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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

ProductRate / Fee
Savings APY3.90%
12-Month CD APY4.25%
Checking Monthly Fee$0

Rates shown are for illustration. Verify current rates directly with American Express Bank.

Products Offered

Savings Accounts
CDs
Checking Accounts
Credit Cards

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

How to Open a Savings Account
What Is a CD?
Compare Savings Accounts by State
Best Cash Back Credit Cards

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.