Amex Current Savings Rates

We have been writing about American Express Savings Account Rates since American Express Bank started offering a savings account. As with all banks and credit union's lowering their savings account rates, American Express Savings Account Rate has also been lowered over the past couple of years.

Amex Current Savings Rates

Amex's current savings account rates are at 0.90% with a savings account yield of 0.90%. That rate is down from our list report in May of this year when American Express Savings Account Rates were at 1.14% with a savings yield of 1.15%.

These savings rates might not look at good at all when Amex's rates are still some of the highest savings account rates available today. Amex's savings rate is also considerably higher then the current FDIC national average of 0.11%.

Opeing an American Express Bank Savings Account is very quick. When you enter the account information need to open the account you quickly receive a conformation via email

You can make deposits into the Amex savings account by electronic funds transfer or by mailing a checking to Amex Bank in Salt Lake City, UT.  You can also setup up to 3 external links to the Amex savings account making transferring money into and out of the account easy. Remember as with any savings account there is a Federal limit of 6 withdrawals per billing cycle.

Interest earned on the Amex savings account is compounded daily and posted in the account monthly. For more information and to open an Amex savings account go to Amex Savings Account.

Author: Robert Till
November 28th, 2011