American Express High Yield Savings review

The American Express High Yield Savings account is about as simple as savings gets. It paid 3.20% APY as of November 8, 2026, with no monthly fees and no minimum balance to open the account, avoid a fee or earn the advertised rate. You open it online, register for online access after a confirmation email, then fund it by linking a bank account or mailing a check. Linking an external account can take up to two days, and Amex says transfers started after 7:00 PM Eastern or on non-business days begin processing on the next business day. Customer service is available 24/7 by phone, and the same bank sells CDs with terms up to five years if you want to lock part of your savings. What you do not get is the toolset other banks offer, such as goal buckets, round ups or instant transfers. For savers who want one account that just earns interest, that simplicity is fine; others can earn more or get more features elsewhere.

Who it is for

Amex cardholders and savers who want a simple account with phone support at any hour.

Price

$0 monthly fees, no minimum balance; 3.20% APY as of November 8, 2026.

No monthly fees + no minimum balance Whatever your balance, you won’t get charged a fee.
Quoted from the vendor pricing page on November 8, 2026.

Key features

• 3.20% APY as of November 8, 2026
• No monthly fees and no minimum balance to open, avoid fees or earn the APY
• 24/7 customer service by phone
• Fund by linking a bank account or mailing a check
• CDs from the same bank with terms up to five years

Strengths and weaknesses

• Strength: Very simple account with nothing to track
• Strength: Phone support around the clock
• Strength: Familiar brand for existing Amex customers
• Weakness: Few savings tools such as buckets or round ups
• Weakness: Linking an external account can take up to two days
• Weakness: Transfers after 7 PM ET process the next business day

Key facts

• APY: 3.20% as of November 8, 2026
• Monthly fee: $0
• Minimum balance: None
• Support: 24/7 by phone
• Bank: American Express National Bank, Member FDIC

Where it ranks

American Express High Yield Savings is No. 8 in our Best High Yield Savings Accounts verdict.