Amex vs discover savings account. Still no other accounts with Amex.

Amex vs discover savings account Comparing other banks, these rates are very In terms of linking external accounts to Amex or Ally, yes you can with both. 01%. I don’t have savings or checking with them. Note that for my long term savings I use treasuries which are currently yielding 5%+. savings account: Money market accounts are a kind of savings account that typically offer debit cards and checks. American Express Personal Savings. Its checking and savings accounts are separate accounts, though they are frequently bundled together. Best high-yield savings accounts and rates from the biggest banks in the United States, as well as online banks like CIT, Discover, Chase and more. 10% (as of 01/11/25) APY on checking and offers better variety and access. Discover and Marcus are good choices, as well. 25%+ HYSAs you can find on Raisin? Reply reply Sofi doesn't have any withdraw limits on the savings account like Discover does. Extra 1% with referral code https: I'm using Discover and haven't had any problems. 00% back on up to $3,000 in purchases made with a debit card each month, but Capital One pays 0. If you want to keep your banking products together, get Amex. Closed my Amex checking in the meantime until they release more features SoFi is 2% APY with direct deposit (even $1). I have the Discover It Cash back card too. Rate difference between the two is usually only temporary and negligible. I have CIT Bank, Amex, Discover and PNC HYSA. I would recommend. 90%. I've done it 3 times now. I currently have a Chase savings and checking account and a Discover It credit card. Discover Online Savings offers a significantly higher interest rate of 3. Ally Bank High Yield Savings is a popular savings account that offers a variety of features and benefits to its customers. 50% APY (with direct deposit); the checking account gets a measly 0. You can now get access to investment products, mortgages, and Savings Accounts including CDs (20%): We focused on important stuff like how much interest you can earn (APY), the smallest amount you need to open an account, how flexible the accounts are, and if they're insured by I’m looking to open a high yield savings account and deciding between Marcus vs capital one 365 vs Amex vs Barclays. Both accounts are included on our best savings accounts list for 2025. It doesn’t require a minimum When it comes to savings accounts, American Express Bank is a clear winner. Capital One 360 Performance Savings account does not provide an ATM card, and there is a limit of six withdrawals or transfers out of the account per statement cycle How to Open an American Express High Yield Savings Account How Amex Savings Compares American Express High Yield Savings Account vs. I've had 360 Savings and Checking accounts but realized that there was a better alternative within the bank I already use. The savings APY is impressive too. Banks and financial institutions offer various types of savings accounts that cater to different needs and goals. Amex is a harder account to transfer in/out of so that slight increase in isolation may help. Savings Builder, on the other hand, offers Money market account vs. Though interest rates are beginning to decline due to the Federal Reserve’s rate The Discover Online Savings Account and the American Express High Yield Savings Account are both great high yield accounts for beginners in 2024, as they off as for other high-yield accounts, i use wealthfront. You can then link to any checking or savings account at another bank. Fees: PNC High Yield Savings account has no monthly fees, while the Chase Premier Savings account charges $25 Discover offer a little better credit cards and lending products, also their saving APY is higher. 75% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app A trusted online bank with a range of personal and business banking products, American Express offers competitive savings rates. Learn More It offers a variety of accounts, including credit cards and standalone debit cards, as well as checking and savings accounts, college savings accounts, and retirement accounts. Both banks offer competitive interest rates and no minimum deposit requirements or monthly maintenance fees, making them great options for customers looking to maximize their savings. 