Is American Express High Yield Savings Account the right fit for you?
Last Updated: 04/18/2025
American Express High Yield Savings Account
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Last Updated: 04/18/2025
SuperMoney User Recommendation Score +22
Mostly recommended9 total votes
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Highlights
Community Rating
Mostly recommended
APY (Annual Percentage Yield)
4.00%(Verified 11/12/2024)
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Minimum Opening Deposit
Starting at $0
Minimum Balance to Earn APY
$1
Number of Reviews
American Express High Yield Savings Account Review
American Express High Yield Savings Account is offered by American Express® National Bank, a bank founded in 1850 and based in New York, NY. American Express savings are available in 50 states and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 4.00%, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- No minimum initial deposit. There is no minimum balance required to open an account online.
American Express savings Pros & Cons
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American Express savings FAQ
Are savings accounts from American Express® National Bank federally insured?
Yes, your deposits are insured 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.
Does American Express® National Bank offer a signup bonus?
American Express savings has a bonus of $0.
What is the minimum initial deposit for American Express savings?
There is no minimum deposit to open a American Express savings.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does American Express High Yield Savings Account offer?
American Express savings offers an APY of 4.00% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does American Express savings charge?
American Express savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
What features and perks does American Express savings offer?
This savings account includes the following features:
- Fraud monitoring - American Express savings 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.
- Mobile Banking Services - American Express savings allows you to manage your money online or with a mobile app.
Can you set up a direct deposit to American Express savings?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for American Express savings?
The customer support email for American Express savings is info@americanexpress.com.
How do people rate the customer service and user experience of American Express savings?
Overall, American Express savings is mostly recommended based on community reviews that rate customer service and user experience.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Contact
Headquarters
Hours of Operation
Sunday7:00AM - 12:00AMMonday7:00AM - 12:00AMTuesday7:00AM - 12:00AMWednesday7:00AM - 12:00AMThursday7:00AM - 12:00AMFriday7:00AM - 12:00AMSaturday7:00AM - 12:00AM
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Availability
Available in 50 states and Washington, D.C.
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
SuperMoney Net Recommendation Score
SuperMoney users mostly recommend this product, giving it a user recommendation score of +22, or 3.4 on a 5-point rating scale.
+22
-1000+100
No one recommends
Everyone recommends
Reviewer Sentiment Over Time
American Express High Yield Savings Account Community Reviews
Would you recommend American Express High Yield Savings Account to your friends?
Giviel A.
Jul 20, 2023
Would Recommend
I have a American express card .. thanks you very much
MH
Mohamed H.
Nov 27, 2022
Would Recommend
one of the best savings accounts, easy to open, reasonable rates, great customer service, and support.
American Express is a great company, it has great products, and it took security very seriously
MC
Mazhar C.
Nov 25, 2022
Would Recommend
I have always loved American Express. I had a Business Acct many years ago and I want another one.
LV
Luis V.
Nov 14, 2022
Would not Recommend
I wouldnt recommend American Express for the reason that the interest rate in currently quite high. I would also say that the customer service wasn't all that helpful and supportive at the time of my call
RG
Rachiel G.
Oct 16, 2022
Would not Recommend
I am not satisfied because the interest rate is kinda higher. But it's all good.
Michael L.
Oct 15, 2022
Would not Recommend
I was deciding between this and Goldman Sachs and ended up choosing the later. AMEX is a reputable company but the benefit of having a saving account is far less compared to Marcus by Goldman Sachs
SS
Sharon S.
Oct 3, 2020
May or may not recommend
I’ve had my savings account for 2 years now, and I’ve been using it on and off. The interest rate could be a little higher especially when I’m putting in a lump sum of money a month, but it’s still not bad.
CG
Crystal G.
Sep 9, 2019
Would Recommend
I have always loved American Express. I had a Business Acct many years ago and I want another one.
U
Anonymous
Sep 7, 2019
Would Recommend
The rate thats offered is valid. Principle funds are protected while earning interest. Thank you
Showing 9 of 9 reviews
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