Amex launches Money Plus

JAKARTA (JP): American Express Bank launched on Monday its new product called the Money Plus (Money+) account, which is a time deposit tailored to be a personal investment tool.

The bank describes the product as an investment account which combines the ease of having a time deposit with the advantages of an investment tool managed by a personal fund manager.

"We're the first bank to offer this type of product here in Indonesia," senior country executive Sylvia-Marie Challita said at the product launch at the Regent Hotel.

The product's features include flexibility to withdraw and transfer money.Unlike normal time deposits that have fixed tenors of 30, 60 or 90 days, Money+ sets no tenors and no minimum cash deposits to open a Money+ account. (03)