6 million and 160+, respectively. Discover Savings. The high interest rate plus the promise of . Opening a Discover bank savings account is easy. I haven’t seen it here yet but I use Current in conjunction with AMEX and Chase and haven’t had any problems since 7/22. Discover® Online Savings. Capital One 360 checking and savings just seem to be much quicker and seamless for my use. Not sure how often it compounds, but I got around $30k in there and collect about $110 in interest a month. Get a $300 bonus when you open an American Express ® High-Yield Savings Account, deposit qualifying funds, and maintain the balance for 60 days. 25% then in October to 4. Easy to transfer money between my Marcus and traditional accounts. However, currently Discover is not my main savings account because there is better out there. Same . Their account has no minimum balance requirements, and no fees Amex Savings Review Chime Review Sofi Bank Review Discover Checking Review [2025]: Cash Back vs. Discover the features and benefits of an American Express® High Yield Savings Account, including mobile banking. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. The Axos ONE® savings and checking bundle has it all. I have both discover savings and just have opened sofi checking & savings last week. Mobile check deposits are simple with the Amex App, and digital transfers enable easy money transfers between connected accounts, including the Amex High Yield Savings account. 80% APY. Both UFB Direct and CIT offer online savings accounts with high interest rates. The interface and features are better. Took about 3 minutes online. 90%: $0: If you’re looking for the best rates with no fees and some nice features, like 1% cash back on debit card purchases, Discover is the better bank. The table compares two savings accounts, Discover Online Savings and Chase Premier Savings. Discover and AmEx issue cards, I love the Amex savings account. Amex High Yield Savings vs. I already have my checking account and three different Sign up with SoFi (up to $325): https://alexisidro. The purpose of my post is to ask if there’s more I should consider besides the APY. Literally just about any of them. Also Discover Banking is currently doing a promotion right now if you put $15k in you get $150 and $25k gets you $200. Both also have access to mobile tools to help you manage your money and work towards your savings goals. I am trying to decide between Discover and Amex savings. The Discover Online Savings Account and the American Express High Yield Savings Account are both great high yield accounts for beginners in 2024, as they off Using the Amex App, mobile check deposits become effortless, and digital transfers make it simple to move money between linked accounts, including the Amex High Yield Savings account. 65% APY, the Vanguard Cash Plus Account rivals the rates found on many high-yield savings accounts. SoFi has a hybrid savings and checking account that offers up to 4. I’m interested to hear from people who bank with Amex about your experiences. 50% rate too. Chase Preferred; Amex Platinum vs Chase Reserve; Savings Accounts including CDs (20%): Read Full Comparison: SoFi Money vs Discover: Which Online Banking Suits You Best? SoFi vs Ally Bank. The Amex Savings account has a maximum balance limit of $5,000,000. But, while the idea of passively With a rate of 3. $0 Promotion. The differences between money market accounts and savings accounts may seem confusing at first — and your confusion could be multiplied when you discover there are more than one of each type. I recently learned about high-yield savings accounts and I'm kicking myself for not opening one earlier. It’s convenience and you have the saving account in the online portal, it’s easy to switch over to the savings account. Maybe "a hassle" if you're constantly closing accounts instead of at least keeping them around with some funds for a while, or moving for negligible difference. I have AMEX high yield savings and setup to transfer between them. 40%. 05% and Discover is 0. UFB Direct, Member BofA savings will give you very little in return. S. 25% APY; Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Discover the key steps and requirements to embark on your journey toward a rewarding banking To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. With the Amex App, depositing checks on your phone is easy, and you can easily transfer money between your accounts, including the Amex High Yield Savings “With most online savings accounts, it doesn’t matter if you have $1 or $100,000, they won’t charge a fee for not maintaining a minimum balance,” he says. it is a cash account, which is really a checking/savings combo, with interest bigger than AMEX (4. I would recommend them. Discover Bank’s Online Savings Account is almost When it comes to high-yield savings accounts, both American Express and CIT Bank offer appealing benefits to potential customers. 