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

Savings Drops To 1.00% - 6/25/2020

HYS rate down to 1.00% from 1.15%

Savings Rate Is Now 1.15% APY - 6/5/2020

As of 6/5/20, HYS account is 1.15% APY*

Amex Bank Now 1.30% - 5/14/2020

As of May 14, 2020, we have changed our High Yield Savings interest rate to 1.30% APY.* It may be helpful to know that this new rate is highly competitive - more than 10X the national average of 0.06% APY.

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Reviews (267)

Never Had An Issue, A Good Option

Posted by: |

I use a personal savings account here: the interest rates track the top rates pretty well, the website is simple to use and they do a good job at giving you the information and functionality you need.

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.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #27471
Year Established1989
Employees331
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.8%
Return on Equity - YTD16.83%
Annual Interest Income$2.82B
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$130B$123B
LoansQ1 2020vs Q1 2019$92.22B$91.05B
DepositsQ1 2020vs Q1 2019$91.51B$78.75B
Equity CapitalQ1 2020vs Q1 2019$13.29B$11.57B
Loan Loss AllowanceQ1 2020vs Q1 2019$5.10B$2.27B
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$819.2MM$752.0MM
Real Estate OwnedQ1 2020vs Q1 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
1.00%$1-High Yield Savings Account

American Express National Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.85%$1-60 Month CD
0.75%$1-48 Month CD
0.65%$1-36 Month CD
0.55%$1-24 Month CD
0.45%$1-18 Month CD
0.35%$1-12 Month CD
0.25%$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.