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 Bank Rate INCREASE - 1/5/2022

 Very surprisingly, Amex raised its savings rate today from 0.40% to 0.50%. https://www.americanexpress.com/en-us/banking/online-savings/high-yield-savings/

American Express Introduces High-Interest Business Checking - 10/29/2021

American Express National Bank launched a digital business checking account with a very competitive rate and no monthly service fees.

American Express Bank Rate Drop - 3/11/2021

As per Notice on Log In Web Page: INTEREST RATE CHANGE As of March 11, 2021, we have changed our High Yield Savings interest rate to 0.40% APY.* It may be helpful to know that this new interest rate is highly competitive at 10X the national average of 0.04% APY.**

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11/8/19 - American Express Cuts Savings Rate To 1.75%
11/7/19 - High Yield Savings Interest Drops
8/21/19 - American Express National Bank - Savings Account 1.90% APY Effective 8/22/19
12/20/18 - American Express National Bank Ups Personal Savings Account Rate
12/20/18 - American Express National Banks Raises Savings Rate To 2.10%
11/15/18 - American Express National Bank Ups Personal Savings Account
11/15/18 - Rate Increases At American Express National Bank
9/27/18 - American Express National Bank Boosts Personal Savings Account Rate
9/27/18 - American Express Raises Savings Rate To 1.90%
9/14/18 - American Express National Bank Hikes Rates on Four CDs
8/24/18 - Personal Savings Account & 18-Mo CD Rates Up at American Express National Bank
6/22/18 - Personal Savings Account and CD Rates Up Again at American Express National Bank
6/22/18 - Rate Increases At American Express National Bank
6/7/18 - American Express National Bank Ups Personal Savings APY
6/7/18 - American Express Rate Hike
5/24/18 - Personal Savings Account and CD Rate Hikes at American Express National Bank
5/24/18 - American Express Rate Hike
4/5/18 - American Express National Bank Raises Personal Savings Account Rate
4/5/18 - American Express Rate Hike
2/20/18 - Change To Deposit Account Agreement
1/25/18 - American Express Bank Ups Savings Account Rate
1/25/18 - Rate Increase At American Express
12/14/17 - American Express Bank Ups Savings Account and Long-Term CD Rates
12/14/17 - American Express Rate Hike
9/28/17 - American Express Bank Ups Savings Account Rate
9/28/17 - Rate Hike At American Express
7/14/17 - Another Savings Account Rate Hike at American Express Bank
7/13/17 - Amex Again Raises Savings Rate
6/20/17 - Rate Hike and Review of the American Express Bank’s Savings Account
6/15/17 - Amex Rate Increase
5/18/17 - American Express Bank Increases Savings Account Rate To 0.95%
8/24/12 - Another Rate Increase at American Express Bank
5/31/12 - American Express Bank Increases Savings Account Rate
2/24/12 - Rate Drop On American Express High Yield Savings
6/16/11 - 15 Bp Rate Decreases At American Express Bank
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

Reviews (274)

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.

Former Customer

Good bank, decent customer service however accounts are easily hacked and duplicated. Little information is disclosed when requested about bank fraud and forgery. Customer service reps should start issuing warrants for harassers and stop taking frustrations out on customer, account holder.

Really Easy And Decent Rates

I like Amex a lot because they don't invest in fossil fuels, which is super important to me. Not only that, superb service and very reasonable rates :)

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

Health Grade Components

Overall
FDIC Certificate #27471
Year Established1989
Employees1578
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD5.6%
Return on Equity - YTD56.91%
Annual Interest Income$6.10B
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$122.5B$134.5B
LoansQ3 2021vs Q3 2020$91.97B$80.61B
DepositsQ3 2021vs Q3 2020$93.35B$100.8B
Equity CapitalQ3 2021vs Q3 2020$12.41B$12.69B
Loan Loss AllowanceQ3 2021vs Q3 2020$3.32B$5.69B
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$274.6MM$551.5MM
Real Estate OwnedQ3 2021vs Q3 2020$0$0
Rates
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American Express National Bank Savings Account Rates

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

American Express National Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%-$500kBusiness Checking

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.