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

American Express Cuts Savings Rate To 1.75% - 11/8/2019

As expected, major online banks are making additional cuts after the the latest reduction in the FED's key interest rate. 1.75% in top range of the Fed's target rate(1.50% to 1.75%) and most online banks will eventually be at or below the top range. High yield savings now 1.75%(was 1.90%)

High Yield Savings Interest Drops - 11/7/2019

Interest Rate Change As of November 7, 2019, we have changed our High Yield Savings interest rate to 1.75% APY.* It may be helpful to know that this new rate is highly competitive - more than 18 times the national average of 0.09% APY.

American Express National Bank - Savings Account 1.90% APY Effective 8/22/19 - 8/21/2019

Just got email on this rate change to 1.90% from 2.10% starting tomorrow, 8/22/19

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Reviews (264)

Very Quick Processing

Posted by: Romulus | Jul 19, 2019

I've been with them for years even though there are better rates. They seem to always be a little below the leaders. Customer Service is wonderful. If I need money in a hurry, they transfer it very quick.

Consider Reviewing Savings APY

Posted by: SL | Mar 21, 2019

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: 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.

Open CD With $1,800 Penalty Fee For 1 Minute Mistake

Posted by: wren | Sep 6, 2019

Last december 2018, I opened CD with $10,000 but I accidentally add extra 0. It became $100,000. I called customer service right away and explained about it.

AmericanExpress fixed it and change my CD to $10,000 with $1,800 penalty fee. This is ridiculous because I called them right away. The customer service is terrible. They will charge you HUGE penalty fee for any mistake.

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Health

Health Grade Components

Overall
FDIC Certificate #27471
Year Established1989
Employees282
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD4.65%
Return on Equity - YTD47.9%
Annual Interest Income$5.50B
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$120.1B$114.2B
LoansQ2 2019vs Q2 2018$93.48B$85.09B
DepositsQ2 2019vs Q2 2018$78.73B$75.39B
Equity CapitalQ2 2019vs Q2 2018$11.67B$11.60B
Loan Loss AllowanceQ2 2019vs Q2 2018$2.32B$1.96B
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$719.5MM$634.8MM
Real Estate OwnedQ2 2019vs Q2 2018$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 Cuts Savings Rate To 1.75%

buckeye61   |  
As expected, major online banks are making additional cuts after the the latest reduction in the FED's key interest rate.

1.75% in top range of the Fed's target rate(1.50% to 1.75%) and most online banks will eventually be at or below the top range.

High yield savings now 1.75%(was 1.90%)

High Yield Savings Interest Drops

jrich444   |  
Interest Rate Change
As of November 7, 2019, we have changed our High Yield Savings interest rate to 1.75% APY.* It may be helpful to know that this new rate is highly competitive - more than 18 times the national average of 0.09% APY.

American Express National Bank - Savings Account 1.90% APY Effective 8/22/19

SYC   |  
Just got email on this rate change to 1.90% from 2.10% starting tomorrow, 8/22/19

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
1.75%$1-High Yield Savings Account

American Express National Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.15%$1-60 Month CD
2.10%$1-48 Month CD
2.05%$1-36 Month CD
2.00%$1-24 Month CD
1.90%$1-18 Month CD
0.55%$1-12 Month CD
0.40%$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.