01% regular savings account. Compare Savings Rates . Ally Savings Account Fees. It's like digitally stuffing your savings in different pockets around your house lol. Best for AMEX cardholders: American Express® High Yield Savings; To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Discover provides many savings account options, but I’ll be specifically reviewing the Discover Online Savings Account below. So that means you won't get the new rate unless you call them and ask for your account to be converted. I have many accounts of many different types (401k, HSA, IRA, Roth, 529 plan, 3 brokerage accounts and 4 savings accounts, off the top of my head). Understanding the differences between American Express High Yield Savings Account vs. Discover is accepted at 10. Moreover, you have the option to add your debit card to your digital wallet, allowing for speedy and convenient payments both in-store and online. When comparing Capital One 360 Performance Savings account and Discover Bank's online savings account, their limitations are also quite similar due to the nature of these accounts. But the checking APY at Amex is higher at 1% vs 0. I have a credit card with Discover and I was thinking about opening a high yield savings account with Discover. however, it tends to fluctuate more, so i usually just keep some money on it. ) one app for credit cards and checking/savings) customer service great. But what are the pros and cons of using Sofi over Ally? Into the new 3% APY on savings account, plus their fully fledged features like vaults which let you ear mark money and relay are superb. 75% (as of 12/18/24) APY while paying The savings account APY is currently 4. They combine the flexibility of regular deposits and withdrawals with the benefit of earning more on your savings. 35% APY. I currently have PNC (4%) Disco & Amex (3. Discover Online Savings Account Discover Bank offers one of the best online savings plans with a competitive 4. Here are the main benefits and features to know when opening an Amex savings account: Impressive Rate: The first and most obvious feature of the American Express High Yield savings account is that it offers an impressive rate. Discover Online Savings Account: 3. Amex offers 24/7 customer service and fraud monitoring to keep your account secure. 0/5. Cards Membership Guides; Amex Membership Rewards; Chase Ultimate Rewards; Capital One Travel; Discover Savings Account. FWIW, sofi checking and saving account’s aren’t separate meaning you can’t just open the savings account. Savings: Discover Bank savings options include a high-yield savings account, which compounds daily, and a money market account that has checking-writing privileges and a debit card. Cap 1 and Discover are both good options. As a broker, who travels frequently I love all the online services, options & flexibility Amex, Discover, Cap 1 & Chase offer, I use all 4 of their checking & savings for various reasons, but I also keep $100k or slightly less in Ally is a better choice for most people, imo. UFB Savings vs. The rate does fluctuate though. Discover Bank’s Online Savings Account is almost identical to the Amex High Yield Savings Account. CIT Savings Connect. Easy way to avoid annual fee. 👍🏼 Amex Gold vs Amex Platinum; Cards Membership Guides . You don't have to worry about the Apple savings account being "new", your money would be secure there as well. So Capital One’s online savings account options shouldn’t Amex Rewards Checking helps you earn points on your Debit Card purchases, and there are no monthly fees. 75% APY; Marcus Online Savings - Earn 3. Definitely prefer the Discover Checking over Amex. Account holders can make simple, seamless bank transfers SoFi Checking / Savings blows Amex out of the park. i still use separate checking/savings account though (Betterment, 4. Discover doesn't have that, nor any other bank I've used. This is the highest bonus offer Amex has ever provided for their savings account. $150 – $200 Minimum deposit of $15,000 / $25,000 needed. By the way, I don't remember seeing any transfer fee when I move money between AMEX and BofA. The savings rate for Amex High Yield Savings is 5. 5% with a pro that it's not tradional Since the news of the acquisition I’ve personally moved from Discover to Capital One. Moreover, you have the Based on the data provided in the table, SoFi Bank Savings appears to offer a slightly better savings rate at up to 4. While both SoFi and Amex offer savings accounts, there are some key differences between the two. It is worth noting that only the funds in your savings account at SoFi gets the highest 4. The Basics of High Yield Savings Accounts. It decreased three times more in 2024, first in September to 4. com/FinancialClarityBluepri I like Ally a lot though their rates are lagging. Just wanted some opinions on which High Yield Savings account would be better? Capital one 360 Performance Savings or Discover Savings? Both are currently at a 4% APY. The Amex Savings Account falls in the middle of the pack compared to other savings account interest rates. Chase is well known for The best high-yield savings accounts offer competitive interest rates and low fees, and the Discover® Online Savings Account comes with both: You'll earn 3. 