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Account TypeAPYAccount NameMinMax
Savings1.55%American Express Personal Savings--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 National Bank Raises Personal Savings Account Rate - 4/5/2018

American Express National Bank (had been named American Express Bank, FSB before April 1st) raised its Personal Savings Account by 10 bps to 1.55% APY.

American Express Rate Hike - 4/5/2018

American Express raised the rate on Personal Savings to 1.55% was 1.45%. Nice but not great

Change To Deposit Account Agreement - 2/20/2018

Effective April 1, American Express will be American Express National Bank (instead of American Express Bank, FSB). The bank has the new deposit account agreement available now (but not effective until April 1). For CDs opened or renewed on or after April 1, EWPs will increase: 12 month CD: EWP will be 270 days (from 90) More than 12, up to 48 month CD: EWP will be 270 days (from 180) More than 48, up to 60 month CD: EWP will be 365 days (from 180) More than 60 month CD: EWP will be 540 days (from 180 days) EWPs of existing CDs are NOT changing, but these new terms are worth bearing in mind for future planning.

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Reviews (229)

American Express Online Savings

Posted by: GrandQuey | Jan 16, 2018

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.

American Express Online Savings Account

Posted by: Keefern | 13 hours ago

I originally only had an american express credit card, which I have had for about five years. About a year ago, I decided to find an online savings account since the interest rates were so much better than many of the large brick and mortar banks. American express was consistently one of the top recommended banks, so I went with there savings account. The online application was very easy to fill out and probably only took 5 minutes or so. The interest rate was around 1.1% and is consistently raised when the FED increases rates. The online account is easy to navigate and as always the customer service is superb from American Express.

The king of customer service American Express

Posted by: Mightfi | Apr 21, 2018

I have always been a satisfied customer with American Express. They were the first to approve me for a credit card and I have always been happy with their amazing customer service over the years. When I started saving up a good amount of money I was shopping around for a good bank with a good interest rate on their savings. I was referred by reddit personal finance and American Express was on their list for good online banks for savings. At the time they were offering 1.35% and while it's not the highest of the banks, I know their customer service will make up for it. Just like having a amex credit card account, their savings page has all the tools you need. The account page is easy to navigate and UI is very clean and colorful. There are no monthly fees which I liked. I have it linked on my Bank of America Checkings on the same day and I have had no reported issues so far. I can access all my info whenever I want and they even have an onsite chat service if you have any questions. I have only been banking with them for a few months but I am very happy overall so far.

American Express Bank Savings Account

Posted by: Fruitalgi | Dec 22, 2017

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
B+

Health Grade Components

Overall
FDIC Certificate #27471
Year Established1989
Employees301
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD4.45%
Return on Equity - YTD28.74%
Annual Interest Income$3.40B
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$59.15B$36.70B
LoansQ4 2017vs Q4 2016$44.83B$25.99B
DepositsQ4 2017vs Q4 2016$27.03B$20.98B
Equity CapitalQ4 2017vs Q4 2016$5.95B$6.31B
Loan Loss AllowanceQ4 2017vs Q4 2016$1.15B$632.3MM
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$377.3MM$237.7MM
Real Estate OwnedQ4 2017vs Q4 2016$0$0
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

American Express Rate Hike

Maecl   |  
American Express raised the rate on Personal Savings to 1.55% was 1.45%.
Nice but not great

Change To Deposit Account Agreement

thowellIII   |  
Effective April 1, American Express will be American Express National Bank (instead of American Express Bank, FSB). The bank has the new deposit account agreement available now (but not effective until April 1). For CDs opened or renewed on or after April 1, EWPs will increase:
12 month CD: EWP will be 270 days (from 90)
More than 12, up to 48 month CD: EWP will be 270 days (from 180)
More than 48, up to 60 month CD: EWP will be 365 days (from 180)
More than 60 month CD: EWP will be 540 days (from 180 days)

EWPs of existing CDs are NOT changing, but these new terms are worth bearing in mind for future planning.

Rate Increase At American Express

buckeye61   |  
High Yield Savings up to 1.45%(Was 1.35%)

Rates
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American Express National Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.55%--American Express Personal Savings

American Express National Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.35%--60 Month CD
2.00%--48 Month CD
1.95%--36 Month CD
1.75%--24 Month CD
0.60%--18 Month CD
0.55%--12 Month CD
0.40%--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 feedback@depositaccounts.com 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.