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Overview by Heather Farber. Updated April 12, 2024
American Express® encourages saving with your savings account - you won't get an ATM card, debit card, or checks, but you will earn a competitive APY from a well-known brand.
SAVINGS ACCOUNT FEATURES†
While there's no minimum starting deposit, be sure to fund within 60 days for your new account to remain open. Plus, you'll start earning interest right away!
Here’s what you’ll need handy when opening a American Express High-Yield Savings Account:
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Social Security Number (for tax purposes only, it won’t impact your credit score)
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Bank Account number and routing number for transferring funds
It only takes 3 minutes and you can do it right on your phone.† Questions include:
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Contact Info (Name, Primary address, Email address, Phone)
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Date of Birth
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Are you subject to Backup Withholding? (yes/no)
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Employment Status and Occupation
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Estimated Annual Income
All featured companies offer FDIC insurance up to the maximum allowed by federal law.
† Product terms and the application experience are based on the American Express website as of April 12, 2024 and may have changed. Be sure to verify all terms and conditions with American Express prior to applying.
Advertising Disclosure: We may earn a commission if you open an account with a featured company. Not all companies or offers are listed. Compare rates, fees, and terms before deciding.