While American Express is an advertising partner of HustlerMoneyBlog, the opinions and beliefs in this article are those of the author alone, who makes every effort to ensure the accuracy of the information.
See latest review of American Express Personal Savings here.
For those of you that are looking for a new savings account, American Express National Bank is offering a 2.10% Annual Percentage Yield (APY) as of 12/20/18 for their personal savings account.
This account makes it easy to get the most out of your savings because it features no minimum deposits or monthly fees. American Express National Bank is also FDIC insured where the standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.
Your savings will be protected money so you have nothing to worry about when banking with AMEX. Open this account today with no minimum to discover how much you can save!
Other than the no monthly fees and no minimum balance requirements, their other two best features include no dollar limitations for ACH bank-to-bank transfers and free wire transfers. Many readers have reported about the bank’s fast ACH transfers and their top-notch user interface! Terms and limitations apply.
Table of Contents
American Express Personal Savings Account
- Direct Link to Offer
- Account Type: Personal Savings Account
- Rate: 2.10% APY
- Minimum Balance: $0
- Maximum Balance: $5 million per account
- Availability: Nationwide
- Expiration Date: None
- Chex Systems: Unknown, let us know.
- Direct Deposit Requirement: None
- Additional Requirements: None
- Monthly Fee: None
- Early Termination Fee: None
- Insured: FDIC
- Terms and limitations apply.
With the American Express® Personal Savings Account:
• Earn 2.10% APY on your deposits. Your Personal Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• No monthly fees, no minimum balance.
• 24/7 Account Access
American Express ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
|Push||1-2 days||No Limit||No Limit||3 linked accounts allowed|
|Pull||1-2 days||No Limi||No Limit||6 withdrawals per month|
Editor’s Note: Help us with the table above in the comment section if you have experience with ACH capabilities.
How to Receive American Express Rates
- Open an American Express® Personal Savings Account
- Then on the offer page click on “Apply Now” then fill in the required steps.
- Submit your application – You must be at least 18 years old, have a social security number, a legal US address, and a personal checking account in a US bank.
- Receive Confirmation – You will receive an online and/or email confirmation when your application is approved. Additionally, you will receive an American Express® Personal Savings Welcome Kit in the mail.
- Fund your account – You can fund your account online either by linking your current bank account or by mailing a check.
Why You Should Sign Up for this Account
- No minimum deposit– You can open your account with no minimum and still continue to earn the current APY rate.
- No monthly fees– You’ll be able to earn as much as possible and not have to worry about monthly fees cutting into your return.
- Multiple ways to access your money– Being able to access your account from the internet gives you the ability to transfer money very easily. You can also manage your account using your phone.
- FDIC insured– Your funds will be FDIC insured up to the maximum amount of $250,000 per depositor, per insured bank, for each account ownership category.
Sign up with American Express Personal Savings and take advantage of their great APY rate. Your Personal Savings account earns interest daily and is posted to your account monthly.
Enjoy their competitive rate and other great features like maximum FDIC insurance, no minimum deposit fees, no transaction fees, and no monthly fees. Learn more from their FAQ.
Tell us about your experience and share below in the comments sections. Terms and limitations apply. IF you are not interested or looking for more options, browse the Best bank rates from our exclusive list nationwide!
American Express Personal Savings Account - You earn 2.10% interest rate along with no minimum deposits or monthly fees. Amex Personal Savings has been my favorite Hub account for the past 5 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the Personal Savings website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express Personal Savings include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos UFB High Yield Savings and CIT Bank Savings Builder accounts offer great rates available nationwide. The Discover Online Savings and Chase SavingsSM account have nice sign-up bonuses.
|Discover Bank Online Savings||2.00% APY + $200 Cash||Review|
|Simple||2.02% APY + $500 Cash||Review|
|Betterment Everyday Savings||2.44% APY||Review|
|CIT Bank Savings Builder||2.30% APY||Review|
|UFB Direct High Yield Savings||2.25% APY||Review|