
Whenever you plan to open a Savings account, American Express is a bank account you are relying upon. With American Express banks with a High Yield Savings Account, you can earn more interest than what you normally earn on your average saving account.
Opening an American Express Savings Account (HYSA) ensures you help to grow your own money at a rate that is higher than the national rate.
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Reasons to Bank with American Express
Accessing your savings account is always easy and convenient with complete online and supporting 24x7customer services.
Your savings account is always at your fingertips with their best in online banking feature, their competitive rates, best customer support in the business, their bank safety and security and their Customer always comes first attitude.
Benefits of American Express High Yield Savings account

• Competitive rate on savings account in comparison to other banks
• No minimum deposit requirements
• No monthly fees to maintain the bank account
• Strong APY
• Up to 9 withdrawals or transfers per statement cycle without any cost.
• 24/7 customer support availability.
• Helpful “Tips & Tools” section on the website to review and compare the savings and benefits in comparison to another bank.
• Easy access to your money, round-the-clock using online banking
• FDIC insured
• Earn interest on the average daily balance and get it deposited in your account on monthly basis.
• Both online and mailing statement features as per your preference.
Amex HYSA Interest rate

According to NerdWallet, currently, American Express High Yield Savings Account is ranking among the best with the combination of above-average rates and consumer-friendly features by giving a 0.40% annual percentage yield.
American Express High Yield Savings account Fee
No Minimum deposit is needed into the account and the withdrawal is free as well with the American Express High Yield Savings account.
Prime benefit and the Application process

- The account opening will not take much of your time as the process is completely online. For Verification, American Express uses your personal details to check public records ensuring it does not impact your credit in any possible way.
- After you apply, you get the confirmation email with all the details using which you can register your account online.
- Once logged in after signing in, it may take up to 2 days to link your external, bank account. You can start depositing the money from the other bank or can also mail the check.
Transferring money between your Savings account and your external bank account is easy to set up and is online. So, opening a savings account ensures you start saving quickly and efficiently.
American Express Bank Customer care support
American Express’s website lists a FAQ section with all the possible queries and questions, but if you still need more assistance, you do have choices. You can get the support through their customer service toll-free number 1-800-528-4800, which is available 24/7, or you can write them at
American Express National Bank
P.O. Box 30384
Salt Lake City, Utah 84130
As the banking is completely online, they do not have in-person support available yet. Till now they are available to assist you over the phone and not via chat online for their Credit card service.
Your Cash Access

With a brand like American Express, you get greater access to your money whenever you need even in the coronavirus pandemic. But if you need the cash withdrawal on daily basis, this is not the preferred account you are looking for.
As there are certain limitations with American Express High Yield Savings Account, this account gives you a limited withdrawal option, and as per that you can make a total of 9 transactions per monthly statement cycle.
Other savings account from different banks are allowing unlimited withdrawals or transaction at the moment. However, you can make maximum deposits into their high-yield savings account with no limit of transaction.
You can easily make transfers and deposits from your external bank account by simply setting it up within a few minutes online.
After you link your external account which could take upto maximum of 2 days’ time, transfers are completed in less than 24 hours. Getting a monthly statement is also an option between getting the online statement or receive it via mail with no extra cost.
Conclusion
Amex high yield savings is the best deal for customers who are only looking for a high-yield savings account and not a full-fledged banking system.
HYSA offers an average CD rate ( the rates are subject to change anytime without prior notification) for the most part, but you still can earn good interest at a competitive rate if keeping the deposits for the long term.
There are a few lacking with this bank when we relate to HYSA as it doesn’t have a mobile banking feature available yet and you only can deposit the money by login into an online account or via check.
As you also miss the checking account feature, you may have to rely on another bank for the direct deposit which may actually be a hassle full process, but if you are happy to be with it, you are good to go.
Checking for Credit cards, you should surely check our details on the American Express Platinum card account.