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SupportWhat is the difference between Current and Available Balance?
When checking your savings account, you may have seen two balances: current balance and available balance. Understanding how these balances work can help you manage your account.
Current Balance vs. Available Balance
Monitoring your account balance can help you know what you have available in your account. Here’s a look at the difference between your available balance and your current balance:
Available Balance
This is the total amount of funds that are available for you to use or withdraw.
Current Balance
This is the total amount of funds in your account, but they may not be fully available for use. These funds earn interest.
Why Are the Available Balance and Current Balance Different?
There could be a few reasons why your available balance and current balance don’t add up. These include:
• Pending Transactions - If you have pending transfers that have not yet gone through, this could affect the amount available for use. For example, until a transaction clears, your current balance may show $1,000 but your available balance may only be $500.
• Pending Transfers - If you’re transferring funds to or from your savings account, it may take some time to reflect in your available balance.
• Holds - When you deposit a check or transfer some money into your account, the bank may place a temporary hold on the funds.
Learn More About an American Express Savings Account
To learn more about an American Express Savings Account, visit: American Express High Yield Savings Account.
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About Savings
What it is, how it works and everything in between.
High Yield Savings Accounts (HYSAs)
Understanding Your Account
Quick links to get you—and keep you—on the right track.
Accessing and Managing Your Account
Transfers, Deposits & Withdrawals
Privacy & Protection
Your savings are safe with us. And so are you.
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. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded. [There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you]
** The national rate referenced is from the FDIC's published Monthly Rate Cap Information for Savings deposit products. Visit the FDIC website for details.
1 There is no minimum balance required to open your Account, to avoid being charged a fee, or obtain the Annual Percentage Yield (APY) disclosed to you.
2 The interest rate and Annual Percentage Yield (APY) will be disclosed in your account-opening documents, which you will receive after funding your Account. The interest rate and APY for your CD will be fixed and will either be (i) the rate reflected at application submission 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. After the CD is opened, additional deposits 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 Consumer Deposit Account Agreement and Savings Schedules for additional information.
3 For purposes of transferring funds to or from an external bank, 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 Consumer Deposit Account Agreement and Savings Schedules for more information.
4 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.
5 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.