Understanding Your FDIC Insurance Coverage




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 are 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. To learn more about how beneficiaries can expand your coverage, please visit the calculator tool at FDIC.gov.

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 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.gov.

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 per depositor, per insured bank, per ownership category.

Learn More at FDIC.gov

* 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.


** 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.


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 Consumer Deposit Account Agreement and Savings Schedules for additional terms and conditions and Truth-in-Savings disclosures.


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.