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finder.com’s rating: 4.6 / 5.0
★★★★★
American Express might be most known for its credit cards, but it also offers savings products like the American Express® High Yield Savings account. You’ll get no monthly fees and a high APY, but be ready for no ATM access or in-person customer support.
0.50%
APY
$0
Fee
$0
Minimum deposit to open
APY | 0.50% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
New account fee | $0 |
Minimum balance to earn interest | $1 |
Interest compounding | Daily |
Monthly transaction limit | 6 |
Fee per transaction over the limit | $0 |
Go to site More Info |
Review by
Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
American Express’ High Yield Savings account is for those looking to grow their savings with no monthly fees and a competitive interest rate of 0.5%.
However, if you plan on making withdrawals with this account, you won’t be able to as there’s no ATM access.
We gathered a quick comparison of similar accounts to help you decide if American Express® High Yield Savings is right for you. For more options, select “Compare accounts” to compare even more savings accounts.
American Express® High Yield Savings
★★★★★
Go to site |
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Fee $0 |
APY 0.50% |
Minimum deposit to open $0 |
Minimum balance to earn interest $1 |
Axos Bank High Yield Savings
★★★★★
Go to site |
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Fee $0 |
APY 0.61% |
Minimum deposit to open $250 |
Minimum balance to earn interest $0 |
Aspiration Spend & Save Account
★★★★★
Go to site |
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Fee $0 per month or $15 per month for Aspiration Plus ($12.50 per month if you pay annually) |
APY
|
Minimum deposit to open $10 |
Minimum balance to earn interest $0 |
Compare even more savings accounts
In addition to around the clock phone support and the convenience of an online-only account, an American Express savings account comes with several attractive perks:
Rachel Dix-Kessler
Public Relations Manager
After letting money sit in a regular savings account for years, I decided it would be smart to switch to an account with a higher interest rate. I moved it to the American Express Personal Savings High Yield Savings account, mainly because it didn’t come with monthly fees and no minimum balance. So far I’m happy with my decision.
The platform is extremely easy to use and I trust that my money is safe with a trusted bank. Moving money in and out of the account is seamless — it takes two clicks, and you’re done. I really like how accessible my money is, should need to withdraw it.
If you’re looking for an account with ATM access, you’ll want to keep looking. As always, compare your options when looking for a savings account.
The American Express high-yield savings account is an online account, which means your deposit and withdrawal options are limited to the following:
There are three ways you can get in touch with American Express customer service:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.