American Express Bank Review 2026
American Express offers high-yield savings accounts and CDs through its online banking platform. Backed by one of the most recognized financial brands in the world.
Founded
1850
Headquarters
Salt Lake City, UT
Total Assets
$120 billion
Branches
Online Only
BankingDeal Rating
Based on rates, fees, features, and customer satisfaction
4.2
out of 5.0
Rates & Fees
| Product | Rate / Fee |
|---|---|
| Savings APY | 3.90% |
| 12-Month CD APY | 4.25% |
| Checking Monthly Fee | $0 |
Rates shown are for illustration. Verify current rates directly with American Express Bank.
Products Offered
Pros & Cons
Pros
- +Competitive high-yield savings rate
- +No monthly fees
- +Trusted global brand
- +Strong credit card ecosystem
- +FDIC insured
Cons
- -Limited banking products
- -No physical branches
- -Checking account is relatively new
- -CD rates not always the highest
Our Verdict
American Express Bank is a solid choice for those who prefer online banking and want competitive rates without monthly fees. Competitive high-yield savings rate, making it a strong contender in the online banking space. With a savings APY of 3.90%, it offers competitive returns on your deposits.
Related Resources
Frequently Asked Questions
Is American Express Bank a good bank?
American Express Bank has a rating of 4.2/5 on our scale. Competitive high-yield savings rate. However, limited banking products. Whether it is right for you depends on your specific banking needs and priorities.
What is the savings account APY at American Express Bank?
American Express Bank currently offers a savings APY of 3.90%. This is a competitive rate compared to the national average. Rates are subject to change. Verify current rates directly with American Express Bank.
Does American Express Bank charge monthly fees?
American Express Bank offers checking accounts with no monthly maintenance fee.
What products does American Express Bank offer?
American Express Bank offers Savings Accounts, CDs, Checking Accounts, Credit Cards. As an online-only bank, all services are available through their website and mobile app.
Where is American Express Bank headquartered?
American Express Bank is headquartered in Salt Lake City, UT. Founded in 1850, American Express National Bank has grown to manage $120 billion in total assets. It operates exclusively online with no physical branch locations.