Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure
American Express vs. Chase
One bank has higher interest rates, while the other has a broader selection of products.
Pros and cons of American Express
Pros
- Higher APY rates. American Express current interest rate is 1.0% compared to the national average of 0.07%.
- Better CDs. Amex’s CDs have 6- to 60-month terms and competitive interest ranges.
- No fees. There are no monthly maintenance fees with Amex’s savings account options.
- No minimum balance. Open a savings account or CD with Amex for $0.
Cons
- No checking account options. Amex only offers savings accounts and CDs.
- No debit card. None of Amex’s banking options come with checks or a debit card.
- No branch locations. Amex customers don’t have the option of in-person banking.
- Limited transactions. All banking transactions are capped at six every month.
Pros and cons of Chase
Pros
- Checking account options. Chase offers several checking account options for high school and college students, working professionals, and more.
- More savings options. Chase offers more savings account options than American Express.
- Digital platform. Chase has mobile banking with a cardless ATM access feature.
- Signup bonuses. Earn a bonus when you open a qualifying Chase account.
Cons
- Lower interest rates. Chase doesn’t offer any rates higher than 0.05%.
- Branches in 28 states. Chase has more locations than Amex, but face-to-face banking options are limited depending on your location.
- Monthly service fees. All accounts except the Chase High School Checking account have a monthly service fee ranging from $6 to $25. But you can waive the fee if you meet certain requirements.
- Higher minimum deposits. A $1,000 minimum deposit is required to open a CD with Chase.
American Express vs. Chase savings accounts
Winner: American Express
American Express vs. Chase checking accounts
Winner: Chase
American Express vs. Chase certificates of deposit
Amex has higher APYs and lower monthly fees than Chase, making it the clear winner in the CD category.
Winner: American Express
American Express vs. Chase other products
Both institutions offer a long list of products, but Chase offers a wider selection than American Express.
American Express
- CDs
- Personal and business credit cards
- Personal and business loans
- Insurance
Chase
- CDs
- College 529 plans
- IRAs
- Mutual funds
- Auto loans
- Personal and business credit cards
- Mortgages
- Commercial banking
American Express vs. Chase branches and ATMs
American Express | Chase | |
---|---|---|
Branches | 0 | Nearly 4,900 |
ATMs | 0 | 16,000 |
Customer service |
|
|
Winner: Chase
American Express vs. Chase special features
American Express beats Chase if you want a high interest-bearing savings account or CD. But Chase wins if you’re looking for a checking account.American Express
- Higher interest rates
- Better savings and CD options
- No monthly fees
Chase
- Checking account options
- Multiple signup bonuses
- ATM locations
Winner: Tie
Bottom line
Chase offers a traditional checking account, while American Express has better rates on its savings accounts. They’re both good options depending on your needs, but you may want to shop around for other bank accounts that may offer better features and even higher interest rates.Frequently asked questions
More guides on Finder
-
BMO Harris Bank products: Checking, Savings and CDs
BMO Harris Bank offers various saving and checking options and an extensive ATM network.
-
Compare 19 banks that offer early direct deposit
Banks that offer early direct deposit can benefit your financial life in several ways.
-
Huntington 25 Checking account review
A checking account that comes with free checks and complimentary credit score and identity monitoring services.
-
Quontic Bank High Yield Savings account review
A savings account with a competitive interest rate and comes with an ATM card.
-
Quontic Bank Money Market account review
The Quontic Bank Money Market account lets you write checks, make debit card purchases and earn interest. Find out its pros, cons and account eligibility requirements.
-
Regions Savings for Minors review
This account has no fees and a low minimum deposit, but it earns little interest.
-
How to beat financial stress by controlling your finances
Take control of your money stress by learning to prioritise and plan your financial goals.
-
Chase Secure Bankingâ„ account review
A checking account with minimal fees but has an unavoidable monthly service charge.
-
Key4Kids Savings account review
Key4Kids Savings account is best for kids wanting more access to their money.
-
Golden 1 Credit Union Freedom Checking account review
A spending account geared toward students with a B average or higher.
Ask an Expert