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Understanding Your FDIC Insurance Coverage

Below is information that can assist you in maxmizing your FDIC coverage for your American Express® Personal Savings account(s).



The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government  that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. American Express National Bank is an FDIC-insured bank and your deposits is insured as long as it does not exceed the allowable coverage limit.

What is My Coverage Limit?


The standard insurance amount is $250,000 per depositor per insured bank for each account ownership category.


Depositors with American Express National Bank may qualify for coverage over $250,000 if they have accounts in different ownership categories (such as "individual" and "joint" accounts).


You can further increase your FDIC coverage by adding beneficiaries to your account. 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 the calculator tool at

FDIC logo

What Funds Are Included In My Coverage?


FDIC deposit insurance covers the balance of each depositor's account dollar-for-dollar, up to the insurance limit, including principal and any accrued interest through the date of the insured bank's closing.


FDIC tools are available to assist you to understand your current coverage. The Electronic Deposits Insurance Estimator (EDIE) lets consumers and bankers know, on a per-bank basis, how the insurance rules and limits apply to a depositor's specific group of deposit accounts - what's insured and what portion (if any) exceeds coverage limits at that bank. EDIE also allows the user to print the report for their records. Link to EDIE Tool.

FDIC EDIE calculator

FDIC Coverage Example


If a married couple spreads their deposits across multiple American Express Personal Savings accounts as both 'individual' and 'joint' owners, they can increase their FDIC coverage from up to $250,000 each to up to $1M between them. And they can increase their FDIC coverage further by naming beneficiaries to their account. Learn more using the calculator at

FDIC coverage example

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Accounts offered by American

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

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*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 average APY is accurate as of October 26, 2020, as published in the FDIC's Weekly National Rates and Rate Caps; average rate used is for deposits under $100,000.


†You may make up to nine (9) withdrawals or transfers out of your High Yield Savings Account during a monthly statement cycle. 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.