That’s the same rate American Express currently offers in their personal savings account. American Express might be most known for its credit cards, but it also offers savings products like the American Express® Personal Savings High Yield Savings account. American Express offers high-yield personal savings accounts. I opened my American Express Savings account about one year ago.
I have had an American Express Credit Card for several years but always kept my savings at a commercial bank where I earned virtually nothing in interest. I use to chase rates but then realized nothing is good at 2% or less these days. The following offer is from our partner American Express. A high-yield account offers a variable interest rate that is typically higher than a traditional bank, with a maximum of 6 withdrawals per month.
You’ll get no monthly fees and a high APY, but be ready for no ATM access or in-person customer support. The opinions and beliefs in this article are the author’s alone and have not been reviewed, approved, or otherwise endorsed by the issuer.
American Express Personal Savings Accounts.
In terms of finding the best savings account, it is hard to go wrong with an established institution such as the American Express National Bank.. They follow the Fed and adjust accordingly. User names for the American Express Personal Savings Account require at least two numerals, so I was unfortunately forced to use a non-standard user ID. The American Express savings account pays approximately 0.80% interest; that is roughly 8 times what I earned at my previous bank!
They were 1.5% now 1.25% and soon 1%. After the confirmation, American Express allowed me to create an online user identity for viewing statements and otherwise operating my new bank account.
This type of account is not meant for everyday spending, as ATM cards and checks are not provided. Available nationwide, American Express is offering a 1.00% Annual Percentage Yield (APY) Rate for their High-Yield Savings Account. Amex Savings and Capital One 360 Savings I also had before. Reddit user cowsareverywhere got a pop up in their login about an upcoming American Express business savings account product, slated to launch with a 2.10% APY rate.
I now stick with Ally just simply because I like the way it looks.
Open a bank account, apply for a personal loan or home equity line of credit, or start investing in your financial future with Citi.
American Express National Bank (Member FDIC) is an online bank that offers a high-yield savings account and CDs. Learn more about our range of services.