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Link your external bank account

Follow these simple steps to link your Personal Savings account to your external bank account.

External account set up
step 1: Set Up External Account

You may have already performed this step during your application process, in which case you should proceed to STEP 2 below.

To link a new external bank account once your Personal Savings account is active:

  • Log in to your Personal Savings account at personalsavings.com/onlinebanking.
  • Click on the Transfers tab and then click View Your Pending Linked Bank Accounts in the dropdown menu.
  • You will see a button to Link a New Account.
  • You will need to input your external Bank Routing Number and Account Number on the following page - and you have an opportunity to Create an Account Nickname to better identify the accounts in your Profile (Tip: do not use the same nickname as used on your Personal Savings account).

External account set up
Retrieve test deposits
step 2: Retrieve your test deposits

Log into or call the external bank with the checking or savings account you are trying to link to, and identify and write down the  exact dollar amounts of the two small test deposits that will be labeled AXP TEST.

These dollar amounts normally take 2-3 business days to appear in your external account and each will be less than $1.00.

Retrieve test deposits
Enter Test Deposits
Step 3: Verify your test deposits

Now you must verify the test deposits in your Personal Savings account to complete the account linkage.

  • Log in to your Personal Savings account at personalsavings.com/onlinebanking.
  • Click on the Transfers tab, and then click View Pending Linked Accounts in the dropdown menu.
  • Select the corresponding Account Name and click Verify.
  • Enter the two test deposit amounts that you obtained from your external bank and click Submit (Tip: only input the numeric value of the test depost after the decimal, do not input $ or decimal point in the box).

Enter Test Deposits
Link Account Confirmation
All set!

If you initiated your account linkage in your application process, at this point the initial deposit amount you entered on your application is automatically transferred from your external account to your Personal Savings account.

If you initiated your account linkage after your account was active, you are now able to transfer funds between your Personal Savings Account and your external bank account by clicking on the Transfers tab.

You can now easily make electronic deposits and withdrawals at your convenience.

Frequently Asked Questions

Read More in FAQs
  • How long does it take to transfer funds when initiated on the Personal Savings website?

    Pulling Funds from Your External Bank

    • On the day you initiate your transaction on the Personal Savings website, the funds will be reflected in your Current Balance and begin earning interest.  However, due to a hold period necessary for due diligence, the funds will not appear in your Available Balance until the 5th business day‡ after the deposit is initiated.

    Pushing Funds to Your External Bank

    • On the day you initiate your transaction on the Personal Savings site, the amount will be deducted from your Current and Available balance and the funds transfer will be initiated.  The funds will generally be reflected at your bank in 1-3 business days.‡ Please refer to your external bank’s policies on incoming transfers as external banks have differing policies on how quickly they reflect those funds in your account and when they are available for use.

    ​Please Note: These time estimates do not include the time needed to link an external bank account to your Personal Savings account. Learn more about linking external accounts

  • How long does it take to transfer funds when initiated on my external bank’s website?

    Pulling Funds from Your Personal Savings Account

    • If you initiate a transfer to your Personal Savings account with your external bank, we will generally receive the transfer request during non-business hours 1-3 business days‡ later. The transfer will be reflected in your Current Balance and Available balance the following morning. Please note: Depending on your external bank’s hold policy, it may not be immediately available to use.

    Pushing Funds to Your Personal Savings Account

    • If you initiate your transaction with your external bank, we receive the funds during non-business hours‡ and they will be reflected in both the Current and Available Balances, and will begin earning interest the following morning.  It may take 1-3 business days‡ from the time you initiated your transaction until we receive the funds, depending on when your external bank sends the transaction.
  • How can I set up a recurring deposit from my external bank website into my Personal Savings account?

    To set up a recurring deposit from your external bank website, you will need your Personal Savings account number and the American Express National Bank routing number.

    The American Express National Bank routing number is 124085066.

    To get your account number, log in to your account by clicking here. Then select "Show Account Numbers" in the top right corner of the page. Your full account number will display in the dashboard section, under "My Accounts".

    Once you have your account number, you will need to contact your external bank to get the instructions on how to set up a transfer from your bank to your Personal Savings account.

  • How can I set up a direct deposit into my Personal Savings account with my employer or Federal payments (social security, worker's compensation, tax refunds, etc.)?

    You can set up a direct deposit with your employer or for Federal payments using your account and routing numbers. Once you have those numbers, you will need to contact your employer or paying agency to get proper forms and instructions, and use your Personal Savings account details:

    The American Express National Bank routing number is 124085066.

    To get your account number, log in to your account by clicking here. Then select "Show Account Numbers" in the top right corner of the page. Your full account number will display in the dashboard section, under "My Accounts". 

  • Is there a limit to how much money I can put in my account?

    American Express National Bank reserves the right to refuse, return, or limit any deposit you make to your account, and to set a maximum total account balance per depositor, in our discretion. The current maximum total account balance is $5 million.

    Should interest cause your balance to exceed $5M, you will continue to receive interest and your account balance can grow to exceed $5M. However, you will not be able to make any transactions that would result in the balance remaining in excess of $5M. No deposits can be made that would cause the balance to exceed $5M. In order to make an online withdrawal if the account balance has exceeded $5M, you will be required to withdraw an amount that would bring the balance to $5M or less. If you have a balance above $5M and you want to withdraw only a portion of the amount that exceeds $5M, please call 1-800-446-6307 to speak with a representative.

Link an external account

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FDIC

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

Learn More from FDIC.gov

FDIC

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

Learn More from FDIC.gov

*The Annual Percentage Yield (APY) as advertised is accurate as of XX/XX/XXXX. 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 February 10, 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 six (6) 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.