American Express High Yield Savings Account

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

American Express savings FAQ

Are savings accounts from American Express® National Bank federally insured?

Does American Express® National Bank offer a signup bonus?

What is the minimum initial deposit for American Express savings?

There is no minimum deposit to open a American Express savings.

What APY does American Express High Yield Savings Account offer?

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?

What features and perks does American Express savings offer?

• 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?

What is the customer support email for American Express savings?

How do people rate the customer service and user experience of American Express savings?