Account Features and Safety
American Express National Bank accounts are FDIC insured up to $250,000. American Express offers purchase protection and account safety measures. Security systems allow you to use your card with confidence. Card purchase protection helps when shopping.
The American Express High Yield Savings Account offers a competitive rate and provides a safe place to put away money with easy online access. The savings account has no maintenance fees and quick setup.
Scams and Security Alerts
American Express email scams trick customers to click malicious links and enter account information. Scammers use official branding to seem legitimate. Customers receive fake emails mimicking real ones. Do not click links or enter information.
Services and Ratings
American Express Bank offers bank accounts, credit cards, personal loans, and has 37,000 free ATMs. American Express Business Blueprint helps small business owners manage cash flow. The BBB gives American Express no rating due to previously closed complaints.
High Yield Savings Account
Is American Express a good bank?
Our quick take: Yes, the FDIC-insured American Express High Yield Savings Account offers a competitive rate and a safe place to put money away with easy online access, no maintenance fees, and quick setup. You can add cash directly at thousands of locations. At a 4.15% APY, American Express offers an interest rate on savings that is competitive with other online accounts.
Features include:
- 24/7 account access
- No fees to open or maintain an account
- $1 to open an account
- Set up automatic transfers
- Rated 5-star Safe & Sound by Bankrate.com
Deposits up to $250,000 are protected by FDIC insurance. Allows customers to have direct deposit of paychecks, pay bills online, and easily make transfers with up to 3 other banks. This Amex savings account is backed by the FDIC for at least $250,000. American Express has great customer service. No minimum balance required.