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American Express® High Yield Savings Account review
The American Express® High Yield Savings Account is a smarter way to save money. It has no fees and yield much more than the regular savings account.
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by Julia Bermudez
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more
Partner Offer through CreditCards.com
Switch from the regular savings account to an HYSA with American Express®
If you’re tired of your old savings account, read this American Express® High Yield Savings Account review to understand how it works.
How to open an AMEX® High Yield Savings Account?
It's your time to have a financial product by American Express. Open your HYSA and make your money grow!
If you haven’t heard about the High-Yield Savings Account yet, you might be losing some money. That’s because a HYSA will pay you much more interest than the regular savings account.
This post will show you how the American Express® High Yield Savings Account works. Take a look at the pros and cons to see if it’s a good option for you.
- APY: earn 1.15% APY. Rates & Fees
- Annual Fee: $0. Rates & Fees
- Perks: Educational content to help you manage your finances; Easy to manage your account online; Get proper assistance 24/7 to help you solve any doubt.
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American Express® High Yield Savings Account: is it good?
Everyone hears about the importance of having a savings account. After all, it is important to save money for the future and prepare yourself for an emergency.
Turns out the world is evolving, and so are bank accounts. Now, in addition to traditional savings accounts, you can choose to have a High-Yield Savings Account (HYSA).
American Express has not been left behind and has already made a HYSA available to its customers. It has zero fees and earns 1.50% on the amount you deposit into your account.
There is no minimum amount for you to open and maintain the account. And, of course, you’ll get FDIC insurance and American Express’ top-notch service.
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American Express® High Yield Savings Account: should you get one?
To help you decide if the American Express® High Yield Savings Account works for you, we have highlighted some pros and cons. But in general, as it requires no minimum deposit and charges no fees, it can be a good choice for most everyone.
Benefits
- No monthly or annual fee
- The APY is 1.50%
- No minimum deposit to open your account
- The customer service works 24/7 and is
- While you save and yield your money, American Express will help you learn how to manage your finances like a pro with their Tips and Tools
- FDIC insurance
Disadvantages
- There is no option to add a checkings account with your HYSA
- If you need to deposit a check, you can’t do it through the mobile app
- You can’t use an ATM to withdraw your money
What is the required credit score?
American Express does not advertise on its website any credit score requirements for new users. As this account is not a line of credit, your creditworthiness has no impact on opening the account.
American Express® High Yield Savings Account application
Are you ready to yield much more on your savings than with your traditional savings account? Keeping your money on your HYSA will grant you liquidity while still earning a little more.
To learn how to open your account and start benefiting from it, read the following content and we’ll tell you how it works.
How to open an AMEX® High Yield Savings Account?
It's your time to have a financial product by American Express. Open your HYSA and make your money grow!
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more
Partner Offer through CreditCards.com
About the author / Julia Bermudez
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