American Express National Bank Review 2025

American Express National Bank, member FDIC, is an online bank that offers savings and checking accounts with competitive yields and several CDs that pay above-average rates. The checking account earns rewards for purchases, although it’s only available to those who have had an American Express card for at least 35 days.

AmEx Bank products

American Express National Bank High Yield Savings Account

There are a number of benefits to stashing your savings with American Express — especially if fees and minimum balances are a concern. And while the APY you can earn with AmEx isn't the absolute top of what's available, it's still well above the national average APY.

The one major drawback to be aware of is that you won't be able to deposit cash in your AmEx savings account. While some banks — digital and otherwise — provide the ability to deposit cash via an ATM or teller, this service isn't available with AmEx. 

Rate history for AmEx's Savings account

American Express National Bank CD

Much like its savings offerings, AmEx's CDs are solid through and through. The biggest flaw in its product line up is the distinct lack of specialty CDs, but even that isn't a huge drawback if you're looking for a simple certificate to earn interest that outpaces national averages for over a little under a year all the way up to five years.

Rate history for AmEx's CD accounts

American Express National Bank Rewards Checking Account

While its savings and CD offerings are fairly solid, AmEx's checking account really stands above others. This is because it is an account that has both rewards and a comparatively high yield without a minimum balance or monthly fees that might eat into the added value. 

Exclusivity is the main drawback — namely, you can't get a checking account with AmEx unless you've had a credit card with the company for over a month.

Compare different account types offered by American Express National Bank. Annual percentage yields (APYs) shown were updated between Oct. 22, 2025 and Oct. 28, 2025.

Customer support

Customer service hours. American Express National Bank customers cannot visit a branch. Customers can, however, reach someone at the bank 24 hours a day, seven days a week by phone.

Low customer satisfaction. American Express ranked below average among online banks among checking and savings providers, according to J.D. Power’s 2024 Direct Banking Satisfaction Study. 

Digital experience

Highly rated Apple mobile app. The American Express mobile app receives almost perfect marks from Apple users, but middling ones from Android users. The iOS app alone has more than 4 million user ratings. Users report that the app is easy to navigate, including a Bankrate staff member who uses American Express personally. 

You can easily transfer money from other accounts into the AmEx account, and you can link AmEx credit cards so that you can see both banking and credit activity. You can also send money to any Venmo or PayPal user right in the app.

Strong communications. AmEx updates its customers on important financial news. “When the Federal Reserve was raising interest rates, I routinely got updates telling me my new rate on savings,” said a Bankrate staff member with an account. “Often, those notices came almost as soon as the Fed announced a rate hike.”

Personal loan promotions. While American Express generally offers a stellar digital experience, it clutters its site — and your mailbox — with personal loan promotions, according to a Bankrate staff member with an AmEx account. 

The above images were last updated on July 12, 2024.

Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.

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Our editor's take

American Express makes it convenient to check your credit, savings and checking balances all in the same place. Bonuses aren’t always available, as is the case as of the time of this writing. Moreover, prospective customers should note that the American Express Rewards Checking account is only available to AmEx credit card members who have had an American Express card for at least three months.

You can use American Express’ ATM Locator to find nearby ATMs. The locator works fairly well, and even gives you step-by-step directions on getting there from your home address. However, the page doesn’t tell you what services are available at each location, unlike some other big banks.