SuperMoney
  American Express High Yield Savings Account

American Express High Yield Savings Account

in Savings Accounts from American Express National Bank · Member fdic

Claimed

American Express High Yield Savings Account

Claimed

in Savings Accounts from American Express National Bank · Member FDIC

Net Recommendation Score +75

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +75, equating to 4.5 on a 5 point rating scale.

+75

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Rating not yet determined  

3 users recommend
1 user is unsure
0 users don't recommend
Cast your vote

Would you recommend American Express High Yield Savings Account to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
Community Rating

Rating not yet determined  

Monthly Fee $0
APY (Annual Percentage Yield) 0.4%
APY Minimum Balance $1

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 High Yield Savings Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Higher than average APY. American Express High Yield Savings Account has an annual percentage yield of up to 0.4%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $1.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • No minimum initial deposit. There is no minimum balance required to open an account.
American Express savings Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not offer mobile check deposits.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • No ATM access to savings.
American Express savings FAQ

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.

Does American Express National Bank offer a signup bonus?

American Express savings has a signup bonus of $0.

What is the minimum initial deposit for American Express savings?

There is no minimum deposit to open a American Express savings.
American Express High Yield Savings Account Minimums
Description
APY Minimum Balance $1
Minimum Balance to Avoid Monthly Fee $0
Minimum Direct Deposit to Avoid Monthly Fee $0
Minimum Opening Deposit Starting at $0

What APY does American Express National Bank offer?

American Express savings offers an APY of 0.4% (APY stands for annual percentage yield, rates may change).

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?

In most cases, the answer is yes. 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 strongly 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.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $1
Minimum Balance to Avoid Monthly Fee $0
Minimum Direct Deposit to Avoid Monthly Fee $0
Minimum Opening Deposit Starting at $0
Monthly Fee $0
Bauer Financial A+/A Rating
Bank Account Features
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • FDIC Member
APY (Annual Percentage Yield) 0.4%

American Express High Yield Savings Account Community Reviews

 

Would you recommend American Express High Yield Savings Account to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +75, equating to 4.5 on a 5 point rating scale.

+75

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

sorted by

Other Savings Accounts