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American Express Bank, FSB Customer Reviews

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Bank Rates
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Overall Satisfaction

American Express Bank, FSB Latest Customer Reviews

deutsch's Profile Image

Reviewed by deutsch

May 21st 2014

1 out of 5 marks

Needs to link to Amex credit card

I have both an american express credit card and the FSB personal high yield savings account. Problem is, the two are not linked! That's correct, you cannot go on the FSB webpage to your savings account and pay directly to your Amex credit card balance. I provided that feedback to the bank and they said they would pass that suggestion to their leadership team, as it makes very good sense! That is insane, and this transfer function needs to be added immediately or I will close my FSB savings account.

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itmanager's Profile Image

Reviewed by itmanager

Feb 24th 2014

1 out of 5 marks

HORRIBLE

1. Opened a HYSC (high yield savings account) jointly with my wife.

2. I transposed two digits of my wifes ssn.

3. They froze my account.

4. Did not contact me. I had to contact them. over 4 times.

5. I fully admitted, verified the correct SSN, said I could provide any evidence they wanted of such, had my wife present....... No good.

6. They said we had to get an original letter from SS office stating my wife is who she is, with her ssn. OR I could close out account.

7. Called Social Security office. You know what that entails......

Basically taking a day off from work, bringing birth cert. , first born, finger prints, deceased parents records......... (little exaggeration here)

8. We chose to close account.

9. Called in and asked to close account. Said it would be 2-3 business days.

10. one week....... no contact

11 Two weeks ...........no contact.

12. I called .............. Oh... you account is restricted.........

13. Please let me talk to supervisor....... Sorry nothing I can do..............

So they've had my money for over a month now and I cannot access it. PERIOD..... Mind you it is not a HUGE sum of $. 104,000. But large enough.

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JHayes's Profile Image

Reviewed by JHayes

Dec 23rd 2013

2 out of 5 marks

So frustrating and maddening I had to take up zen meditation.

The confirmation papers say one thing, but then the card is denied. My credit is excellent, I rarely use credit, and now I remember why. I chose this card carefully and opened the account for the sole purpose of making a single large purchase, and then on the morning of the purchase, the card was denied. I tried to contact customer service but the wait times are so absurdly long that I had to make a decision and just paid using other funds. I tried later to contact AmEx again and after being passed around from chat to phone to phone to phone and waiting on hold for 30 minutes the call was somehow disconnected. I regret opening the account and I'm left with frustration and ill will towards this colossal credit institution that cannot do what they say or find time to help me when I seek help. Finally, online AmEx does not offer a platform for complaints or expressing dissatisfaction, and I can't even send them an email. I guess they thing they're perfect or untouchable or something or just don't care.

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GrantMorgan's Profile Image

Reviewed by GrantMorgan

Nov 28th 2013

2 out of 5 marks

So very, very bad

First be aware of the extended times you must wait until you can withdraw funds. We had the experience that several weeks after our deposit, they would not honor a withdrawal until a lot of investigation into the validity of the deposit. After closing the account, there was interest left. They sent us a check for this amount. However they refused to honor the check because the account was closed. Never have been able to resolve this in spite of hours on the phone. We of course had bounced check charges from our bank also.

If they ask you to fax them a document when you call back they never can find it.

I asked once on this issue, "How long until you get back to me?" Answer, "10 business days." Of course that was a long time ago.

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Kreis's Profile Image

Reviewed by Kreis

May 24th 2013

2 out of 5 marks

Customer Service At This Bank In The Worst I Have Run Into In Fifty Years Of Banking.

I open a money market account with bank earlier this week. After the account was opened i found their customer service is by far the worst i have run into in fifty years of doing business at least twenty bank i have had account with. As soon as i can find another bank, i will be moving my account.

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Piller's Profile Image

Reviewed by Piller

May 9th 2013

4 out of 5 marks

Great Rates and Customer Service! Highly Recommended!

I have banked with American Express Bank now for several years. They have among the best (not always the best, but close) rates & very good customer service. If I would have one gripe with them it would be their website. Several things you can't do there that you should be able to but I have received messages that they are upgraded their website so hopefully they address these shortcomings & then I can't imagine a better place for your savings.

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medyakova's Profile Image

Reviewed by medyakova

Mar 5th 2013

1 out of 5 marks

the worth credit card

I had american express credit card for less than year. I had to cancel my account because of unprofessionalism of american express customer service. They provided me with misleading information in the regards of my dispute with Hotwire.com. I contacted customer service multiple times to make sure the problem will be taken care of and they were convincing me that American Express will do the best and will take care of my problem anyway. After all, American Express didn't resolve dispute in my favor and had to apologize for the customer representative's mistake in being unprofessional in a sense of promising things they are not able to provide. I will never recommend American Express because their reputation of being the best customer service provider among other other financial institution is really questionable.

