![]() Power 2023 Credit Card Customer Satisfaction survey. The company has a reputation for good customer service, as evidenced by its top ranking in customer satisfaction in the J.D. Widely known for its personal and business credit card products, American Express is a large national financial institution providing personal banking, business banking and investment management services. Like the HYSA and IRA savings accounts, the American Express CD has no minimum balance requirement. The American Express® certificates of deposit earns anywhere from 1.00% to 5.00% APY, and terms range from 11 months to five years. Neither account has a minimum balance requirement, but rates differ between the two.ĬDs generally offer higher interest rates than savings accounts but have more restricted accessibility. American Express offers an IRA High Yield Savings account and an IRA Certificate of Deposit. IRA savings accounts are FDIC-insured, tax-advantaged accounts used to save for retirement. Other savings options at American ExpressĪside from its online high-yield savings account, American Express has two other savings vehicles within its personal banking offerings: certificates of deposit (CDs) and IRA savings accounts. There’s no ATM access, but you can always open an Amex checking account for more accessibility.Īmerican Express® High Yield Savings Account It has additional features and benefits for those looking to save as much as possible, including no minimum balance requirements, monthly fees or transaction limits.ĭepending on your preferences, the lack of in-person banking might be a downside to this account. While not the best savings rate we’ve seen, it far exceeds the current national average rate. The American Express High Yield Savings Account is an online-only account with a competitive yield of 4.35% APY. Overview of American Express interest rates And if you’re after the very highest savings account rates, you can do a little better than 4.35% APY. If you prioritize in-person banking, however, an American Express savings account won’t be the best fit. In terms of interest earnings, it’s worth switching to this account if your savings are currently earning less than 4.35% APY. Are American Express savings account interest rates worth it?Īn American Express savings account may be worth it if you prioritize competitive interest rates, unlimited transactions and no monthly fees. With a generous yield of 4.35% and no monthly fees or minimums, this account should be on your radar if you’re interested in upgrading your savings.Īnnual percentage yields (APYs) and account details are accurate as of December 14, 2023. American Express has more to offer than just credit cards - in fact, the American Express® High Yield Savings Account is worth checking out.
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