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I could tell the customer service agent had been sleeping and just woke up when I first called to open this account. They didn't know the difference between a hard and soft inquiry. I called back the next day and was told that a hard inquiry would not be made to open the account. (still unconfirmed) I put $250k in my account and let it sit for a month, but they never updated my balance to reflect any interest earned. I tried to withdraw the money to my wife's bank account, which is allowed per their Deposit Account Agreement, but they refused. Even though I offered to provide proof that I have the authority to deposit, withdraw and exercise control over the funds in the account, American Express violated their own terms and conditions and insisted it must be my own personal account in my name that funds were being transferred to. They had absolutely no legal or ethical ground to stand on. I cannot stress enough that nobody should do business with any bank, such as American Express, that doesn't adhere to their own terms of service.…show more
I've had this account for about 3 years and I love the fact that it's very easy for me to transfer money in and out of it by linking my checking account to it that I have with a different bank. I also love that there are no fees for this account and that the interest is pretty high compared to regular savings accounts. I’ve seen other high yield savings accounts at other banks that have a slightly higher interest rate but I prefer to stick with this one due to a sense of security of American Express as well as ease of use.…show more
This is a great deal for a high return savings account. I switched to this account after the 2009 bank bailout crisis as my local bank was merged into a mega chain that I did not like. The main thing that was difficult in transitioning to amex was getting used to _NOT_ having _ANY_ brick and mortar branch to walk into. Making deposits was initially cumbersome, but their new mobile app makes it much easier (ability to photograph checks) and faster than when I first started with them. The _NO MINIMUM BALANCE_ was the major selling factor for me, rarely will you find this in a high yield savings account anywhere else. Love it for non brick and mortar savings.…show more
As an Amex cardmember to begin with (I carry an Everyday Blue), they were my first choice when I was looking at high-yield online savings to supplement my 529 account for college savings. Actually, even in these times when savings accounts are paying pittances for interest, their rate isn’t that much less than my guaranteed 529 return! Add to that the protection and customer service you get from Amex, and it’s really a no-brainer. I haven’t had to have any problems resolved or dispute anything (for either the savings account or the cashback card, for that matter); been a perfect CS experience to date.…show more
I opened my American Express Savings account about one year ago. I have had an American Express Credit Card for several years but always kept my savings at a commercial bank where I earned virtually nothing in interest. The American Express savings account pays approximately 0.80% interest; that is roughly 8 times what I earned at my previous bank! I have never had any issues with making withdrawals or deposits online, and I can easily view my account activity from their user-friendly website. I would highly recommend American Express savings as a strong alternative to a normal commercial savings account.…show more
I have had this account for years now, and it has helped me save a bunch! Along with the interest rate & APY that it has, plus never incurring any fees, I love it! I can add direct deposit to the account, and link it to other accounts if I want to transfer money in or out of the account. It's definitely assisted me in saving for the rainy days. I picked American Express as well since I have also used Serve in the past for other services, so that was a plus as well. I am definitely satisfied with this account and hope to continue saving with it in the years to come!…show more
After landing a new job in my career last year, I decided to seek out a savings account that would provide me with good returns in order to help myself down the road. I decided to sign up for American Express' High-Yield Savings Account because of the interest rates and high yield. I also chose American Express because I have used multiple services that they provide over the years (including Bluebird and Serve), so I have invested trust in the company. As a fan of online banking and American Express, it is very easy to manage my finances between my accounts. I want to also note that customer service is easy to work with. I accidentally opened the wrong account, and I was very surprised that customer service was able to immediately cancel the erroneous account within minutes instead of days.…show more
After building our savings back up to a solid level following the purchase of our home in 2011, my husband and I were getting tired of the tiny interest deposits on our Bank of America basic savings account. We opted for the American Express High-Yield Savings Account because it offered a 0.85% interest rate, which was phenomenal compared to what we had before! The rate is currently at 0.80%, but we're still very happy with that number. I was hesitant to use an online bank, but the electronic transfers between our Bank of America checking and this AmEx account are so easy. I had a brief misunderstanding at the opening of the account and accidentally generated a duplicate transfer from our checking. I called customer service and was put through right away to a real person who was quickly able to help me navigate the online interface (which is very simple and user-friendly). So, even though AmEx doesn't have physical banks, I know that I can get good service from a real person if I need it, that the transfers always process correctly, and that I'm earning a respectable amount of interest on a savings account.…show more
Now Once I got to the point that I had some time to build up a decent financial nest egg, I wanted to spread some of it around, investing and saving. I chose the American Express High-Yield Savings Account because I was already an American Express credit cardholder and because the account is what it says it is: high-yield. Few options offered a better return on interest (and I have enough money now to where that actually matters), and most of those which did wanted monthly fees which would end up eating a large portion of what I was making from interest. The Amex High-yield account was the best option I could find and I've been totally satisfied.…show more
I recently got a promotion that would provide me with some extra money every month. I wanted to be a responsible adult and save the money but I wasn't comfortable storing the money with my regular bank because I was afraid I would spend it. I also wasn't comfortable with putting my money in a CD or any other type of hard to access investment. When it came down to it, I picked American Express, I have an AmEx card and I liked that they offered quality customer service as well as one of the highest interest rates available on their High-Yield Savings accounts. Sure, .85% isn't as great a rate as what we used to have in the USA but it's the best today so it did have some sort of influence on my decision. The thing I love about the account is that my money is earning interest, and is still easily accessible in case of an emergency (although there is a 3-4 day wait for withdrawals). The only downside to the account would be the website. It's a bit drab, and honestly doesn't have the easy to use bells and whistles functionality of some sites that offer similar products like Ally or ING. While this isn't a deal breaker by any means, it would be nice if the site was more user friendly and modern but as long as my money is safe, I'm okay with it's basic appearance.…show more
In the event that in a given week, for this product, there were multiple applicable rates in our database based on different criteria, the above graph reflects the lowest interest rate recorded. Before submitting an application, always verify with the issuing institution (i.e. bank, credit union, other lender) the rates, fees, and all terms and conditions accompanying the application.