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JonathanAdrianLaRo's Profile Image

Reviewed by JonathanAdrianLaRo

Jan 26th 2013

5 out of 5 marks

Wonderful Banking Experience

I have a bluebird account. No fees, charges or anything. I must say they are the best financial institution I have ever used. I would recommend them to anyone...

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Jackie W's Profile Image

Reviewed by Jackie W

Sep 25th 2012

4 out of 5 marks

Pretty Good

I had really great customer service! While I love the product, I think the website and features are very outdated. I would be nice if it had a better user interface on the website. It looks very old-school and I wish there was a way to see the routing & account number without having to search for it (similar to ING, my credit union and other banks).

Also, I would like to see some sort of mobile deposit feature.

What I don't like is the hold time for ACH/EFT credits once they hit the account. I have direct deposit set up which is available right away but all other incoming transfers are so lengthy in time. I've never seen anything like this. That's probably the biggest downside for me.

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dbrock's Profile Image

Reviewed by dbrock

Sep 18th 2012

1 out of 5 marks

Very Poor Customer Service.

I tried to set up a savings account online. After I finished filling out all the information, I was then instructed to call an 800 number.

The customer service representative I talked to had the personality of a piece of cardboard. It was like talking to a robot.

To cut a long story short, he said they could not approve my application for a SAVINGS account on the phone because I had remarried SIX years ago. I was told I would receive a letter with further instructions.

So when I received the letter, they wanted me to request a letter from the Social Security Administration verifying my social security number. I called them back. This customer service representative had the same personality of the guy I talked to before.

I don't know. Maybe they put their people through special training to sound like robots, but I would rather not do business with them. So I cancelled my request to open an account.

I went to ING and opened an account the very same day. A much more pleasant experience, and I highly recommend ING services but NOT American Express.

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Query's Profile Image

Reviewed by Query

Jun 14th 2012

1 out of 5 marks

Poor expereince !

It holds the payment upto 5 days. then money is out of my bank acount but not showing in the on line account.

Also they keep the merchant credit for a very long time.

Since they are the bank I am sure they have good reasons for it. and

not a good game for customers.

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Jason R's Profile Image

Reviewed by Jason R

Jun 12th 2012

1 out of 5 marks

Bad web interface, poor mobile functionality, disingenuous notification policy or lack thereof

I opened an interest bearing Personal Savings Account in March 2012 knowing I would have family summertime expenses in May and June, so I had intended to make several transfers to another external account. The last 2 transfers that I executed simply *never* happened. There was no email saying the transfer did not occur, no web interface alert, no phone call from Customer Service, there was *nothing*. After the first failed transfer, I checked my account via mobile phone and saw that the website was down. Absent *any* notification, I assumed that perhaps the first of the two failed transfers were a result of the weekend outage. The following business day, I attempted another transfer and waited. For those that do not have an AMEX Savings Account, it is important to note that while walking through each step of the transfer process through the website, the completed transaction *appears* to have been executed without issue. Immediately after executing the transaction, you can even check under the "Scheduled External Transfers" weblink and the transfer shows up. After the second transfer failed to occur without notification, I called Customer Service. Initial interaction was perfunctory, but detached. After explaining my situation, the representative said that there is a Federal monthly limit on savings account transfers (6) and that I had reached my limit. After escalating my manner of communication complaining that omission of digital alerts seems less overlooked and more disingenuous, the representative admitted that many others had called and were equally apoplectic. To add insult to injury, I was informed that I would have to wait an additional 2 weeks before I could access any of the funds in the Savings Account. I'll be taking my money out of this account and I recommend others be advised before using any company that has problems digitally notifying account holders of account-related issues.

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Philip H's Profile Image

Reviewed by Philip H

May 14th 2012

3 out of 5 marks

Great If You Bank Like It's 1983

The experience for opening accounts is very subpar. First you can't even access your account until you have confirmed the initial transfer, wait several days for that to complete, then finish activating your account.

If you're like me and prefer to set things up with Mint.com, get your account numbers in order, setup transfers from additional sources (you need an account number to do so), etc. you have to wait for your welcome letter to arrive via snail mail to receive your account number. So, again, I'm waiting another several days to get moving with setting up additional source banks because, even though you've confirmed and created your account, they will not show you your account number from within the OURSOURCED ONLINE INTERFACE. Other banks I've used hide the number but give you the option to manually show it in it's entirety.

