Personal Savings American Express Online Banking
- Allows customer to access their AMEX banking accounts online
- Customers will need their AMEX personal savings user name and passwords
- The service is administered by the American Express Company – Contact Personal Savings at 1-800-446-6307
Please note all Accounts offered by American Express Bank are Member FDIC and rates are subject to change at any time without notice before or after a High-Yield Savings account is opened.
American Express Personal Savings Highlights/Lowlights
- A high-yield savings account that still allows the account holder to access funds without incurring a penalty (unlike many brick and mortar banks)
- Perfect for someone who can’t commit to a long-term investment plan
- Employer’s information is required when signing up 🙁
- Initial deposits can be made by linking a checking account or by mailing a payment to American Express
- Two small test deposits will be sent and must be confirmed if opting to send the payment via electronic deposit
- Welcome kits will be mailed to the account holder within the week of setting up the account
- Monthly statements are sent to saving account holders while quarterly statements sent to CD holders
- AMEX will send notification to the customer when the CD is close to maturing 🙂
- Unless the customer instructs American Express otherwise the CD will be automatically renewed with the same terms 🙂
- AMEX offers a 10-day grace period from the date of maturity in which funds can be withdrawn without incurring a penalty
- Both saving and CD accounts are fee free 🙂
- The AMEX saving account can be opened with as little as $1
- Early withdrawal penalties do apply and are based on the terms of the CD 🙁
- Customers are encouraged to set up recurring deposits on a monthly basis from a checking account
- Both account options (Savings or CD) are insured for at least $250,000
- No live chat support at this time 🙁
- Customer are allowed to have six transfers and withdrawals for each billing cycle
American Express is a New York based multinational billion dollar financial firm. The firm is one of the most Admired Companies in the World processing a quarter of all credit card transactions world-wide.
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