00%. I have the Platinum and BCP (but planning to replace BCP with Gold this year). On the other hand, Savers who want to earn the most interest on their money should look at the best high-yield savings accounts. Discover Bank is known for its competitive interest rates and low fees, making it a popular choice among customers looking for an online banking I have had an Amex Personal Savings account for several years now. . The balance arrives within a day but takes a few more to clear. Both have the same rate and offer fee-free account maintenance. One of the most appealing aspects of Ally Savings is the absence of monthly maintenance fees Discover currently offers 4. 1% at Cap One. The HY savings accounts are about the same. How to withdraw money from an Amex Savings account. An unofficial community to discuss Apple Card / Apple Card high yield savings account / Apple Daily Cash and the related Featured High-Yield Savings Accounts. Open a Discover® Online Savings Account for all these features: • Earn high interest rate of 3. Savings Connect has two tiers, with the first offering a higher rate if you make qualifying deposits and link your checking account. 5% APY. As of January 2025, the American Express savings account offers similar rates as Citi Accelerate savings with no monthly maintenance fees and is considered one of the best savings accounts available. 30% APY; 12-Month High-Yield CD - 4. Saving money is a crucial part of financial planning, and you want to make sure you're making the most of your savings. However, one difference I have found is that Amex allows unlimited deposits/withdrawals but discover looks like they charge $30 per wire transfer. Bank Smartly Checking Review [2025]: Worth Moving for a Bonus Learn The Basics of High Yield Savings Accounts. Otherwise, I'd go with Ally. 75% (as of 12/18/24) APY. with Discover. High-yield savings accounts are another option. 30% if you want a second option. Right now, Marcus' APY is 1. 00% compared to Marcus Savings Account's rate of 3. American Express and Discover are two well-established credit card programs offering cardholders distinct features and benefits. 99 percent if you keep a balance of $25,000 or make monthly deposits of at least $100. This may be an advantage for customers who are interested in investing in CDs instead of savings accounts. Choosing between these two banks can be The savings account options from both Discover and American Express offer similar rate of return with no fees and similar terms. Personally I have no experience with Discover but just go with the highest (ha, none of them are very high) savings interest rate because they will all have FDIC. Discover is an incredibly robust bank with a great high yield savings account as well! Right now, you can earn 3. I think it's worthwhile to take advantage of the higher interest in a Discover account. I really like their 11mo no risk CD though which kinda negates that issue, you can open like 20 CD accounts at 3. The PNC High Yield Savings account offers a significantly higher savings rate compared to Chase Premier Savings account's rate of 0. Never a problem. Choose the one with the better card that suits your needs. Go with whichever you prefer, it won’t make much of a difference in the long run. Discover customer service being US based is nice but hopefully you don’t have to call very often. 64 million U. TBH they are marginally similar. Type of fee Fee amount; Monthly Maintenance Fee: $0: Excess withdrawal (after 6 withdrawals in a month) $10 each: The modest difference here, even at $50k balance, probably doesn't even cover their average customer acquisition cost -- the dollars in ads, branding, rewards, etc they have to spend to get you as a customer vs. American Express National Bank, Member FDIC, has $0 monthly fee for this account, which Something to keep in mind with them, every time they bump the rate they come out with a new account type. Additionally, you can add your debit We compared 370 savings accounts at 157 nationally available banks and credit unions to find the best high-yield savings accounts. Transfers from your Amex Savings to your local institutions' account is usually next day in the morning provided you 1:1 Mentoring Sessions Available: https://alexisidro. I like discover for savings (have two cards with them. The new American Express checking account earns a 1. You are probably more familiar with With the Amex HYSA Savings Account, you can enjoy the benefits of easy access to your funds through a user-friendly mobile app or online banking platform. I'm interested in the Amex and Discover savings accounts since they have no monthly fee and no minimum deposit and they currently have the same rates. Discover Online Savings. 25% APY interest rate discover was my first ever checking account and i used it for years. In this article, we'll compare Ally and Amex savings accounts to help you determine which one is the best fit for your financial goals. Discover has actually been slower to give me limit increases then Capital One. 75% compared to Chase Premier Savings' rate of just 0. 