The American Express ® Personal Savings, Member FDIC, account offers a 1.70% APY (Annual Percentage Yield) rate – as of 1/6/2020. Since the purpose of this account is to save money over time, American Express does not provide checks or an ATM/Debit card to personal savings accounts. According to national averages published the week of July 15, 2019 for deposits of less than $100,000, interest-bearing checking accounts offer 0.06 percent APY, on average, while savings accounts average 0.1 percent, money market funds average 0.18 percent, and 60-month CDs average 1.15 percent. 10 However, as indicated above, there also are options that offer significantly higher APYs. The American Express Personal Savings account interest compounds daily at a variable APY rate and is credited to your account based on your monthly cycle rate. Account holders must fund the account within 60 days, which you can do by setting up a bank transfer or direct deposit to the savings account, as well as by sending a check. In an American Express Personal Savings High Yield Savings account, your money earns 1.70% APY. It isn’t the highest APY you can currently earn from an online savings account listed on our site, but it’s still well above average. The account charges no monthly fee and requires no minimum deposit, making it an affordable account to open. Member FDIC. Each depositor is insured to at least $250,000. *The Annual Percentage Yield (APY) as advertised is accurate as of XX/XX/XXXX. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. American Express® Personal Savings offers Certificate of Deposit (CD) accounts. These accounts have fixed interest rates and have seven (7) maturity terms to choose from. Personal Savings offers CD Terms of 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months. Best savings accounts & rates of March 2020. Here are Bankrate's selections for the best savings account rates from top online banks: Highest Rate: HSBC Direct - 1.85% APY Highest Rate: Vio Bank
With no monthly or annual fees, no transaction or purchase fees, no bill pay fees, and no initial card fee if you order online, the Amex You can also pay via internet banking. This may be convenient if you don't yet have a Creditcard Online account, or if we don't yet have your bank account number. American Express ® Personal Savings Works Seamlessly With Your Current Bank Accounts Easily move money between your current bank accounts and your Personal Savings account. Funds transfers are readily available 24/7. Initiate online or by phone.† Link up to 3 of your current bank accounts. A High Yield Savings Account is a savings account with a variable rate typically higher than retail brick-and-mortar banks. High Yield Savings Accounts are limited to a maximum of six (6) online and telephone withdrawals or debits per monthly statement cycle.
With no monthly or annual fees, no transaction or purchase fees, no bill pay fees, and no initial card fee if you order online, the Amex You can also pay via internet banking. This may be convenient if you don't yet have a Creditcard Online account, or if we don't yet have your bank account number. American Express ® Personal Savings Works Seamlessly With Your Current Bank Accounts Easily move money between your current bank accounts and your Personal Savings account. Funds transfers are readily available 24/7. Initiate online or by phone.† Link up to 3 of your current bank accounts.
You can also pay via internet banking. This may be convenient if you don't yet have a Creditcard Online account, or if we don't yet have your bank account number. American Express ® Personal Savings Works Seamlessly With Your Current Bank Accounts Easily move money between your current bank accounts and your Personal Savings account. Funds transfers are readily available 24/7. Initiate online or by phone.† Link up to 3 of your current bank accounts. A High Yield Savings Account is a savings account with a variable rate typically higher than retail brick-and-mortar banks. High Yield Savings Accounts are limited to a maximum of six (6) online and telephone withdrawals or debits per monthly statement cycle.
What is the difference between APY and Interest Rate? Log in to your American Express savings account. If not registered, sign up for easy online access to view and manage your savings.