|Account Type||APY||Account Name||Min||Max|
|Savings||1.75%||High Yield Savings Account||-||$5m||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.
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.
I selected American Express for my savings rates due to them offering the highest yielding savings rate. While they don't have any physical locations, I am easily able to deposit my money online (unlimited) and I can make up to 6 withdrawals per month. It does take a few days for my money to come in from my other bank, it is noted as my current balance (what I earn interest on) immediately. Additionally, it takes only a day or two for transfers out to show up in my other banks checking account which is a huge advantage. The biggest downfall of American Express savings is there is no mobile application. With that said, they have a very helpful website. I would highly recommend American Express to my friends searching for a high return on a savings account. I have never had to contact customer service; however, my account was very easily setup
and I think it's a testament to the quality of their service that I haven't ran into any issues that require me to contact customer service. They have increased interest rates on savings over the past 3 months which has me hopeful that they keep up with the market in the future.
I have got to say that hands down American Express is the best financial institution out there. I have dealt iwth a lot of companies who in the end always get me for one thing or another and it really drives me crazy.
It seems if I ever have an issue though AmEx is right on top of it and more often than not will just call me right away and let me know there is an issue and they're going to fix it. An example one time I was on vacation in Italy with my girlfriend and received an email stating that AmEx had been trying to call me and someone was attempting to buy a car with my card. Luckily the transaction never went through, but knowing that they are willing to go that length to protect me is pretty great and I will use them till the day I die.
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.
|FDIC Certificate #||27471|
|Return on Assets - YTD||4.66%|
|Return on Equity - YTD||44.26%|
|Annual Interest Income||$1.42B|
|Assets and Liabilities|
|Assets||Q1 2018vs Q1 2017||$57.84B$34.50B|
|Loans||Q1 2018vs Q1 2017||$42.72B$21.58B|
|Deposits||Q1 2018vs Q1 2017||$27.81B$18.31B|
|Equity Capital||Q1 2018vs Q1 2017||$6.36B$6.49B|
|Loan Loss Allowance||Q1 2018vs Q1 2017||$1.16B$573.1MM|
|Unbacked Noncurrent Loans||Q1 2018vs Q1 2017||$401.4MM$211.3MM|
|Real Estate Owned||Q1 2018vs Q1 2017||$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.
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.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|1.75%||-||$5m||High Yield Savings Account|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|2.90%||-||-||60 Month CD|
|2.60%||-||-||48 Month CD|
|2.55%||-||-||36 Month CD|
|2.50%||-||-||24 Month CD|
|2.40%||-||-||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