American Express National Bank


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

Amex Savings Rate Decrease To 0.5% - 12/17/2020

Received this morning: We want to let you know that as of today, the Annual Percentage Yield (APY) on your High Yield Savings Account is 0.50%.1

American Express National Bank Cuts High Yield Savings Rate To 0.60% - 9/17/2020

I'm sorry to report that American Express has followed Marcus with a 20 basis rate cut to its High Yield Savings Account. The rate is now 0.60%, which is an all-time low for American Express. The pre-2020 low for this account was 0.75% for a few months in 2012.

American Express Slashes Savings To 0.80% - 8/18/2020

You have to give them some credit; they held the rate at 1% for almost 2 months, but as others predicted, today they reduced the rate by 20%, to 0.80%. https://www.americanexpress.com/personalsavings/home?extlink&inav=footer_personal_savings

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Reviews (268)

American Express Online Savings

Posted by: |

Earlier this year I decided to look for a high yield savings account as my current bank offered a very low APY. After much searching I decided to go with American Express Online Savings. I am already a credit card customer with them so I felt comfortable, and their customer service is beyond amazing. American Express offers a 1.35% APY which, at the end of this year, will pay out nearly $2,000 compared to my old account which would be a pay out of roughly $250. The transfer was a simple online process that took two days approximately. Then afterward, deposits are available within one business day. Overall, it is the best banking experience I have ever had. If you are looking to get the most out of your savings account, I highly recommend American Express.

Consider Reviewing Savings APY

Posted by: |

I initially compare HSBCDirect, Purepoint and AE Personal Savings. However, few months ago, I chose AE cause rate is better and little hiccup encountered. However, both Purepoint and HSBCDirect got their rates up (2.35 and 2.25%) but AE stays at 2.1%. Time for AE to consider matching others, else, money flows.

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.

Online Application Fail

Posted by: |

Recently applied (with outstanding credit score) for a savings account along with a substantial initial deposit (ACH Transfer). And after a lengthy on-line applicating the result? We'll get back to you in 7 to 10 business days. When inquiring by phone about the status of my application, I was informed that some documents will be snail mailed to my address. What? Are you kidding me? This to me is totally unacceptable. Therefore, cancelled the application. There are so many choices out there that would love to have a substantial influx of money that I can not justify being mickey moused. When something don't smell right, vote with your feet.

>>Thanks for the CIT suggestion however, there are too many negative reviews along with a B grade. It appears people are having a wide variety of weird problems with CIT. I have decided to leave my money with Citizens Access for the time being. Should interest rates continue to be slashed or if rates turn negative, I will move all funds to Fidelity Investments where funds are stabilized at $1.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #27471
Year Established1989
Employees313
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD3.11%
Return on Equity - YTD30.33%
Annual Interest Income$7.23B
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$134.5B$120.2B
LoansQ3 2020vs Q3 2019$80.61B$93.74B
DepositsQ3 2020vs Q3 2019$100.8B$77.85B
Equity CapitalQ3 2020vs Q3 2019$12.69B$12.39B
Loan Loss AllowanceQ3 2020vs Q3 2019$5.69B$2.40B
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$551.5MM$781.6MM
Real Estate OwnedQ3 2020vs Q3 2019$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not American Express National Bank; we are a rate comparison website and cannot provide official rates or promotions.

American Express National Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$1-High Yield Savings Account

American Express National Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%$1-60 Month CD
0.50%$1-48 Month CD
0.45%$1-36 Month CD
0.40%$1-24 Month CD
0.30%$1-18 Month CD
0.20%$1-12 Month CD
0.10%$1-6 Month CD
Locations

American Express National Bank 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.