Any concerns about safety of deposits in excess of FDIC coverage? This question is about the American Express Personal High-Yield Savings Account

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Any concerns about safety of deposits in excess of FDIC coverage?

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This question is about the American Express Personal High-Yield Savings Account

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WalletHub, Financial Company

@WalletHub • 05/06/16

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You should call American Express customer service at 800-446-6307 to find out if the bank has additional coverage that will cover all deposits over the FDIC limit. You should also ask the bank if it participates in the Certificate of Deposit Account Registry Service. Please find out more details on how this service works here: https://www.cdars.com/home/how-cdars-works/.

This answer was first published on 05/06/16. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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