American Express High Yield Savings Account
When people hear "American Express," many first think of credit cards. But Amex also offers online savings accounts and CDs through American Express National Bank, Member FDIC. Among these, the American Express High Yield Savings Account is a solid option for everyday users looking to set aside idle cash or emergency funds.
For those who want to separate money temporarily sitting in checking to earn interest, without being tied down by minimum balances, monthly fees, or complex requirements, the Amex HYSA is worth considering. Click to learn more>>
- Current highlight: 3.00% APY with no monthly fees or minimum deposit (Powered by Money.com)
The American Express High Yield Savings Account currently offers an APY of 3.00%. You don't need a high balance to earn it, and there is no minimum deposit requirement. In other words, whether you start with $100, $1,000, or gradually add more over time, your balance earns interest at the disclosed APY.
Of course, the APY is variable and may go up or down with market rates. Before applying, be sure to check the real-time APY and terms shown on the official American Express page.
- You don’t need an Amex credit card to apply
This account is a deposit product offered by American Express National Bank—not a credit card. Applying for an Amex HYSA does not require you to already hold an American Express credit card. If you're already an Amex cardholder, you can manage both your credit card and bank account together by logging into the Amex app or website, making the experience more streamlined!
- Key advantages
The biggest strength of the Amex HYSA is its simplicity. There are no monthly fees, no minimum opening deposit, no minimum balance requirements, and you don’t need to set up direct deposit to earn the disclosed APY. For anyone who doesn't want to spend time navigating complex bank promotions, this account is easy to understand.
Additionally, American Express is a well-established financial brand in the U.S., and Amex Savings offers online and phone customer support. For some users, keeping cash with a familiar major brand feels more reassuring than with a lesser-known online bank.
- Things to know
The Amex HYSA is a purely online savings account. It does not come with an ATM card, debit card, or checkbook, so it’s not suitable for everyday spending.
Overall, the Amex HYSA is a good fit for those who want to save emergency funds, short-term cash reserves, travel money, or set aside funds for a home, insurance, or taxes. It’s also ideal for people who prefer not to jump through hoops like direct deposit requirements and simply want a straightforward, high-yield savings account.
Note: This article is for general informational purposes only and does not constitute banking, tax, legal, investment, or financial advice. The American Express High Yield Savings Account is offered by American Express National Bank, Member FDIC. Please read the official terms carefully before applying, and evaluate whether it suits your cash flow needs, liquidity requirements, and risk tolerance.
