American Express National Bank

Overview / Commentary
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. 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. 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 CD Rate Changes As Of 11-17-2022 - 11/17/2022

American Express CD rate changes as of 11-17-2022 include: 5-year CD @ 4.25% (was 4.10%), 2-year CD @ 4.10% (was 4.00%), 1-year @ 4.00% (was 3.85%) To view all American Express CD rates see: Thanks Zissou for the update regarding the new American Express HYSA rate of 3.00% in your comment on the 11/16/2022 “Latest Liquid Bank Account Rates” blog!

American Express CD Rate Changes As Of 11-10-2022 - 11/12/2022

American Express CD rate changes as of 11-10-2022 include: 5-year CD @ 4.10% (was 3.50%), 2-year CD @ 4.00% (was 3.40%), 1-year @ 3.85% (was 3.25%) To view all American Express CD rates see:

American Express CD Rate Changes As Of 10-28-2022 - 10/29/2022

American Express CD rate changes as of 10-28-2022 include: 5-year CD @ 3.50% (was 3.10%), 2-year CD @ 3.40% (was 3.05%), 1-year @ 3.25% (was 3.00%) To view all American Express CD rates see: (Note the American Express new issue, non-callable brokered CDs currently offered at Fidelity and Vanguard have much higher rates: 2-yr @ 4.65% and 3-yr @ 4.70%)

View all posts from:

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 (285)

I Will Tell You What Does Immediately Stand Out....

Posted by: |

What immediately does make a positive impression on me with opening a new AmEx savings account was the fact that once you have set up a link to your external bank to fund this new account, the PULL transfer that you initiate to be taken out of your external bank will show up as a balance in AmEx which starts earning you interest instantly from the moment you click on the box. That I recall over the years with the various other online savings accounts that I hold, this is the only bank that does not have me waiting 2 to 4 days just for the transfer balance to show. While it will take some time to fully clear, it still serves as a visual confirmation and a reassurance to see those funds there immediately in the account balance and know that they are collecting interest.

Work In Progress

I just spoke to AMEX and they offer joint savings, but only individual checking, and to deposit into the checking you have to be the sole owner of the other account, even their own savings account. Seems very silly and backwards.

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.

Amex Savings Web Site Is BAD

Posted by: |

The web site didn't have a message or chat options.
They don't even have an email address to contact.
To contact them, you have to phone call or send reg mail. This is 2022 already and AmEx savings still do business like 20 century.



Health Grade Components

FDIC Certificate #27471
Year Established1989
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD5.03%
Return on Equity - YTD51.07%
Annual Interest Income$4.88B
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$137.9B$126.6B
LoansQ2 2022vs Q2 2021$112.6B$89.83B
DepositsQ2 2022vs Q2 2021$104.6B$95.78B
Equity CapitalQ2 2022vs Q2 2021$13.23B$12.62B
Loan Loss AllowanceQ2 2022vs Q2 2021$2.84B$3.66B
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$364.8MM$267.7MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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American Express National Bank Savings Account Rates

3.00%$1-High Yield Savings Account

American Express National Bank Checking Account Rates

1.30%-$500kBusiness Checking
0.60%--Rewards Checking

American Express National Bank CD Rates

4.25%$1-60 Month CD
4.10%$1-24 Month CD
4.00%$1-12 Month CD
1.20%$1-48 Month CD
1.15%$1-36 Month CD
1.00%$1-18 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

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