American Express® Personal Savings Account Review

American Express® Personal Savings Account is offered by American Express National Bank, a bank founded in 1850 and based in New York, NY. American Express® Personal Savings Account is available in 50 states (and Washington, DC).

Are savings accounts from American Express National Bank federally insured?

Yes, your American Express National Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #27471). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does American Express National Bank offer?

American Express® Personal Savings Account offers an APY of 1.9% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What features and perks does American Express® Personal Savings Account offer?

This account includes the following features:

• Automatic savings - Set up an automatic transfer from your checking account to a savings account and you'll never have to second-guess your saving decisions again.
• Fraud monitoring - American Express® Personal Savings Account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.

What fees does American Express® Personal Savings Account charge?

American Express® Personal Savings Account does not charge a monthly maintenance fee. See the fee breakdown section below to view all fees.