American Express high yield savings account

by hysa | Filed under Savings Account.

American Express Company or Amex is an American multinational financial services corporation in New York, New York. Founded in 1850, Amex was started as an express mail business but the company now is best known for its credit card, charge card, and other traveler’s check businesses.

Amex has provided customers with outstanding service and listed as one of the “Most Admired Companies in the World” by Fortune. And aside from that, Business Week and Interbrand ranked Amex as the 22nd most valuable brand in the world. Amex has recently entered the market of online banking with the launch of the American Express Bank, FSB.

American Express High Yields Savings Account is another good high yield savings account to consider for your savings needs. You can look how much your money can earn with high yield savings account. Amex has competitive rates, a good reputation, well known and trusted bank.

Your deposits from Amex are FDIC insured up to 250,000 usd (FDIC Certificate number 35328). You can have peace of mind not thinking of what will happen to your money in the future.

Amex has no minimum deposit amount to open an account and you can enjoy the convenience of their 24/7 features, easy to check your balance transfer in or out whenever you want by phone or web and it is free. You can make deposits and withdrawals to your Personal Savings account electronically by linking your existing account.

American Express High Yields Savings Account has simple products. Like all other banks that are offering high yields savings, American Express has decreased their rate due to economic slowdown but they are certainly better than what your local bank is likely giving on your savings account nowadays. Amex offers competitive rates and compounded daily and credited monthly. American Express High-Yield Savings Account offers 1.00% APY. Rates are subject to change at anytime. The annual percentage yield as advertised is effective as of August 20, 2011.

Opening an account on Amex is very easy and it takes only few minutes. Go to the site of American Express or you can call over the phone anytime at 1-800-4466307. Choose your account, then provide your personal information and confirm you identity. Wait for an email confirming that your application is approved. After that, you can start funding your account to earn interests. With Amex, you are able to transfer funds 24/7 online or by phone.

Another option is you can also deposit and withdraw your money by check. How? You can deposit checks by mail. Any personal check that will be sent to Amex must be drawn on your account’s name. It must be payable to you as it appears on your personal savings account, or to American Express Bank, FSB. Indicate an endorsement at the back of the check with your signature and the words “ For Deposit Only” and include your personal savings account number on the check. You can mail your check to its current address: American Express Bank, FSB. P.O. Box 30384, Salt Lake City, Utah 84130. Take note not all types of checks are accepted by Amex. They will not accept counter/starter checks, travelers checks and money orders. Although online banking is very enticing because of the convenience it brings, avoid this option if you are not comfortable banking online.

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