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Sponsored American Express Bank, FSB. Account

Account TypeAPYAccount NameMinMax
Savings1.25%High Yield Savings Account--Details »
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Overview / Commentary
800-446-6307
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 (152)

American Express Personal savings

American Express Personal savings bank is an online-only institution that has been spectacular for my personal savings goals. With an interest rate of .95%, it blows any offer from a brick-and-mortar bank out of the water. Transfers have always been extremely quick to and from my savings account, generally being received by the next business day. Anytime a problem arises, American Express customer service is there to provide unparalleled quality help, to make sure the problem is dealt with as quickly as possible. As it is a savings account, only six withdrawals per month are allowed from the account, but that helps one meet their personal finance goals by forcing one to keep their hands out of the cookie jar, so to say.

More Of A Question.

Posted by: Rudy | Oct 19, 2017

I opened a High Yield Savings Account today and was wondering about the savings account portion. When I asked around I was told this was not a saving account as I am used to found in my neighborhood brick and mortar banks. Went on to say when you deposit your funds into the savings account it is invested in Certificate of Deposit. Can anyone tell me if this is true? Thank you for you time and help.

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.

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Health

Health Grade Components

Overall
FDIC Certificate #35328
Year Established2000
Employees106
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%--High Yield Savings Account

American Express Bank, FSB. CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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
Locations

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