Open an AccountAmerican Express National Bank
Sponsored American Express National Bank Account
| Account Type | APY | Account Name | Min | Max | |
|---|---|---|---|---|---|
| Savings | 1.55% | American Express Personal Savings | - | - | Details » |
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.
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5/18 - American Express Bank Increases Savings Account Rate To 0.95%
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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
American Express Online Savings
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.
The king of customer service American Express
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 Above and Beyond
I have banked with American Express bank and entrusted then with my direct deposits for over 4 years now. It was by far the best banking decision I ever made. For starters there are never any over draft fees or negitive balances. I have multiple accounts with different cards that I can easily move money around to and I even have a saving account with them that's actually helping me save money. My favorite thing about this bank is their customer service. I'm never on hold or talking to the automated phone person. Any issue I have ever had was resolved swiftly and I felt like my time mattered to them.
American Express Bank Savings Account
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.
Data as of Q4 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27471 |
| Year Established | 1989 |
| Employees | 301 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 4.45% |
| Return on Equity - YTD | 28.74% |
| Annual Interest Income | $3.40B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2017vs Q4 2016 | $59.15B$36.70B |
| Loans | Q4 2017vs Q4 2016 | $44.83B$25.99B |
| Deposits | Q4 2017vs Q4 2016 | $27.03B$20.98B |
| Equity Capital | Q4 2017vs Q4 2016 | $5.95B$6.31B |
| Loan Loss Allowance | Q4 2017vs Q4 2016 | $1.15B$632.3MM |
| Unbacked Noncurrent Loans | Q4 2017vs Q4 2016 | $377.3MM$237.7MM |
| Real Estate Owned | Q4 2017vs Q4 2016 | $0$0 |
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
Nice but not great
Change To Deposit Account Agreement
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.
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.55% | - | - | American Express Personal Savings |
American Express National Bank CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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 |
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