American Express is one of the most universally recognizable names in the financial services market.  To capitalize on their name and the changing marketplace American Express now offers a wide variety of financial services through its online bank.  They offer one of the highest yields, and best online savings accounts in the industry.

High Yield Savings at Your Fingertips

American Express has made opening an online savings account super simple.  The banking portal is clutter-free and it only takes a few clicks to open.  Once the account is open it is also easy to maintain.  With no minimum opening balance requirement you can start saving today.  And as you fund the account the amazing high interest account will grow your money at a rate you probably could not access without a premium account at a brick and mortar bank, if at all.  The current interest rate for savings accounts as 14 May 2011 is 1.15% APY (October 29, 2010 is 1.30% APY).  The High Yield Savings account from American Express is simple one of the top savings accounts.

No Fuss and No Fees

One of the best things about this high yield savings account is American Express does not charge any account fees.  As you compare online savings accounts especially from “brand name” banks many of them charge fees but with American Express Bank you get the “brand name” without the designer price tag.  This high interest account is incredibly easy to apply for and fund.  Once the account is active, you can access it from virtually anywhere in the world.  But if you leave the account to grow you will meet your savings goals with one of the best online savings accounts.  Should you have any questions about the account the FAQs is extensive but easy to understand so most answers can be found online.  However, if your question requires customer service they are just a phone call away.  As you compare online savings accounts few can match the high interest rates, ease and access of American Express Bank.

Points to Remember

If you’re looking for a great online savings account American Express has one of the best available.  Since you need your money to work for you the savings account APY offered by American Express Bank is consistently yields the highest interest savings account rates.  And you get the safety and security of dealing with a name like American Express.

There are two easy ways of making deposits into the American Express savings account, either by check in the mail, or online through electronic transfers. If you should choose to make a deposit by mail, you can send a check with an endorsement as well as the words, “For Deposit Only” on the back. For an electronic transfer, the process is as easy as 1,2,3. To ensure protection, you are asked to verify two test deposits before the actual transfer. Then, once that is complete, you are free to transfer between your personal savings account and linked account at any time. As a member of American Express, you are allowed to have up to three external bank accounts from which to transfer funds. For more information on American Express’s deposits or withdrawals, visit the High-Yield Savings tab at their site. Our American Express review gives a complete overview of American Express and the services they offer, including a review of the American Express Certificate of Deposit account. Our video review of American Express gives an easy to understand explanation of why online banking with American Express is a benefit, and a look at American Express rates in comparison to the nations best banks.

American Express also offers 24/7 phone and online banking service.

American Express bank accounts are FDIC insured.