80%, with $0 minimum to open the account and a $0 minimum required to receive the APY. 10%, and finally to 3. American Express lags behind at 10. However, UFB's APY is higher, giving you more value on your balance. Discovers checking can do that, but not the HYSA. 75% APY. I think they require a 2 month Using the Amex App, mobile check deposits become effortless, and digital transfers make it simple to move money between linked accounts, including the Amex High Yield Savings account. 3. In this case, the banks offer Discover Bank Online Savings and the Capital One 360 Performance Savings account. “You won’t find arbitrary ‘maintenance’ fees either because your online account is low maintenance. Savings Builder, on the other hand, offers 3. I've called both companies and honestly they both seem to be exactly the same. 30%, I just keep emergency funds and a few other things there. Discover Bank and American Express are two popular online banks that offer high-yield savings accounts with competitive interest rates, low fees, and advanced savings tools. Pretty decent interest rate, compared to traditional banks. 55%). 0) Pros: The highest interest rate offered on this list from a reputable bank. Additionally, UFB Direct doesn't require a minimum balance to get started, while the CIT Savings Connect account requires a deposit of at least $100. If you're looking for specific credit card benefits, Citi cards is likely to make Citi a better choice for you I don’t think very much will change in the short term with the savings account, capital one has a savings account that has a similar rate. 1. When it comes to CD rates which can be a good alternative to savings account, Discover Online Savings offers higher rates (2. The most popular offers are from Chase Bank, SoFi, KeyBank, BMO and I don't even know what Discover was during that time, but it wasn't competitive. Customers The table compares two savings accounts, Amex High Yield Savings and Capital One 360 Performance Savings, based on their savings rate, minimum deposit, fees, promotion, and CD range. Amex HYSA doesn’t have Zelle. the interface imo is one of the best banking apps. yes credit cards, checking, and savings are all under one app. 75%). Apple decreased its APY for the first time in April 2024 from 4. Amex also has certificates of deposit as well but they do not have a checking account. At American Express, customers can manage their savings with simple transfers and auto-deposits and get 24/7 customer service. Sofi also has free overdraft protection, CIT Bank has a few saving account options. For this, I am looking for a primary transaction account I can essentially use for direct deposit and all my credit card payments + rent. CIT Bank offers a variety of savings accounts. Top Competitors. And customer service is pretty good when I needed them. I have a savings account with Marcus. Some common types of savings accounts include a basic savings account, which is a standard account that usually has a low minimum balance requirement and earns interest on the balance. 00%) compared to PNC High Yield Savings (4. Besides the difference with the APR, I’ve had my AMEX Savings since 2015 and it is very much more easy of use than Discover’s HY The Discover® Bank Online Savings Account pays 3. if you have trouble getting them all under 1 online account, just contact support. 75%. Discover Checking Review [2025]: Cashback Rewards With No Monthly Fees U. 00% APY as of January 2025. 00% APY on all balances, which is competitive with what you’ll find with strong rewards checking accounts. AFAIK that’s the only difference between discover and Amex HYSA. Learn more about maximizing your savings with an Amex HYSA account. 5% APY—again though, using overdraft protection the way I do largely mitigates this, and you have free unlimited transfers between your checking and savings account regardless. To open a SoFi Bank Savings account, follow these steps: Sign up: Provide your basic information to create a SoFi Money account. Learn how to open an account. You can pay your American Express credit card balance from your Amex savings account. My current Wells Fargo account is paying no interest, so I plan to move away from them in the near future, and I'm currently changing things over now. From my understanding their wasn’t a hard pull when I opened the AMEX and Discover both have highly rated customer service that is leagues better than anyone else. AmEx set that 99% "virtual parity" goal in 2016, and the company says it's gotten there in large part because of its OptBlue program, which has helped mitigate swipe fees and close the acceptance gap. On paper, Sofi seems much better than Ally. For more current bank offers, see our bank bonuses page. Insurance: FDIC, Cert #35546. No fees, no minimum deposit, seems easy enough to deposit and withdrawal in case of an emergency. com/Mentor Get a Step-by-Step, Customized Financial Plan: https://alexisidro. The Amex Checking does pay some interest, but it is pretty barebones you can do Direct Deposit into it, withdraw money with an ATM card and that is more or less it. It graduated and now has a $3500 limit. Anything from user experience, customer service, issues. The only drawback with Current is that you get max interest 4% only up to $2000 in each savings pod with a maximum of 3 pods ($6000). 