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Account TypeAPYAccount NameMinMax
Savings1.25%High Yield Savings Account--Details »
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Overview / Commentary
4315 South 2700 West
Salt Lake City, UT 84184

In the way of personal banking, American Express offers two account possibilities: high-yield savings accounts and Certificates of Deposit (CDs). The high-yield savings account is easy to open electronically. The savings account comes with no monthly fees, nor a minimum balance requirement and allows ACH transfers to and from the account at no additional cost. DepositAccounts.com has featured this savings account on multiple occasions for its competitive interest rate and flexibility. Certificates of Deposit (CDs) are available and in term lengths ranging from 6 to 60 months. CDs also have no fees and no minimums and can be easily opened electronically through an online application process. Automatic transfers can be set up to fund either the savings account or the CD, and depositing by check is also an option. DepositAccounts.com reported in 2009 on the bank’s transition from their Savings Accelerator account that was tied to eligible American Express Card products, to the high-yield savings account, which is a “standalone” account.

American Express online savings accounts provide a convenient platform on which account holders can view their transaction history and set up electronic fund transfers. The web-based system makes the application process quick and simple, and the website makes it easy to switch between a Card account and a deposit account.

Related Posts

American Express Bank Ups Savings Account Rate to 1.25% APY - 9/28/2017

American Express Bank, FSB increased the APY of its High Yield Savings Account (HYSA) by 10 bps to 1.25%. This is the third 10-bps rate hike since June.

Rate Hike At American Express - 9/28/2017

American Express raised the rate on their savings account to 1.25%

Another Savings Account Rate Hike at American Express Bank - 7/14/2017

American Express Bank, FSB increased the APY of its High Yield Savings Account (HYSA) by 10 bps to 1.15%. It has been less than a month since the last rate hike.

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Reviews (150)

As A "High" Interest Savings Account I Have No Complaints

Posted by: Ralph May | Sep 20, 2017

I have used American Express for my emergency cash for several years now. I have been with them since 2015. Occasionally like today I check other banks to see if my rate could be improved. As you can see there are a few banks with somewhat higher rates, but when I read those reviews I am convinced that it is not worth the hassle. AM EX has extraordinary customer service. So for whatever it is worth, I just wanted to add my voice as a positive review for this bank. I remain very satisfied with my primary bank except as it relates to savings interest, there they are terrible so Am Ex fills the gap for me.

High Yield Amex Experience

The high yield online savings account offered by American Express (FSB) offers much higher rates than large brick and mortar banks. The rate I receive now is 1.12%. While nothing to write home about in terms of a rate of return and trying to beat inflation in general terms, this rate beats almost all other savings account rates. There is no minimum balance and the transfers happen pretty quickly and easily. For example, if you need to access your funds, often times the money will appear in your regular checking account the next business day. Finally, Amex is a big, trusty name that isn't going away anytime soon and will not abscond with your money. Highly recommended.

For An Online Bank, Too Many Offline Requirements

Posted by: JAraque | May 28, 2015

I recently got divorced and had to convert all my joint accounts at various banks into single accounts. AmEx Bank was one of two banks that required that I resubmit a new signature card for the new account considering they already had my signature on file from the joint account, but unlike the other bank I was unable to complete the process online. Instead you have to wait until AmEx mails you the form so that you can fill it out and mail it back to them.

Also, ALL of my my other banks allowed me to change the beneficiary on my accounts quickly and easily online. AmEx Bank was the exception. To add a beneficiary with AmEx required that you print out a form, fill it out and mail it in.

Customer Service was not helpful when I asked why I could not complete those tasks online or why I could not simply print the needed forms, fill them out, scan them and email them back.

Best in online saving account

I've been using American Express personal saving online account for over 4 years now, and its by far one of the best decisions in my life. I get above market rate interest on my deposits, customer service agents are very professional and address issues in timely manner. i love it because it helps me reach my saving goal quickly, as there's no physical location to withdraw money from the account, except via online transfer which take 2 to 3 business days. So what ever money I have in there literally stays in there for good, as opposed to my regular bank account with debit card where am always tempted to swipe my debit card or get money out of the atm.



Health Grade Components

FDIC Certificate #35328
Year Established2000
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD3.52%
Return on Equity - YTD28.46%
Annual Interest Income$1.50B
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$49.86B$49.81B
LoansQ2 2017vs Q2 2016$37.54B$31.76B
DepositsQ2 2017vs Q2 2016$40.49B$38.03B
Equity CapitalQ2 2017vs Q2 2016$5.97B$7.48B
Loan Loss AllowanceQ2 2017vs Q2 2016$555.1MM$506.5MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$203.3MM$232.5MM
Real Estate OwnedQ2 2017vs Q2 2016$0$0
  User-submitted Promotions & Notices

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Rate Hike At American Express

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American Express raised the rate on their savings account to 1.25%

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American Express Bank, FSB. Savings Account Rates

1.25%--High Yield Savings Account

American Express Bank, FSB. CD Rates

1.70%--60 Month CD
1.45%--48 Month CD
1.25%--36 Month CD
1.00%--24 Month CD
0.60%--18 Month CD
0.55%--12 Month CD
0.40%--6 Month CD

American Express Bank, FSB. is an Internet only bank and does not have branch locations. Its headquarters is located at 4315 South 2700 West - Salt Lake City, UT 84184