Manage Your Beneficiaries

One critical aspect of estate planning is to name beneficiaries for your accounts.





As with any investment, adding beneficiaries and keeping beneficiary designations current is an important part of your family's future well-being.


For American Express® Savings, you may designate up to six individuals as beneficiaries per account, who will each receive equal shares upon the account holder's passing.


When you use the Beneficiary Designation Form, you will designate your American Express Savings account as a Payable on Death (POD) account. Certain state law restrictions may apply to POD accounts.



You are solely responsible for complying with applicable law in establishing a POD account. We make no representation that designating your account as a POD account is advisable or enforceable. You should consult an attorney or other qualified estate planning professional before designating your account as a POD account.




  STEP 1: Gather Your Beneficiary Information


The first step is to ensure you have the tax ID number (Social Security number), date of birth and mailing address for any beneficiaries you wish to add to your account.





  STEP 2: Add Your Beneficiaries


  1. Log in to Savings and click My Profile from the navigation and Manage Beneficiaries.
  2. Select the account from the drop down menu that you wish to add a beneficiary to.
  3. Click the Add Beneficiary button and enter your beneficiary information in the form.
  4. When complete, click Save Beneficiary. You can now add further beneficiaries to the same account or to a different account by following the same process.



Step 2





  STEP 3: Manage Your Beneficiaries


It is important to ensure that your beneficiary information is kept up to date. You may easily update the beneficiary information or change the beneficiaries named on your account at any time.


  1. Log in to Savings and click My Profile from the navigation and Manage Beneficiaries.
  2. You can then edit beneficiary information, such as their address, or click the Delete Beneficiary button to remove a beneficiary from the account.





Step 3





Important Information To Know About Setting Up Beneficiaries


  • You can add the same beneficiary to any or all accounts by re-entering their information on each account. We currently do not have the ability to automatically add the information from one account to another.
  • Beneficiaries named on POD accounts must be individuals. POD accounts cannot be set up in the names of trusts. 
  • American Express Savings will split the value of your account equally for all named beneficiaries.



  • Beneficiary information is not used in any way unless we are notified of your death.
  • You can increase your FDIC coverage by adding beneficiaries to your POD account. For example, in some circumstances, having six named beneficiaries could provide coverage of up to $1,500,000 on an account. To learn more about how beneficiaries can expand your coverage, please visit

Manage Your Beneficiaries




Accounts offered by American

Express National Bank. Member FDIC. Each depositor is insured to at least $250,000.

Learn More from

*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.


‡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 for more information. We recommend you consult with a financial or tax advisor when making contributions to and distributions from an IRA plan account.