online at www.serve.com and will be available at select CVS/pharmacy, Family Dollar, Office Depot, Walgreens and Duane Reade stores in the U.S. this fall for a one-time purchase price of $2.95.