95% -- slight difference. The annual percentage yield (APY) on its sole savings account is Top 5 High-Yield Savings Accounts 1. Both accounts have no minimum deposit, and there are no account fees to worry about. Annual percentage yield (APY) was a main factor but not the only Both are good, but Discover has the edge. Expired on 09/12/2024 Fees. One sleeper is Discover bank, they keep their rates updated (3% currently) and have been easy to deal with. Most of the differences boil down to fees, perks, and the types of credit cards they offer. A high yield savings account (HYSA) generally offers higher interest rates than traditional savings accounts. 5x MR on debit spend seems better than C1 (which is nothing). Chase Savings vs Ally Savings Account. SoFi is a digital-first financial platform that focuses on providing online Amex Gold Vs. The fact you can receive 1% back on up to $3,000 in purchases every month is a plus. If you want to get 0. Discover Online Savings Account vs Capital One 360 It offers a variety of accounts, including credit cards and standalone debit cards, as well as checking and savings accounts, college savings accounts, and retirement accounts. It is far more built out. AMEX service is rated just a sliver higher but it's identical. Consider these alternatives to open instead or to complement your Amex savings account. As of January 2025, this account offers one of the highest rates on the market. This makes it possible to quickly and easily deposit physical checks to a Best for checking/savings combo: Discover® Online Savings Account; Best for mobile access: Sallie Mae High-Yield Savings Account; Best for physical branch access: American Express High Yield Savings may not have the highest APY on our list, but it still offers a rate well above average and requires no minimum deposit to qualify for the highest APY. 25%. and I opened a AMEX high yield savings account along with an established cc with Amex. It's always been in my regular savings account just in case I needed immediate access to it - and it seems that I can do that just as easily with the AmEx HYSA The Discover Online Savings and the Capital One 360 Performance Savings rates are similar. Savings accounts Savings account guide Best savings accounts Best high-yield savings accounts Savings accounts alternatives Savings calculator. Sure I could open a new account at another bank for a little more, but I like the convenience of keeping my regular banking at one place. In general, Discover offers no-annual-fee cards with cash back. Rating: ⭐ ⭐ ⭐ ⭐ ⭐ (5. Read on to discover how a HYSA at with American Express could benefit you and help you earn more interest Amex Savings Reply reply I like how you can create multiple savings account with a couple clicks to separate everything out I also use Discover - the rate has gone down a bit since I initially signed up, but their customer service and my familiarity with them made it worth it to me. Key Differences. 1 While many of these accounts sound similar, each type has something unique about it, from interest rate to insurance and from access to your money to how the account Recently, I noticed that AMEX has new checking/savings account programs. 75%) but soon will move the bulk of funds to CIT (4. Just note that if you initiate the transfer from Amex or Ally's side, they charge no fee. Out of your list I recommend Discover or Amex (I have both). The APY on the savings account is 1. With both, you simply add an external account (it may be found under their transfer funds sub-menu). 86% APY. Have 3 Amex cards and checking and savings great customer service. 00% APY with no monthly fees or minimum balances. Now it's Best Savings. As with Amex Amex High Yield Savings vs. Amex has free same day expedited transfers. . SoFi Savings vs. APY. These two have the same APY (4. So, if you are more concerned about rates and keeping most of your financial products The American Express and Discover savings accounts both offer the convenience of 24-hour online access, but only Discover offers a mobile app. That card is now at $26k. In this article, we will compare these two banks in Outgoing transfers from Amex to a connected external account can take 1-3 days, so you want to plan before making withdrawals. 