American Express Savings Accounts

[randomness123]

I got a piece of mail from  American informing me of their savings options. They have a high yields savings account which has 1.3% APY (higher than any of my banks in the area, although nothing too great). I was just wondering other peoples opinions on opening it. Im always looking for a better interest savings account. There seems to be no fees and there isnt either a minimum balance. More info is on their site: www.americanexpress.com/startsavings

[Dan]

If you're a Costco member you can get 1.4%+10% bonus with Capital One:

And you get $20-$60 for signing up.

[randomness123]

Thanks!

[moish]

you might want to check out the bank direct offer i posted. if you value your aa miles at only 1.5 cents per mile (there are definitely instances where they are worth far more such as my around the world trip in business class for 150,000 miles) it gives you 1.8% annually tax free, and since its a checking account its fully liquid. on top of that they give you 1000 miles when you sign up, and an additional 1000 if i refer you http://www.dansdeals.com/forums/index.php?topic=1464.0

[mancunian]

small banks were offering 4-5% on high yield checking accounts for balances up to $25,000 last year...

[randomness123]

small banks were offering 4-5% on high yield checking accounts for balances up to $25,000 last year...

yup, "last year"! hopefully it'll go back up though

[moish]

small banks were offering 4-5% on high yield checking accounts for balances up to $25,000 last year...

after the recession or before?

[mancunian]

after. i just googled it - theyre still around a bit with rates around 3-4%. small banks and credit unions, some have requirements to join the credit union, some dont - it looks like most require direct deposit and debit card purchases to get the rates...