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American Express National Bank Review 2025

Updated January 2, 2025
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At a glance

Overview

American Express National Bank is convenient for AmEx credit card customers who’d prefer to visit one website to manage multiple financial accounts. While the bank doesn’t offer a money market account, its full suite of products offering high yields, including CDs, checking and savings accounts, makes it easy to bring your banking under one roof.

Highlights:

24/7 Customer Service Low Min Deposit No Monthly Fees
4.7
Rating: 4.7 stars out of 5
Bankrate Score
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CDs

Rating: 4.3 stars out of 5
4.3 /5

Checking

Rating: 4.8 stars out of 5
4.8 /5

Savings

Rating: 4.4 stars out of 5
4.4 /5

MMA

Rating: 4.8 stars out of 5
4.8 /5
4.6
Rating: 4.6 stars out of 5
Customer Score
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See all 24 consumer reviews Arrow Right Icon
Sponsored offers
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
3.80
%
APY
APY
Info Icon
As of 2/19/2025
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer:
Bank logo
Member FDIC
Savings Account
3.90
%
APY
APY
Info Icon
As of 2/19/2025
Rating: 4.2 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer:
Bank logo
Member FDIC
Savings Account
3.70
%
APY
APY
Info Icon
As of 2/19/2025
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: It only takes about 5 minutes to open a fee-free account.

Overall

Pros

  • Checkmark Icon

    American Express customers can easily access credit card and bank accounts in one place.

  • Checkmark Icon

    There are no minimum deposit requirements for CDs, the savings accounts or the checking account.

  • Checkmark Icon

    The checking account pays a competitive APY, and account holders earn points for qualifying debit card purchases.

Cons

  • The checking account is only available to customers who have had an American Express credit card for 35 days or longer.

  • No bank branches available.

4.4
/5
Rating: 4.4 stars out of 5
SCORE BREAKDOWN
APY offering:
3.80%
Rating: 4 stars out of 5
4/5
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Minimum balance for APY:
$0.00
Rating: 5 stars out of 5
5/5
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Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
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Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
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Access to funds:
Good
Rating: 4 stars out of 5
4/5
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Pros

  • Checkmark Icon

    The savings account charges no monthly fees and has no minimum balance requirement.

  • Checkmark Icon

    It pays a competitive APY.

Cons

  • There isn’t a way to make cash deposits into American Express savings accounts.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

American Express National Bank
APY
APY
Info Icon
National average APY
How do we get this data?
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4.3
/5
Rating: 4.3 stars out of 5
SCORE BREAKDOWN
APY offering:
3.85%
Rating: 4 stars out of 5
4/5
Info Icon
Minimum deposit:
$0.00
Rating: 5 stars out of 5
5/5
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Range of term lengths:
1 yr – 5 yrs
Rating: 4 stars out of 5
4/5
Info Icon
Early withdrawal penalty:
Good
Rating: 4 stars out of 5
4/5
Info Icon
Offer no-penalty or bump-up CDs:
No
Rating: 0 stars out of 5
0/5
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Offer IRA CDs:
Yes
Rating: 5 stars out of 5
5/5
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Pros

  • Checkmark Icon

    No minimum deposit is required.

  • Checkmark Icon

    American Express National Bank has terms of CDs ranging from 11 months to five years.

Cons

  • Higher yields can be found elsewhere.

  • No special types of CDs, such as penalty-free or bump-up terms, are available.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

American Express National Bank
APY
APY
Info Icon
National average APY
Caret Down Icon
How do we get this data?
Info Icon
4.8
/5
Rating: 4.8 stars out of 5

Pros

  • Checkmark Icon

    There is no minimum balance requirement for the Rewards Checking account.

  • Checkmark Icon

    The account earns a comparatively high yield.

  • Checkmark Icon

    Account holders can earn rewards points for making qualifying debit card purchases.

  • Checkmark Icon

    Rewards Checking customers can access more than 70,000 fee-free ATMs for cash withdrawals.

Cons

  • To be eligible for the account, customers need to have had an American Express card for at least 35 days.

  • You can’t deposit cash into a Rewards Checking account.

