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American Express Bank, FSB

Category: Bank Deals, Savings Account Rates- fhuff- 10:34 am/ October 29, 2010

American Express Bank, FSB has a high yield savings account that earns 1.3% annual percentage yield (APY). The savings rate is current as of Oct. 29, 2010. Details of the savings account offer include:

  • No minimum balance required
  • No monthly fees
  • Insured by Federal Deposit Insurance Corp. (FDIC)
  • Up to six withdrawals each month
  • Access account online or by phone anytime

You can make deposits and withdrawals by check or electronic transfer. You can deposit checks by mail. You can link up to three external accounts to an American Express Bank savings account. Interest on the savings account is compounded daily and credited monthly. The first interest payment to your savings account is made 30 days after it is opened. After that, interest is credited once a month. If funds are deposited electronically, it may take up to six business days for them to be available for withdrawal. You can name up to six payable-on-death beneficiaries for each savings account. You can apply for a high yield savings account online. Savings accounts cannot be opened in the name of a trust.

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