American Express Deposit Account Agreement

Connect your external bank account to your personal savings account and we`ll take care of the rest. Transfers usually last a maximum of 24 hours, depending on your bank and whether or not it is a business day.‡. Regardless of your credit, you will not be charged any tax. Without minimum assets, no deposit is too small.‡American Express National Bank has no retail sites. All you need is your external account information (account and routing numbers) to link it to your personal savings account. Once this is done, simply make all your deposits and withdrawals with ease online.† ♢The calculations are estimates of the expected interest. Actual results may vary due to various factors such as leap years, timing of deposits, rounding and changes in interest rates. The first recurring deposit should begin in the second period following a first deposit. Below are step-by-step instructions that you can help process a transfer to or from your personal savings account. Connect your external bank account to personal savings Transfer money in 1-2 business days to or from your personal savings account ‡We offer 24/7 support for your American Express® Personal Savings Account. If the interest leads you to exceed $5 million, you will continue to collect interest and your balance may exceed $5 million. However, you cannot make transactions that would result in the balance exceeding $5 million.

No deposit may be made that would have the effect of exceeding $5 million. To make an online payment when the account balance has exceeded $5M, you must withdraw an amount that would increase the credit to $5M or less. If you have a credit of more than $5M and would like to withdraw only part of the amount that exceeds $5M, please call 1-800-446-6307 to speak to a representative. Simply move money online into or out of your personal savings account. You can earn interest the same day or quickly access funds for other needs. You can also send or receive a check by email. Call us at 1-800-446-6307 to request a cheque for withdrawals. For deposits, write a check to the American Express National Bank and be sure to include your personal savings account number in the memo line. You can then email the check to: Earn 10X more interest than your average savings account — and watch your money increase. ** The National Average APY is published as of November 30, 2020 exactly, as published in the FDIC Weekly National Interest Rates and Rate Caps; The average interest rate is used for deposits under $100,000. Is there a limit on the amount I can deposit into my account? Cheque deposits are accepted at our sole discretion.

We reserve the right to refuse, return or limit the deposits you make to your account. Examples of the types of items we do not accept for acomphement are checks, ATM checks, start checks, traveller`s cheques and payment instructions. You can make a one-time transfer or create recurring transfers – you have a choice….