American Express National Bank (Member FDIC)


Overview / Commentary
800-446-6307
4315 South 2700 West
Salt Lake City, UT 84184

In the way of personal banking, American Express National Bank (Member FDIC) 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 Rate Changes For 1-25-2023 - 1/25/2023

American Express rate changes for 1-25-2023 include: HYSA @ 3.30% (no change) 1-year @ 4.25% (was 4.15%) 2-year CD @ 4.25% (no change) 5-year CD @ 3.75% (was 4.25%) To view all American Express CD rates see: https://www.americanexpress.com/en-us/banking/online-savings/cd/?linknav=savings-nav-cd

American Express CD Rate Changes For 1-11-2023 - 1/11/2023

American Express CD rate changes for 1-11-2023 include: 1-year CD @ 4.15% (was 4.00%) 2-year CD @ 4.25% (was 4.10%) (Unfortunately, there was no rate increase in the 5-year term CD. It remains @ 4.25%) To view all American Express CD rates see: https://www.americanexpress.com/en-us/banking/online-savings/cd/?linknav=savings-nav-cd

American Express CD Rate Changes As Of 11-17-2022 - 11/17/2022

American Express CD rate changes as of 11-17-2022 include: 5-year CD @ 4.25% (was 4.10%), 2-year CD @ 4.10% (was 4.00%), 1-year @ 4.00% (was 3.85%) To view all American Express CD rates see: https://www.americanexpress.com/en-us/banking/online-savings/cd/?linknav=savings-nav-cd Thanks Zissou for the update regarding the new American Express HYSA rate of 3.00% in your comment on the 11/16/2022 “Latest Liquid Bank Account Rates” blog!

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12/17/20 - Amex Savings Rate Decrease To 0.5%
9/17/20 - American Express National Bank Cuts High Yield Savings Rate To 0.60%
8/18/20 - American Express Slashes Savings To 0.80%
6/25/20 - Savings Drops To 1.00%
6/5/20 - Savings Rate Is Now 1.15% APY
5/14/20 - Amex Bank Now 1.30%
4/24/20 - AMEX Bank APY Drops To 1.50%
4/17/20 - Review of American Express Personal Savings Account and CD Rates
4/9/20 - CD Rates Decrease
4/3/20 - American Express National Bank Rate Change
3/20/20 - American Express National Bank Adds 130 bps To 12-Month CD Rate
3/16/20 - American Express National Bank 5-Year CD Still Competitive
11/8/19 - American Express Cuts Savings Rate To 1.75%
11/7/19 - High Yield Savings Interest Drops
8/21/19 - American Express National Bank - Savings Account 1.90% APY Effective 8/22/19
12/20/18 - American Express National Bank Ups Personal Savings Account Rate
12/20/18 - American Express National Banks Raises Savings Rate To 2.10%
11/15/18 - American Express National Bank Ups Personal Savings Account
11/15/18 - Rate Increases At American Express National Bank
9/27/18 - American Express National Bank Boosts Personal Savings Account Rate
9/27/18 - American Express Raises Savings Rate To 1.90%
9/14/18 - American Express National Bank Hikes Rates on Four CDs
8/24/18 - Personal Savings Account & 18-Mo CD Rates Up at American Express National Bank
6/22/18 - Personal Savings Account and CD Rates Up Again at American Express National Bank
6/22/18 - Rate Increases At American Express National Bank
6/7/18 - American Express National Bank Ups Personal Savings APY
6/7/18 - American Express Rate Hike
5/24/18 - Personal Savings Account and CD Rate Hikes at American Express National Bank
5/24/18 - American Express Rate Hike
4/5/18 - American Express National Bank Raises Personal Savings Account Rate
4/5/18 - American Express Rate Hike
2/20/18 - Change To Deposit Account Agreement
1/25/18 - American Express Bank Ups Savings Account Rate
1/25/18 - Rate Increase At American Express
12/14/17 - American Express Bank Ups Savings Account and Long-Term CD Rates
12/14/17 - American Express Rate Hike
9/28/17 - American Express Bank Ups Savings Account Rate
9/28/17 - Rate Hike At American Express
7/14/17 - Another Savings Account Rate Hike at American Express Bank
7/13/17 - Amex Again Raises Savings Rate
6/20/17 - Rate Hike and Review of the American Express Bank’s Savings Account
6/15/17 - Amex Rate Increase
5/18/17 - American Express Bank Increases Savings Account Rate To 0.95%
8/24/12 - Another Rate Increase at American Express Bank
5/31/12 - American Express Bank Increases Savings Account Rate
2/24/12 - Rate Drop On American Express High Yield Savings
6/16/11 - 15 Bp Rate Decreases At American Express Bank
3/3/11 - American Express Bank HYS Interest Rate Change
11/18/10 - Amex Savings: Now Can Link Only 3 External Accounts
7/14/10 - American Express Bank's Internet Savings Accounts and CDs - Updated Review
3/4/10 - American Express Bank Cuts Savings Account Yield to 1.30%
1/23/10 - Attention American Express Bank CD Holders And CD Holders In General
12/17/09 - New Online Savings Account and CDs at American Express Bank
12/7/09 - Where Is That 4
11/12/08 - AmEx to be a Bank Holding Company & AmEx's Little Known Savings Account
10/8/05 - American Express New Savings Accelerator

