This review was updated June 7th, 2018. Review The Motley Fool's advertiser disclosure.

American Express® Personal Savings from American Express National Bank matches the criteria we value most in an online savings account, including a high APY and low fees. We're also enthusiastic that American Express is broadening its offerings beyond credit cards, where the bank has amassed a legion of fans. These are a few reasons why we picked it as one of the best high-yield savings accounts.

Bank Name APY Min. Opening Deposit Key Features

American Express National Bank



Member, FDIC


-High APY

-$0 monthly maintenance fees

-$0 opening deposit

-$0 withdrawal limit fees

RELATED >> Compare hundreds of savings rates to find a high yield

What we like about American Express® Personal Savings

  • High APY -- 1.65% is among the highest APY's offered by major online providers and it far outpaces the national savings account average.
  • $0 monthly balance requirement -- Many savings accounts require account minimums either to earn interest or to open a saving account. American Express® Personal Savings account doesn't require either.
  • $0 monthly maintenance fees -- Online banks can reduce the overhead costs of maintaining a brick-and-mortar presence, which allows them to pass on the savings to customers, many times, in the form of no monthly maintenance fees.

What could be improved for American Express® Personal Savings

  • ATM card -- The savings account does not include an ATM card, which does limit withdrawal options, and is offered by some competing providers.
  • Mobile app -- Some competing online savings accounts offer customers a mobile app experience that allows for mobile account use and electronic check deposits.

WANT YOUR SAVINGS TO EARN MORE? >> Check out current CD rates

How to fund an American Express® Personal Savings account

Account holders have the flexibility of funding their new account via electronic transfer between banks, wire, and mailing a physical check.

How to withdraw your money

Similar to funding options, account holders can withdraw funds for free via electronic transfer between banks, or a wire or mailing a physical check.

Other high-yield savings accounts to consider

American Express® Personal Savings may be a slam dunk for you but we realize that not all savers have the same needs. We suggest you compare high-yield savings accounts and review a few hand-picked options below.

Feature American Express® Personal Savings Synchrony Bank High-Yield Savings CIT Bank Money Market
APY 1.65% 1.75% 1.85%
Min. opening deposit


$0 $100
Bonus $0 $0 $0
Monthly maintenance fee $0 $0 $0
Withdrawal limit fee $0 $0 $0
ATM card No Yes No
Free ATMs N/A $5 monthly rebate N/A
Mobile app No Yes Yes
Mobile deposit No Yes Yes
Bank review --  Synchrony High-Yield Savings review --

Final take

American Express® Personal Savings account nails what we think are the essentials for an online savings account. The competitively high APY can help savers achieve their money goals faster and the fee-savvy nature of the account ensures that savers pocket the most interest earnings. The main downfall is the lack of a mobile app, which could be a deciding factor in whether this high-yield savings account is best for you.

The Motley Fool's Golden Rule is our north star, and we'll guide you to best-in-class offerings, regardless of advertising relationships. We value editorial independence, and reviews are not influenced by compensation. Compensation may influence placement within our list of the best savings accounts, but not inclusion. Click here to read more about how we pick the best banking accounts. We work feverishly to maintain current offer details and some offers may vary from what's included on this page. Review bank sites for full details on costs, fees and other important details before opening an account. The Motley Fool has a disclosure policy. The Motley Fool has no position in any of the stocks mentioned.