I'm only using the Amex account because they currently connect to Mint.com whereas TIAA Direct does not. I wouldn't be banking with anyone but Ally but unfortunately I need to separate my savings from my main accounts with Ally. Apparently I've become spoiled, expecting things to be streamlined and effortless.

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montanasunrise's Profile Image

Reviewed by montanasunrise

Mar 10th 2012

3 out of 5 marks

Most importantly their customer service is based on what their rules say. I felt like the CS reps were reading rules

The credit card service is separate from the online "bank." Reviewing only the bank, I always seek the best value so I combined the savings/CD rates with the AmEx brand, thinking it would be a great experience. The first thing that happened was the interest rate dropped noticeably within two months. Coinciding with that I found the website totally inadequate. It was so basic that it was like chicken soup without the chicken. There was no way to communicate with the bank except by calling. No live chat...no e-mail/correspondence link. When I called the customer service reps seemed to reading from a script and that seemed the priority over giving good customer service. When their interest rates dropped below many others, it was easy to leave.

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adellag1970's Profile Image

Reviewed by adellag1970

Mar 10th 2012

5 out of 5 marks

I love American Express!

I love American Express Bank and all of their products. Customer service is second to none!

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Rusty5149's Profile Image

Reviewed by Rusty5149

Nov 20th 2011

5 out of 5 marks

American Express has top-notch customer service. I am happy with my account.

I opened a high-yield personal savings account with American Express. It is easy to transfer funds between external accounts; however, the transfer does take about 6 days. This doesn't bother me though because I can just plan in advance when I need to schedule transfers.

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dgrizz99's Profile Image

Reviewed by dgrizz99

Nov 15th 2011

1 out of 5 marks

Terrible

I have , or did have an American Blue card...I have after receiving a notice that my APR went from 6-9% up to 22-27% interest. I have since cut my cards and put the bastards in debt consolidation program which American Express does not accept. I did the next best thing and used my bank to set minimum balance payments for American Express and keep it until my other cards were fully payed through debt consolidation. Well I checked online and noticed a $25.00 late fee that transacted on Sunday October 23. There was no notice of this charge and later found out they raised my minimum payment without my knowing.

These are the 1% that go after the 99%! My payment is 2/3 interest to 1/3 toward balance. I told them after calling that at the end of my payment schedule with the debt consolidation firm, I would pay the account off in four installments to satisfy my obligation and they could in turn shove their card!

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Lynn G's Profile Image

Reviewed by Lynn G

Nov 4th 2011

4 out of 5 marks

great

wonderful easy way to bank

great help in being online

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HLM's Profile Image

Reviewed by HLM

Nov 2nd 2011

5 out of 5 marks

ALL online savings have dropped their savings rates, but AMEX FSB has maintained above point-percentage savings.

Having a safe place to store liquid funds *and* yield interest is not an easy find these days. Being that AMEX FSB has managed to maintain 1.00% savings yield combined with the AMEX Cash Card reputation of above-average customer service is a magnet drawing customers to choose this online savings as the destination for their cash. I’ve also recommended this online savings option to my family, friends and colleagues.

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jbx72487's Profile Image

Reviewed by jbx72487

Nov 2nd 2011

4 out of 5 marks

Great! online interface needs work though

I have a high-interest savings account with them, and my experience has been good so far. The interest rate is high, and there haven't been any hidden fees yet. The web interface isn't the most intuitive, but it does the job.

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KP's Profile Image

Reviewed by KP

Jul 22nd 2011

4 out of 5 marks

Always On Point!

Amex, you guys are excellent. Your transactions reconcile faster then any other banks I deal with, your gold card knows no limits (pardon the pun), & your customer service is top notch. Never an issue disputing a charge on the off chance I have one and each time I have to use customer service, the staff is empowered to take a corrective step if necessary rather then asking a manager ever 30 seconds.

Why not a perfect score? The fees. To be honest, their fees are a little up there and I think some of the higher fees on the market. I'm sure they use that money to pay for their excellent customer service reps. Right? Right?

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Bankster's Profile Image

Reviewed by Bankster

Mar 19th 2011

3 out of 5 marks

OK

High-yield savings account's overall web interface is not that good, it's very basic compare to Ally. Can add only 3 external transfer bank accounts. New account sign up was a hassle. The customer service when you call is as good as Ally. As with other high-yield savings accounts, do not use their external transfer service to deposit into since holding period is like a week.

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David D's Profile Image

Reviewed by David D

Mar 5th 2011

4 out of 5 marks

Very good. Customer service is on par with ALLY and better than HSBC by far. I Always get someone who speaks english!

Until today I've been happy with the savings account interest rate, (Last month it was 1.32%!), Then I noticed that today it dropped to 1.14%?. The monthly savings account interest rate is not fixed despite what it implies on the home page. For example, it dropped slightly for my Jan statement to 1.28%. A minor thing, but worth noting as it will also occasionally be higher.

