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American Express High Yield Savings Review

Earn more interest than your average savings account

Reviews 4,097
American Express National Bank
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American Express National Bank
American Express National Bank
Reviews 4,097
Alex Mcomie
Jan. 24, 2024
2 min read
Alex McOmie
American Express National Bank Summary
American Express National Bank, Member FDIC, is one of the largest credit card companies in the US, offering excellent rewards and customer service for years. American Express online banking options are a great choice for anyone interested in an online-only banking experience. With a cutting-edge design, relatively high-interest rates, and no-fee banking, American Express has everything most users are looking for in an online banking platform.


  • No minimum deposits
  • FDIC coverage
  • No Fees


  • No debit card
  • No check scanning

American Express National Bank at a glance

Editorial score


No fees at all


FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication

Customer service

24/7 service with multiple communication options, dedicated fraud team

Online experience

User friendly site with full online banking capabilities

Mobile experience

User friendly mobile app that offers most mobile banking features, may not be available on all devices

American Express National Bank American Express National Bank Visit American Express

Advantages Over Regular Banks

Online banking offers a higher level of convenience compared to traditional banking options. These are just a few of the main reasons to consider switching to online banking through American Express.

High-Yield Savings Accounts

If you’re looking for a way to save money through online banking, American Express National Bank has a lot to offer. Their high-yield savings account currently comes with a 4.35% Annual Percentage Yield (as of Mar 4th 2024).

Online Access

With American Express online banking, you’ll be able to connect your accounts with as many as three external accounts. The online banking portal also supports recurring deposits, making it easy to move money between your accounts.

You can access your accounts 24/7 in online banking to make transfers, check balances, get help, and more. American Express also allows customers to mail physical checks for deposit into their accounts along with automatic deposits. The online banking portal also supports recurring deposits, making it easy to move money between your accounts.

What’s Missing?

With that being said, online banking can’t offer everything that’s available in a conventional bank. For example, American Express bank accounts are managed separately from credit cards, so you’ll need to create two online accounts in order to manage them. Most traditional banks provide more accessible ways to integrate your bank account with a credit card from the same institution.

Similarly, American Express offers savings and checking accounts, but you cannot move money between them. Withdrawals take one to three business days, but that still requires some advanced planning. 

Interest Rates and Fees

Fees are another area in which most conventional banks lag behind their online counterparts. Traditional banks typically charge a wide range of fees, including statement fees, ATM fees, minimum balance fees, overdraft fees, and more.

On the other hand, American Express online banking doesn’t charge any fees at all. You won’t have to keep a minimum balance or meet any additional requirements. In other words, you’ll save money without having to go to any extra effort.

Favorable interest rates are one of the main reasons to switch to online banking. As described earlier, American Express provides top rates on both certificates of deposit and high-yield savings accounts.

High-yield savings accounts pay out 4.35% in Annual Percentage Yield (as of Mar 4th 2024) , and there aren’t any fees or penalties for withdrawals. 

Customer Service

Customer service can be unpredictable at both traditional and online banks. Fortunately, American Express offers consistently excellent customer support, making it easy to resolve issues quickly.

If you run into any problems with your account, check the Help Center for detailed answers to various frequently asked questions. From there, you can call American Express, complete an online form, and wait for them to return your call, or chat with an agent. Customer support is one of the main advantages of American Express over many conventional banks.

Mobile Apps

American Express provides a mobile app for its online banking interface.


Like other major credit card providers, American Express uses powerful security practices to keep your information safe. From suspicious activity alerts to account monitoring, automatic session timeouts, and unique personal security keys, you’ll have everything you need to help protect your money and personal data.


While American Express comes with a few notable drawbacks relative to some other online banks, it offers advanced technology, favorable terms, and unique services. Unless you need a checking account or digital check scanning, the competitive interest rates, customer support options, and impressive security measures make it a great all-around choice for saving money online.

American Express National Bank American Express National Bank Visit American Express

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any savings product issuer.

Alex McOmie
Written by
Alex Mcomie
Alex serves as the Managing Editor for Money Done Right and covers personal finance topics for Eleven Writing. He’s particularly interested in the way seemingly small adjustments can transform a person’s financial outlook. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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Trustpilot reviews
See what some customers are saying about American Express National Bank
Bad • Reviews 4,097
We upload 100 to 400 Trustpilot reviews to our website daily, displaying them by default from "best" to "worst". You have the option to adjust the sorting criteria. If you wish to see all reviews, you can visit Trustpilot's website here.
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azizul rehman
4 days ago
10-2-24 i made my approved card form…
10-2-24 i made my approved card form and got the credit card with the legal account and the are my best available
Ashford Bain
5 days ago
Great support, great team
Very helpful, quick and empathetic customer service. I come to associate AMEX with good customer experience. Recently having had two AMEX cards get used by a thief (took my phone...) they were quick to respond with resolutions and unlike every other bank I've dealt with they offered some kind words. I've been 8 years long as a customer so far and I'll easily be their customer another 8 years.
1 week ago
excellent customer service
Can’t understand the reviews here. Had nothing put excellent customer service with American Express. Calls and online chat services answered almost immediately. Always get through to someone who can help first time too - no passing around like every other company seems to do. Also resolve disputes with no fuss - had a charge back completed within 48 hours of raising my complaint!!
Fausto Guidolin
1 week ago
American express verde. OK
Utilizzo American Express verde per la mia attività, tutto perfetto. Ok per rifornimento carburante, On-line e alcuni supermercati. Servizio assistenza buono.
1 week ago
Quality card with quality support and decent cashback offer.
Have the platinum cashback with annual fee card, have had it since around 2018, every summer I get a decent 'discount' off my statement with the cahsback rebate, chargeback has been used once on a non-communicative company, but elsewhere the threat of it gets results. Only complaint, and it is only the one, is that direct debits are taken about a week before the amount is due.