American Express Launches 'Personal Savings' Accounts

Personal Savings from American Express is a new line of FDIC-insured certificates of deposit and high-yield savings accounts.

The Personal Savings deposit accounts are offered by American Express Bank, FSB, which is a depository institution insured by the Federal Deposit Insurance Corp. (FDIC), and is part of the American Express family of companies. The Personal Savings deposit accounts feature no monthly fees, no minimum balances and 24/7 account access via web or phone. Consumers can also rely on the security of a Personal Savings account from American Express, because all deposits are FDIC insured1 up to $250,000 per depositor.

"With the consumer savings rate at its highest level in more than a decade, we are eager to offer new, convenient saving accounts," said Martin Murrell, VP of Direct Deposits, American Express. "Personal Savings also offers consumers the peace of mind that comes from saving with an established, FDIC-insured institution they can depend on."

Personal Savings from American Express deposit accounts are designed to help consumers meet their savings goals and include:

- High-yield savings accounts with an Annual Percentage Yield of 1.85 percent3

- Certificates of deposit (CDs) available in a range of maturities from three months to five years

Personal Savings deposit accounts are available to both American Express Cardmembers and to consumers who do not currently have an American Express Card.