American Express High Yield Savings review

American Express High Yield Savings showed 3.20% APY on November 13, 2026, with no monthly fees and no minimum balance, so no deposit is too small to start. Accounts are offered by American Express National Bank, Member FDIC, and each depositor is insured to at least $250,000 per insured bank, per ownership category. Customer service reps are available 24/7 by phone, and transfers can be started around the clock online or by phone. It ranks last here because the account is plain compared with the others: the rate matches Capital One but trails the top five, there are no goal tools like Ally's buckets, linking an external account can take up to two days, and transfers started after 7:00 PM Eastern Time or on non-business days begin the next business day. Amex also sells CDs up to 4.50% APY with terms up to five years, which suits savers who want to lock in part of their balance at the same bank.

Who it is for

Amex cardholders who want a simple account

Price

$0 monthly fees, no minimum balance; 3.20% APY.

No monthly fees + no minimum balance Whatever your balance, you won’t get charged a fee.
Quoted from the vendor pricing page on November 13, 2026.

Key features

• 3.20% APY on High Yield Savings as shown on November 13, 2026
• No monthly fees and no minimum balance
• 24/7 customer service by phone
• Each depositor insured to at least $250,000 per insured bank, per ownership category
• Transfers can be started 24/7 online or by phone

Strengths and weaknesses

• Strength: No monthly fees and no minimum balance
• Strength: Phone support around the clock
• Strength: CDs up to 4.50% APY at the same bank
• Weakness: 3.20% APY is among the lowest on this list
• Weakness: Linking an external account can take up to two days
• Weakness: Transfers started after 7:00 PM ET process the next business day

Key facts

• APY: 3.20%
• Monthly fee: $0
• Minimum balance: None
• FDIC coverage: At least $250,000 per depositor, per bank, per ownership category

Where it ranks

American Express High Yield Savings is No. 9 in our Best High-Yield Savings Accounts verdict and No. 8 in Best Savings Accounts.