American Express has no physical locations.
That means youll need to make deposits by mail or on your mobile gadget.
Why choose Amex over a bank with better mobile access, physical locations, or both?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
The account lives up to its name; at 3.30% APY, the account truly is high yield.
Beyond the high interest rate, the American Express savings account is unique in that it doesnt limit transfers.
Thats a beta feature that only current credit card holders can access.
Amex does have an easy-to-use online platform with around-the-clock customer service, as needed.
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Access to funds is limited.
There are no physical Amex locations, so you cant manage your savings in person.
you’re free to choose certificate of deposit terms ranging from six months to five years.
The longer you keep the money in the CD, the more youll earn.
Another feature is the Membership Rewards.
it’s possible for you to redeem those points for deposits into your checking account.
There is no minimum balance or monthly maintenance fee, and you wont get charged for overdrafting your account.
Amex doesnt have physical locations, but you might withdraw cash from 37,000 ATMs nationwide.
American Express: What Else They Offer
You likely know Amex as a major credit card company.
Amex also offers credit cards via Delta Airlines.
you could also take out personal loans via American Expressifyou are a card member.
Loans range from $3,500 to $40,000.
you might also apply for a business loanandbusiness checking.
These retirement bank accounts are tax advantaged and are backed by FDIC (Federal Deposit Insurance Corporation) insurance.
The headline here: no monthly service fees for banking with Amex.
The debit card is also fee-free with one major exception: foreign transactions.
There is a 2.7% transaction fee for international ATM withdrawals and debit transactions.
Power studies in recent years, including recognition for speed.
American Express Customer Service
A hallmark of American Express is its true 24/7 customer service.
Customer Service Phone Number:
1-800-446-6307
Address:
American Express National Bank
P.O.
Weve compared the pros and cons of an account with Amex.
Weve rounded up the answers to the questions our readers are most commonly asking about banking with Amex.
American Express National Bank is a solid choice for credit cards and high-yield savings.
It is an online-only bank that is still missing some key app functionality, though.
For that reason, it probably shouldnt be your only bank.
American Express Bank is insured up to $250,000 per depositor through the FDIC.
Worried about the security of online savings accounts?
American Express National Bank is owned by the same parent company as the Amex credit card.
To open an account, you must simply be a U.S. resident.
The Rewards Checking account launched in 2022.
Is American Express National Bank Right for You?
Contributor Ciara McLaren contributed to this report.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
