RATE CHANGE: Beginning May 31st, 2023, we have increased our High Yield Savings rate to 4.00% Annual Percentage Yield (APY).*
No minimums. No fees. 24/7 customer support.
Earn more interest than your average savings with a High Yield Savings Account.**
Lock in your fixed rate, and watch your money grow with a Certificate of Deposit (CD).
American Express has over 170 years of experience in putting the customer first.
Start banking quickly.
Transferring money between your Savings account and your external bank account is easy to set up and complete online. So you start saving fast.
See FAQs for further details about the transfer process, or contact us 24/7 with questions.
10 Ways to Be a Better Saver
Here are some approaches that could help make a better saver out of even the chronically savings-challenged.
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Frequently Asked Questions
What is the advantage of online banking?
Do I get an ATM card, a debit card, or checks when I open a Savings account?
How are Savings accounts related to American Express Card products?
How can I deposit/withdraw money?
How long does it usually take to transfer funds online?
Can I open an account for my trust or business?
Facts & Forms
†Accounts offered by American
Express National Bank. Member FDIC. Each depositor is insured to at least $250,000 per depositor, per insured bank, per ownership category.
*The Annual Percentage Yield (APY) as advertised is accurate as of . Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.
For a CD account, rates are subject to change at any time without notice before the account is funded. The rate received will either be (i) the rate reflected during your application process or (ii) the rate being offered when your CD is funded, whichever is higher. All CDs must be funded within 60 calendar days from the time we approve your application or will be subject to closure. The interest rate and Annual Percentage Yield (APY) will be disclosed in your account-opening documents, which you will receive after completing your account-opening deposit. After a CD is opened, additional deposits to the account are not permitted. Early CD withdrawals may be subject to significant penalties which could cause you to lose some of your principal. Please see the Deposit Account Agreement for additional terms and conditions and Truth-in-Savings disclosures.
**The national rate referenced is from the FDIC's published Monthly Rate Cap Information for Savings deposit products. Visit the FDIC website for details.
‡For purposes of transferring funds, business days are Monday through Friday, excluding holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Deposit Account Agreement for more information.
♢Calculations are estimates of expected interest earned. Actual results may vary, based on various factors such as leap years, timing of deposits, rounding, and variation in interest rates. The first recurring deposit is assumed to begin in the second period after any initial deposit.
§IRA Contributions are subject to aggregate annual limits across all IRA plans held at American Express or other institutions. IRA distributions may be taxed and subject to penalties based on IRS guidelines. Required minimum distribution, if applicable, is only relevant to this IRA plan and does not take into consideration other IRA plans held at American Express or other institutions. Please see IRS.gov for more information. We recommend you consult with a financial or tax advisor when making contributions to and distributions from an IRA plan account.