American Express High Yield Saving Account at 2.00%APY

American Express is offering a high yield saving account at 2.00%APY. This high yield saving account rate is accurate as of July 9, 2009 but is subject to change.

There are no minimums and online electronic transfers are free. Deposits are also FDIC insured up to the maximum amount permitted by law or up to $250,000.

American Express Bank however has only one star (lowest rated) rating from Bankrate.com’s Safe & Sound rating system. This may be due to the fact that American Express Bank is just a newly established banking division of the popular credit card company, American Express.

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