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). 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.
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Hours of Operation
Sunday
7:00AM - 12:00AM
Monday
7:00AM - 12:00AM
Tuesday
7:00AM - 12:00AM
Wednesday
7:00AM - 12:00AM
Thursday
7:00AM - 12:00AM
Friday
7:00AM - 12:00AM
Saturday
7:00AM - 12:00AM