The American Express High Yield Savings Account earns approximately 4.35% APY in 2026, with no minimum balance, no monthly fee, and no ATM card. Here is the full review.
American Express Savings at a Glance
| Feature | Details |
|---|---|
| APY | ~4.35% (variable) |
| Minimum opening deposit | $0 |
| Minimum balance | $0 |
| Monthly fee | $0 |
| ATM card | No |
| Checking account | No |
| FDIC insured | Yes (American Express National Bank, cert #27471) |
| Mobile app | Yes |
| Zelle | No |
Annual Interest on Common Balances
| Balance | APY 4.35% | Annual interest |
|---|---|---|
| $5,000 | 4.35% | $218 |
| $25,000 | 4.35% | $1,088 |
| $50,000 | 4.35% | $2,175 |
| $100,000 | 4.35% | $4,350 |
How to Open
- Go to americanexpress.com/banking or the Amex app
- Click Open an Account under High Yield Savings
- If you have an existing Amex account (card, etc.), you can pre-fill with your details
- Provide SSN, address, and funding info
- Fund the account with an ACH transfer from a linked bank — no minimum required
Transfer Times
- External bank → AmEx: 1–3 business days
- AmEx → external bank: 1–3 business days
- No instant transfer option
What AmEx Savings Does Not Offer
| Missing feature | Alternative |
|---|---|
| ATM card | Synchrony (Allpoint, 55K ATMs) |
| Checking account | Ally (free checking) |
| Zelle | Ally, Wells Fargo, Chase |
| CD bump-up option | Synchrony (bump-up CD) |
| Mobile check deposit | Available via app |
Who Should Use AmEx Savings
Best for: Existing American Express cardholders who want to consolidate into the Amex ecosystem, savers who want a clean no-fee high-yield account without extra features.
Skip if: You need ATM access from your savings, want a checking account at the same institution, or need faster transfer windows.
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