American Express Review
American Express is one of the most dependable and recognizable brands in the world. According to Fortune magazine American Express is one of the 30 Most Admired Companies in the World. Founded in New York in 1850, American Express is most recognized for its credit cards but now offers online savings accounts and certificates of deposit with some of the best interest rates on savings accounts and the brand millions of people know and trust. American Express’s stock symbol is AXP and is one of the most familiar on the New York Stock Exchange but what most people don’t realize is American Express is one of the Dow Jones Industrial Average companies by which the overall health of the stock market is assessed. In our American Express review we do an overview of the best bank accounts they offer.
High-Yield Savings Accounts
In our review, we found the American Express high yield savings account is an easy way to build or add to your personal savings portfolio. There are no minimum balance requirements or fees for these online savings accounts just high interest rates backed by the strength of the American Express brand. All deposits are FDIC insured to the maximum allowed amount currently $250,000. In just minutes you can apply for your savings account online in minutes and the account will be active and available to use in 2-3 days with an electronic funds transfer for your first deposit. Since this savings account is 100-percent online, you can access your savings account 24/7 through the security of the American Express network. The savings accounts is fully flexible to adjust to your current goals and needs.
Certificates of Deposit
An American Express high interest rate cd puts your money to work for you at a faster pace than even a high-yield savings account. CD interest rates are variable according to the length of the term which can be from six months to five years with the highest cd rates for the longest term. But regardless of which certificate of deposit term you choose American Express offers you the flexibility to deposit up to $250,000 and you begin earning high interest rates after 30 days. There are never any fees on your certificates of deposit and since the account is online you can access it whenever you wish however there is a penalty for early withdrawal from a cd.
Other Banking Products
In addition to American Express Credit Cards the company offers financial solutions for small businesses and corporations. Large or small credit and purchasing solutions can be tailored to the individual needs of just about any company. For small businesses the OPEN® Gold Card offers membership rewards and purchasing power to which only large companies traditionally have access. Our American Express review, showed that the purchasing power helps small businesses stay competitive in the marketplace. But for larger companies, the American Express Corporate Card is a perfect solution to manage expenses and the Business ExtrAA card earns cash rebates and other rewards while streamlining expenses and purchases. All business cards offer flexible management solutions to meet the needs of your company.
American Express Review Summary
As an iconic brand, the American Express name stands on its own merit. But for its online banking products its more than just brand recognition which make it a smart investment. The high yield savings accounts and high interest cd rates are even more reason to put your money with American Express Bank. Even if you are a little nervous about online banking the American Express brand has safety and security built right in to all its financial service offerings. In conclusion of our American Express review, whether you are a cardholder or not the storied history of American Express give you the peace of mind to know your personal savings accounts are safe.
(1 votes, average: 5.00 out of 5)
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