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Chosen as one of our best high-yield savings accounts of 2025, the American Express® High Yield Savings account (Member FDIC) offers a combination of solid APY and no fees that make it a standout option for anyone -- especially Amex cardholders -- looking to grow their savings. Whether you're looking to park your emergency fund or grow your savings with a reputable brand, Amex delivers both reliability and ease.
Ready to see if it's the right savings account for you? Let's break it down.
American Express® High Yield Savings
On American Express's Secure Website.
On American Express's Secure Website.
American Express High Yield Savings may not have the highest APY on our list, but it still offers a rate well above average and requires no minimum deposit to qualify for the highest APY. It's a good fit for those who want to save at a competitive rate while avoiding withdrawal limits or minimum balance requirements.
At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.
Our scores are weighted as:
Learn more about how Motley Fool Money rates bank accounts.
American Express doesn't charge any account fees or require a minimum balance for its high-yield savings account, making it an accessible option for all types of savers. There are no maintenance fees, withdrawal fees, or hidden charges, and you can open an account with as little as $1.
While Amex's 3.80% APY (as of February 16, 2025) isn't the highest on the market, it remains competitive, especially among banks that also offer no minimum balance, no minimum deposit, and no fees.
A major perk of the Amex HYSA is the lack of withdrawal restrictions. Many high-yield savings accounts limit the number of withdrawals per month -- often capping them at six -- or impose limits on the amount you can take out at once. Amex doesn't have these restrictions, giving you full access to your money whenever you need it.
While this account is a solid choice for almost anyone, it's particularly well-suited for existing Amex customers or those looking to integrate into the Amex ecosystem. The mobile app, which previously required separate logins for banking and Amex cards, now allows you to manage all your Amex accounts in one place. Coupled with Amex's strong reputation for security and reliability, keeping multiple accounts within the same system could be a smart move.
Unlike many high-yield savings accounts that compound interest monthly, Amex compounds interest daily. This allows your balance to grow slightly faster over time. While the difference won't be huge for smaller balances, daily compounding can help maximize earnings if you're saving a significant amount.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
Account | APY | Promotion | Next Steps |
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Open Account for American Express® High Yield Savings
On American Express's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
3.80%
Rate info
3.80% annual percentage yield as of February 16, 2025. Terms apply.
Min. to earn: $0
|
N/A
|
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
up to 3.80%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
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Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
3.70%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Feb. 6, 2025. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
|
N/A
|
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
As an online-only bank, American Express doesn't have any physical branches. That means no in-person customer service, no cash deposits, and no face-to-face interactions. While Amex has a strong reputation for customer support, if you prefer banking in person, this account won't be the right fit.
Unlike some competitors, Amex doesn't offer an ATM or debit card for its high-yield savings account. That means you can't withdraw cash directly, making access to your funds a bit less convenient.
If you're using this account strictly for savings -- especially an emergency fund -- this may not be a major issue. But if you prefer quick, direct access to your money, the lack of a card is something to keep in mind. There are still ways to withdraw funds, which we'll cover below, but it does require extra steps.
One advantage of banking with a well-known brand like American Express National Bank is the level of customer service, which is especially important for an online-only bank. Unlike some competitors, Amex provides 24/7 phone support -- a feature that's not as common as you might think among online high-yield savings accounts. Having access to a real person at any time can be a major plus, particularly if you run into issues outside of regular business hours.
For those who prefer chat support, Amex also offers 24/7 live chat, though it's only accessible when you're logged in and is limited to English.
The Amex help center is another resource, but it leans more toward card users than banking customers. If you need detailed information specific to the high-yield savings account, you may have to dig a bit or reach out to support directly.
Overall, Amex's customer service is solid for an online HYSA, offering multiple ways to get assistance.
When it comes to accessibility, Amex offers some flexibility, but also a few hurdles. On the plus side, there are no withdrawal limits, so you can move your money when you need it. However, the absence of ATM or debit cards means getting your hands on physical cash is a bit trickier than with other accounts.
There are a few simple ways to deposit money into your account, and none of them are complicated. You can:
To withdraw funds from your account, you'll need to transfer them to a linked account, which can take up to three business days. You can also request a check to be mailed to you, but that could take even longer. This process might be a bit slow if you need access to your funds in a hurry.
The main draw of banking with Amex is its decades of experience in financial services. You can rest assured that your money is in a safe and reliable place, alongside millions of other users.
Most importantly for your HYSA, your Amex funds are FDIC insured up to $250,000 per depositor, so even in the worst-case scenario, your money is protected. And if something seems off, you can expect quick alerts and responsive customer support to help resolve issues.
For a smooth, worry-free banking experience, Amex is one of the more dependable options out there.
Sound like you? Open an American Express® High Yield Savings account today and start growing your savings effortlessly.
American Express National Bank is FDIC insured, meaning your deposits are protected up to $250,000 per person, for each account ownership category.
Online-only banks are considered safe when they're insured by the FDIC. Since American Express National Bank is FDIC insured and has a strong reputation and history for reliability, you can feel confident your money is safe.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
For rates and fees for the Blue Cash Preferred® Card from American Express, click here