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American Express® High Yield Savings account full review

Grow your money at a higher rate than the national rate. Then, learn all about it in this American Express® High Yield Savings account review post!

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by Aline Augusto

01/10/2022 | Updated on 07/22/2022

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Partner Offer through CreditCards.com

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American Express® High Yield Savings account: 0.40% APY! 

Read the American Express® High Yield Savings account full review! Source: American Express®.
Read the American Express® High Yield Savings account full review! Source: American Express®.

American Express® features an account with a 1.15% APY, and you’ll learn all about it in this American Express® High Yield Savings account review!

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How to get American Express® High Yield Savings

Learn how to open an American Express® High Yield Savings account today and start growing your money!

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How to get American Express® High Yield Savings

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APY1.15%
Rates & Fees
Fees$0
Rates & Fees
Perks24/7 customer service
Educational resources
* Terms apply

But it is not only that. By applying for it, you pay no monthly fees, there are no minimums, and you get access to excellent 24/7 customer service.

It is FDIC insured, and you feel peace of mind knowing that you can rely on American Express’s trustworthiness. 

Plus, you get access to tools and resources to enhance your strategies for saving.

How does the American Express® High Yield Savings account work?

If you are searching for a savings account with no minimum required and no fees, you may have just found one.

American Express® offers an account with a higher rate than the national average rate. Also, there are no monthly fees at all, and no minimum balance is required.

And you get some perks, such as 24/7 customer support, a Tips & Tools section where you can get educational resources on how to grow and save money.

The high interest is compounded daily and posted to accounts monthly. And the online and telephone withdrawals or debits are limited to nine per monthly statement cycle.

Furthermore, it is FDIC insured, and you certainly will know the reliability that American Express® delivers. 

American Express® High Yield Savings account benefits

See what are the benefits of the American Express® High Yield Savings account. Source: Unsplash.
See what are the benefits of the American Express® High Yield Savings account. Source: Unsplash.

First of all, there is no minimum balance required, and there are no monthly fees so that you can get a high APY on your savings without costs to zero the interest earned.

Second of all, you get excellent 24/7 customer support and educational resources so you can save and grow your money with confidence.

On the other hand, it can improve ATM access since it doesn’t feature an ATM card.

Also, it could improve the processing time of deposits and withdrawals.

Plus, it doesn’t feature an option to add a checking account.

Pros

  • You can earn 0.40% APY, which is higher than the national average rate;
  • There are no monthly or maintenance fees;
  • You get outstanding 24/7 customer service;
  • You can access the Tips & Tools section for educational reasons. 

Cons

  • It doesn’t feature an ATM card so that you can withdraw funds from ATMs;
  • It takes some days to process deposits and withdrawals.

How good does your credit score need to be?

Unfortunately, we weren’t able to check this information. However, you can pre-qualify without harming your credit.

How to apply for an American Express® High Yield Savings account?

If you want to start the New Year saving and growing your money at a higher rate without paying any fees, an American Express® High Yield Savings account might be an option for you! Learn how to open it!

Logo American Express fundo azul e branco

How to get an American Express® High Yield Savings

Learn how to open an American Express® High Yield Savings account today and start growing your money!

Keep Reading
card

How to get an American Express® High Yield Savings

You will remain in the same website

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Partner Offer through CreditCards.com

About the author

Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by

Aline Barbosa

Senior Editor

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We are an independent, objective, advertising-supported content publisher website. In order to support our ability to provide free content to our users, the recommendations that appear on our site might be from companies from which we receive affiliate compensation. Such compensation may impact how, where and in which order offers appear on our site. Other factors such as our own proprietary algorithms and first party data may also affect how and where products/offers are placed. We do not include all currently available financial or credit offers in the market in our website.

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