3 percent interest rate looks pretty solid. In total I’d probably have 10 or 12 payments per month. My main reason was to have checking account with sofi to take advantage of using allpoint atm + early paycheck + $475 bonus. Then it was Elite Savings. If you're going to park money then you want the best APY. ” For example, the Discover ® Online Savings Account comes with no Amex Savings Accounts vs. It has the same 4. Since the bank's inception, the SoFi product line has come a long way. The Discover and Capital One savings accounts are very similar, with little to distinguish them apart. I have the rest in an AMEX HYSA no issues with Chase. Discover is probably best known for its cash-back credit card, but Discover® Bank also offers a savings account that pays a competitive interest rate. The Discover Checking account pays 1. The 3. Amex Savings vs Discover Savings. It offers a range of banking products including savings accounts, checking accounts, money market accounts, CDs, and loans. Discover has 100% US based representatives so that's a plus. I’m trying to avoid fintech and just looking for banks right now. 50%, with no minimum deposit I am the opposite. I have accounts with Marcus and Amex high yield savings and have had no problem with either. com/SoFiWe go over a comparison of the best features between SoFi, American Express (AMEX), and Ally bank Using the Amex App, mobile check deposits become effortless, and digital transfers make it simple to move money between linked accounts, including the Amex High Yield Savings account. Discover Bank is an online bank that has been operating for over 30 years. Chase Bank provides its customers with a wide range of banking, lending, and investment products. Both accounts have no minimum deposit and no fees, and there are no promotions currently offered for either. This may be a consideration for customers who do not have the minimum amount to open the account. maybe get checking within a year or two. The deal also isn’t guaranteed to happen, it will probably take a year to complete and it needs to get regulatory approval that seems to be fighting hard against these acquisitions. 05%) APY on your deposit, then I recommend CIT Bank Platinum savings. Amex High Yield Savings Ally Bank Savings Account vs Discover Online Savings. 50% APY on both checking and savings vs Ally with 2. Looking for best interests rate if any of the them has consistently high interest rate than others. While Amex doesn't charge a monthly fee, you can waive the Citi fees by linking your savings account to an eligible checking accoun. ; Complete additional questions: Answer questions related to your role in a brokerage firm or Went from Amex to Marcus. 75% Minimum Deposit. I've been lurking around and have been seeing that the funds tend to have a Ally vs Discover vs American Express saving accounts? Saving Hey all, Unless you want a corporate card, AmEx does not have greater value when comparing credit cards. APY Savings. UFB High Yield Savings. 70% higher (5. To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Ally and Amex savings offers lucrative savings rates and many If you’re looking for a more full service bank that allows you to have a savings account, current account and credit card, then Capital One is a better choice However, American Express does have a great savings account and plenty of card options. it offers a competitive interest rate of 4. Compare account features, benefits and drawbacks. 75% APY, whereas the Capital One 360 Performance Savings Account™ pays 3. American Express is known for great rewards credit cards—but its Rewards Checking account, launched in early 2022, is an exciting addition to Amex’s lineup of banking products. Discover® Online Savings - $200 Cash Bonus; Discover® Online Savings - $150 Cash Bonus; Online Savings Account - Earn 3. The big benefit to AMEX is if you are a hard time resisting the urge to spend your money. Now, 6 months go by and your account is now at 0. Amex HYSA is able to do same day transfers. One of the benefits of a Discover ® Online Savings Account is that you can grow your money with a savings account interest rate over 5x the National Savings Average. The other savings account option is Savings Builder which offers lower rate. Both savings account offers a competitive interest rate that is consistently one of the highest on the market. Both AMEX and Discover High Yield Savings are limited to 6 withdrawals per month, so now that I have two different accounts i can do 12 auto payments a month - 6 from each. Saving Reviews; Discover Online Savings; Marcus Savings Account; American Express HYSA Discover and American Express also have lower acceptance rates than the other networks, although Discover holds the edge over Amex in that regard. merchant locations and in more than 200 countries. 5% to 4. 