: American Express® High Yield Savings
- No monthly fee
- Competitive APY
- No minimum balance
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American Express offers two savings options:
Use this interactive table to compare American Express savings accounts.
American Express has a full suite of financial products, including:
Amex savings accounts have these benefits and drawbacks:
No. American Express was offering 25,000 membership rewards points to eligible Amex credit cardholders who opened a savings account, but this bonus expired in July 2020.
No. American Express is in the process of connecting all its systems, but at this time you can’t access your savings account in the Amex mobile app. Instead, you’ll need to go to the webpage and log in using your credentials.
Unfortunately, American Express doesn’t receive a review from Trustpilot. It has a TrustScore of 3.1 out of 10, based on 225 customer reviews. Customers said that charge disputes were handled professionally but complained of long wait times to speak with customer service.
At the Consumer Financial Protection Bureau, a whopping 6,845 complaints were targeted at American Express’ credit cards. Only 60 complaints came in about Amex’s savings account and CDs, most of which came from customers saying their accounts had been closed without requesting it.
American Express user reviews
While Amex certainly holds its own on the list, it doesn’t quite compare to the nation’s leading financial provider, Bank of America, with over $1 billion in customer deposits and more than 4,000 branches nationwide.
This table shows how Amex’s banking experience compares to other institutions:
If you’re looking for a bank that offers checking and savings accounts, use the table to compare your options.
Opening a personal savings account with American Express comes with several perks, including no monthly fees, high interest rates and online banking. But be prepared for no ATM access, limited transactions and no in-person customer support. Before you make a decision about your next savings account, compare your online options.
Compare key differences between these two big names in banking.
Open an American Express CD and earn interest on your savings.
This online-only Amex savings account comes with a 0.60% APY and no fees, but there’s no ATM access and transfers are limited.
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