Payable on Death (POD) accounts let you designate that funds in your Personal Savings account be payable after your death (and after the death of any joint owner(s) of the account) to one or more surviving individual beneficiaries without having to set up a trust. Beneficiaries named on POD accounts must be individuals; POD accounts cannot be set up in the names of trusts. Certain state law restrictions apply to POD accounts. Please consult an attorney or a qualified estate planning professional before designating your account as a POD account. Personal Savings accounts can only be opened in the name or names of individuals, and not in the names of trusts.
You may designate your individual or joint American Express Personal Savings account as a POD account by using the required Beneficiary Designation Form. You may designate up to six (6) beneficiaries per account. Visit personalsavings.americanexpress.com/contact_us to download the Beneficiary Designation Form.