25%), no minimum account balance, no monthly fees, both member FDIC. 35% for both Cap One and Amex, so no difference there. Just wanted to know everyone's experiences with the savings account since it looks like I'm going to be jumping off AMEX's HYSA to join Discover. You can just use the SoFi savings account for DD and should get the 2% APY. I'm looking to change my savings account at TD Bank to a high-yield savings account with either Discover and Marcus and wanted to see if anyone has experience with either. I do Discover because, I had the Discover it card first and is just easier for me to have everything in one platform. I already have a discover credit card and my app all set up. Discover Banks lets you place a "debit freeze" on your account with them which blocks all withdrawals but not all deposits - basically the same as AMEX's "y-vol" restriction. is an option that could provide the necessary benefits to help you meet your savings goals. You can get checks, deposit cash into it, get cashiers checks, do bill pay, etc. Why? Because I typically forget about them so i am never tempted to withdrawal from them haha. With online banks offering superior yields Expert Take: American Express National Bank offers an FDIC-insured high yield savings account (HYSA) with no minimum balance and no fees. The Barclays Online Savings Account is a strong option for those seeking a high-yield savings account with minimal fees and no minimum balance requirements. Widely known as a credit card company, American Express also offers a high yield savings account. Verify identity and choose account type: Confirm your identity, citizenship status, and choose between an individual or joint account. Two popular banks that offer high-yield savings accounts with competitive interest rates, low fees, and good customer service are American Express High Yield Savings and Marcus online Savings. Despite this similarity, there are plenty of differences between Amex and Discover. However, you can set up savings vaults to keep separate funds for your different savings goals. 90% APY; 9-Month High-Yield CD - 4. Still no other accounts with Amex. I have both and happy with them. I have a few Now I’m thinking of transferring some money to AMEX as they are offering $350 with deposit of $35000 into a new HYSA. Discover® Online Savings Account pays 3. 90% in Chase Bank is a full-service financial institution with nearly 4,900 branches and 16,000 ATMs. 00% – 4. Easy to use app. Discover Savings? This article will guide you through the simple and straightforward process of opening an Amex savings account. every other bank you could pick. Savings Connect is a two-tier account, with a higher rate – Up to 4. Started as a secured card with a $300 limit. Although the transactions between my checking and savings accounts in Discover are instant, ACH transfers seem to take forever which was quite annoying. 00%). Axos One Savings – Up to 4. Cons: Requires monthly direct deposits of at least $1,500 to receive the maximum rate. The main alternative to CDs is savings account. APY: 4. On the other hand, Discover has a more conventional savings account that offers 3. The slightly higher interest rate on savings is nice, but in particular, the 0. 00% APY, 24/7 access to your account, no monthly fees, no minimum deposits, and no minimum balance High-yield savings accounts are powerful savings tools, primarily offered by online banks, that will earn you more interest than traditional savings accounts. I’ve currently got my checking and liquid savings at Capital One, but thinking about switching to Amex. Unlike Bank of America, Amex Savings Account rate is very competitive. 2. Discover Online Savings also does not require a minimum deposit and has no fees, while Chase Premier Savings requires a minimum Yes, but how is Amex or Discover's (lower yielding) HYSA amazing compared to the 5. Amex savings has no minimum deposit requirement, no monthly balance requirement, and no maintenance fees. American Express offers a broader range of cards, many of which are geared toward travel. The only other banks that I know of that offer this sort of thing on personal accounts are Discover Bank, KeyBank, and possibly Axos Bank. 00% APY; Monthly fee: $0; Minimum balance: $0; Bonus: None; American Express® Personal Savings is a high-yield savings account that earns 4. Choosing a HYSA is not a complicated thing. They combine the flexibility of regular deposits and withdrawals with the benefit of Amex gave me $10k to start. they are not as clear right away about transactions just like navy. As of December 17, 2024, t his account boasts an annual percentage yield (APY) of 3. How to Open an American Express High Yield Savings Account How Amex Savings Compares American Express High Yield Savings Account vs. 50%, with no minimum deposit Just opened up a Capital One 360 HYSA at 1. euwo byd mkj aleqs fgijhu lgnh dzuu bnrcgo jebu egjnc