Reviews (286)

Couldn't Be Easier! Much Better Than UFB Direct!

I had made the huge mistake of opening a high yield account with UFB Direct, which pays 4%+ currently.

Unfortunately, I didn't read the reviews about them before I opened my account. UFB Direct takes 5 business days to credit your account once the ACH has been initiated, basically "stealing" your interest for that time.

Once I realized this, I went over to AMEX where I already have several other accounts, opened the account and funded it -- all in a couple of minutes!

I would highly recommend AMEX to anyone!

I Will Tell You What Does Immediately Stand Out....

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What immediately does make a positive impression on me with opening a new AmEx savings account was the fact that once you have set up a link to your external bank to fund this new account, the PULL transfer that you initiate to be taken out of your external bank will show up as a balance in AmEx which starts earning you interest instantly from the moment you click on the box. That I recall over the years with the various other online savings accounts that I hold, this is the only bank that does not have me waiting 2 to 4 days just for the transfer balance to show. While it will take some time to fully clear, it still serves as a visual confirmation and a reassurance to see those funds there immediately in the account balance and know that they are collecting interest.

Easiest Bank To Move $ To And From

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I have had about 6 online banks, AMEX is easiest for moving $. I've had 1.00 keeping account open for more than a year and then came back with more $ later. Not sure why I see reviews saying it is difficult to close account. You don't have to close, just move $ elsewhere ACH

American Express Bank Savings Account

Posted by: |

My grandparents opened a American Express personal savings account for me a couple of years ago in order to give me money to help with my children. They stated that it had a decent APR and would accumulate interest better than other banks. About 4 months ago I went to try and close the account because one of my children needed medical treatment and the bills were overwhelming. I figured now was as good a time as any to withdraw all of the money and close the savings account. That process was amazingly difficult. Every single person I spoke to in customer service was difficult and none would clarify exactly how the account closure process works because apparently you are not supposed to use money that has been saved. I would not use this institution ever again.

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Health

Health Grade Components

Overall
FDIC Certificate #27471
Year Established1989
Employees1735
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD5.03%
Return on Equity - YTD51.07%
Annual Interest Income$4.88B
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$137.9B$126.6B
LoansQ2 2022vs Q2 2021$112.6B$89.83B
DepositsQ2 2022vs Q2 2021$104.6B$95.78B
Equity CapitalQ2 2022vs Q2 2021$13.23B$12.62B
Loan Loss AllowanceQ2 2022vs Q2 2021$2.84B$3.66B
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$364.8MM$267.7MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
Rates
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American Express National Bank (Member FDIC) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.30%$1-High Yield Savings Account

American Express National Bank (Member FDIC) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.30%-$500kBusiness Checking
1.00%--Rewards Checking

American Express National Bank (Member FDIC) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%$1-12 Month CD
4.25%$1-24 Month CD
3.75%$1-60 Month CD
1.20%$1-48 Month CD
1.15%$1-36 Month CD
1.00%$1-18 Month CD
Locations

American Express National Bank (Member FDIC) 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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.