High Yield Savings
CDs
IRAs
Tips & Tools
SupportINTEREST RATE CHANGE: Beginning May 25, 2022, we have increased our High Yield Savings interest rate to 0.65% APY.*
No minimums. No fees. 24/7 customer support.
High-interest savings accounts help you save more – for whatever you save for.
American Express has over 170 years of experience in putting the customer first.
No fees + no minimum balance
Whatever your balance, you won’t get charged a fee. With no minimum balance, no deposit is too small.‡
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.
- Open an Account in minutes. To verify your identification, we’ll use your personal details to check public records – without affecting your credit.
- Register your online savings account after you receive your confirmation email (within minutes of applying).
- Sign in and fund your new account by linking your current bank or mailing a check. Linking your external account can take up to 2 days. Transfers typically take less than 24 hours once linked ‡.
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?
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Accounts offered by American
Express National Bank. Member FDIC. Each depositor is insured to at least $250,000.
*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 opened. Your rate will be fixed on the business day‡ we receive your completed application, provided we receive your deposit within 30 days after your application is approved. 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.
†You are generally permitted to make up to nine (9) withdrawals or transfers out of your High Yield Savings Account during a monthly statement cycle. However, please note that there are strict rules for withdrawing money from an IRA plan (including an IRA High Yield Savings Account) before retirement age without incurring a penalty. Read More in FAQs.
‡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 to be processed on the next business day.
♢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.