How American Express National Bank compares to other banks

Selected bank
American Express National Bank savings account
American Express National Bank Logo
Member FDIC
Bankrate score
Rating: 4.4 stars out of 5
4.4
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Most comparable
Barclays Bank savings account
Barclays Bank Logo
Member FDIC
Bankrate score
Rating: 4.9 stars out of 5
4.9
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Read review
Search for or select a bank:
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Bankrate score
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Read review
APY
Info Icon
3.80% 4.15%
Minimum balance for APY
$0.00 $0.00
Estimated earnings
Info Icon
$1,900 $2,075
American Express National Bank offers a competitive yield on its High Yield Savings Account. The account doesn’t require a minimum opening deposit. The account also doesn’t have a monthly service fee or minimum balance requirements to worry about. The Barclays Tiered Savings Account offers a competitive yield on all balances. You don’t need a minimum deposit to open an account and like at most online banks, you won’t pay a monthly maintenance fee.
  • American Express features 24/7 customer support.
  • The bank lets you make automatic deposits into your savings account.
  • Barclays allows you to earn a competitive yield on your savings.
  • Barclays’ savings account doesn’t have a monthly service fee.
  • Barclays doesn’t have a minimum opening deposit requirement.
    N/A
  • Some online banks offer a higher yield.
  • You can earn a higher yield at some other online banks.
    N/A
APY offering:
3.80%
4/5
Info Icon
Minimum balance for APY:
$0.00
5/5
Info Icon
Monthly service fee:
$0.00
5/5
Info Icon
Minimum balance to avoid fee:
$0.00
5/5
Info Icon
Access to funds:
Good
4/5
Info Icon
APY offering:
4.15%
5/5
Info Icon
Minimum balance for APY:
$0.00
5/5
Info Icon
Monthly service fee:
$0.00
5/5
Info Icon
Minimum balance to avoid fee:
$0.00
5/5
Info Icon
Access to funds:
Good
4/5
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Info Icon
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Bankrate does not currently track additional product details for this bank.

Bank fees

Fee Charged?
Overdraft fee None
Non-sufficient funds fee None
Monthly maintenance fees None
Out-of-network ATM fee None
Excessive transaction fee None

Customer experience

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Bankrate staff insights

Fubbalicious
Apr 1, 2023
Anyone Use American Express® High Yield Savings Account?
I've used [American Express] for a similar bonus in the past and had no problem. If you already have a credit card with them, you can access your banking and credit cards with the same logins, though it's not as seamless as other providers such as Capital One and Discover. You can easily close the account later – which is what I did. Just check if there is any closing fee/period. Though I don't think there is.
via Reddit
Bodark
Apr 1, 2023
Switching to Amex HYSA
Personally, I wouldn’t recommend against it per se, but I would recommend restructuring a bit. I had the Amex checking account and the stress really isn’t worth it. Look up how many of the compatible ATMs are in your area, then get rid of all of them. I live in NYC and according to the website, the compatible ATMs are everywhere but in reality when I go to the locations, they’re nowhere to be found.
via Reddit
CTA We want to know what you think about American Express National Bank

We want to know what you think about American Express National Bank

Do you have experience with American Express National Bank? Let us know your thoughts.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

American Express National Bank customer reviews

CTA American Express Bank has 24 reviews

American Express Bank has 24 reviews

Dive into community reviews below and see what others think about American Express Bank.

4.6 Star Icon
24 ratings
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Score breakdown
5 stars
67%
4 stars
29%
3 stars
4%
2 stars
0%
1 star
0%
Score by category
Overall Rating 4.6 / 5
Competitiveness of APY 4.4 / 5
Amount of fees 4.4 / 5
Customer support 4.7 / 5
Website / Mobile app 4.5 / 5
Verified Badge Icon Bankrate methodology disclosure

In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.

Community Reviews

See what users like you are saying about American Express Bank.
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Anonymous account holder
September 13, 2024
It’s really nice and simple and easy! it has a good interest rate!!. It’s all very convenient and up to date with the latest technology.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
If the bank have loyalty points for things such as bilss travel or everyday expensive. It's 10 out of 10. I don't have to many problems unless it's something I did or did not check to see what was wrong.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
Great customer service and fast responsiveness to any problems that I have. Was influenced to choose this bank by television advertising.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
They have subpar rates. It's alright. They have better rewards with credit cards than most.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
Very easy to use and pleasant , always get the help I need. I got an ad in the mail and decides to open an account and I don’t regret it.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
It's a very good one and I love it. We could use a lot of help to make us better.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
That they are trustworthy and have the best customer support. There benefits and their customer support made me decide to use them.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
They have good competitive a interest rates for various time frames, whatever can best fit your needs at the moment. Three factors are Customerservice, Competitive interest rates, And a variety of accounts types.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
I value the rewards and APY. I have a good relationship with them. They always work with me and their customer service is outstanding.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
They have competitive savings account rates. My credit card offers protection when needed. Rates Reputation Flexibility.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5