American Express

Savings accounts are not meant for everyday spending. ATM cards, debit cards, or checks are not provided. However, for your everyday spending needs, you may be eligible for an American Express Rewards Checking account. Additional terms apply. To learn more about an American Express Rewards Checking account, please visit americanexpress.com/rewardschecking.

A High Yield Savings Account is a savings account with a variable interest rate. Interest on High Yield Savings Accounts is compounded daily and posted to accounts monthly.

The best method for transferring funds – and having them available to you as soon as possible – is by initiating the transfer on the website of the bank where the funds are currently held. By doing this, you are pushing funds to the destination bank. The funds should appear in 1 to 2 business days³ (not including the time it takes to link accounts). If you open a High Yield Savings Account with American Express Savings, the fastest way to transfer your funds out of your Savings account and into a checking account would be by initiating the transfer on the American Express Savings site. In many cases, you may qualify for express transfers that can appear as soon as the same day.
However, if you chose to initiate funds transfer with the bank where you want funds to arrive, you would then be pulling funds. Depending on the destination bank's hold policies, this transfer could take 3 or more business days.³ If the destination bank is American Express National Bank and you initiated the transfer on the Savings website, the amount will be reflected in your Current Balance and will begin earning interest immediately. Then the funds will be available for withdrawal on the 5th business day.³