It takes forever for funds to transfer into the AMEX savings account. They say 4-5 business days, it's more like 7-8. Much slower than say HSBC (4 Business days) or ALLY (2 Business days).

When transferring funds out of the AMEX account it's usually done the next business day.

When funds are being transfered in, AMEX will post it as 'Current Balance' while the actual funds are posted as 'Available Balance'. AMEX Savings always credits the amount listed as 'Current' when they apply interest on the monthly savings account, which is nice as most (ALLY - HSBC etc.) banks use average monthly balance to determine the amount of interest.

No debit card is issued for AMEX saving accounts so funds are not always readily available. Cheers!

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Joni's Profile Image

Reviewed by Joni

Feb 22nd 2011

5 out of 5 marks

Great Saving Account! But it would be awesome if...

I love this account so far. Easy to add transfer account, easy to direct deposit into (once you find their routing number), and direct deposits are available right away. Being able to categorize the transactions and generate custom reports is also a plus.

How they could improve:

1) Allow users to manage their bank accounts and their American Express credit cards via the same online login. Currently, you have one login account for your bank accounts and another login account for your credit cards.

2) Try to decrease the amount of time it takes for bank transfers to clear. Currently waiting 10 business days for bank to bank transfers. On the positive side my direct deposits were immediatley available.

3) Improve the "FAQ" and "How do I" sections by making them searchable. Currently you have to do a lot of link clicking in your attempts to find the information you're looking for.

4) Increase the APY. Sure, they offer a very competitive rate right now (which you can take with a grain of salt as most APY offers are much lower than they were a few years ago) but sometimes I'm torn as to whether to place my funds in this account or in my investment account to try for a higher return.

5) Offer a checking account. I'd love to have a checking account with a company I trust. From my past experience as an American Express credit card holder and now savings account holder, I trust them with my money. It'd be great if I could migrate my current checking account to American Express.

Is this review helpful? ▲ Yes 5 ▼ No 0

Stephen B's Profile Image

Reviewed by Stephen B

Feb 21st 2011

5 out of 5 marks

Good Savings account with no hassles to Own. Deposits take a while to be available

Well it is just a basic savings account so there really is no glitz and glamour. I use to to stash away money to save up for gifts and such since the interest is the best that I have found. My only problem with the account is that it takes forever for the money to be available (at least 6-8 days). I would definitely not use this as an emergency fund account since the funds are not as liquid as they could be.

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Austin H's Profile Image

Reviewed by Austin H

Feb 17th 2011

5 out of 5 marks

Excellent Customer Service, Attractive Offers, Nice Web Site

I have used Citi, PNC, JP Morgan Chase, Barclay, etc. No one compares to American Express. I have been telling friends and family about them non stop. The Web Site is nicely designed, Mobile Apps for iPhone etc.

The Charge Card is only $25 fee Excellent, (AMEX - Zync). The rewards are very attractive and the extended warranty is well worth the membership fee. The Customer Service is the friendly I have seen!

CreditSecure is another program I use from them, Excellent design. Impressive information.

Blue Cash - Credit Card - Is my first business with them. No Annual Fee, if you use Credit Card a lot, GREAT way to bring home extra cash at the end of the year. (Decent rates on cash back).

I really would recommend you try out an American Express card.

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Nicholas C's Profile Image

Reviewed by Nicholas C

Jan 12th 2011

5 out of 5 marks

So far, so good...

So this is the second online HY savings account that I have opened in the past two days... the other was a Sallie Mae (SM) account. I found the opening of the account process was very easy and seemed more secure than Sallie Mae. I know some people won't like the fact that you have to call AMEX to verify information as that takes away from the "completely online" expreience, but I thought it seemed more secure that way. Overall, I thought the two account opening processes (SM and AMEX) were comparable and there were no major differences... quick and easy! Also, I wanted to mention that when I called AMEX to verify my information I was only on hold for > 1 minute, which I was not expecting!

As for the web interface, I found it to be almost too simplistic, but I anticipate that it will evolve as they are a fairly new bank. Again, SM's and AMEX's web interfaces are also very comparable. Similar to what I mentioned in my SM review, I mainly went with AMEX for the reputation in the credit card industry and not necessarily for their higher than average interest rates (as my puny $0 initial deposit and $400 a month savings does not earn much interest).

I have yet to make any transfers as I have JUST opened the account, but from what I have read AMEX is one of the fastest at transfering funds. I sure hope that never changes.

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RIPTO C's Profile Image

Reviewed by RIPTO C

Dec 31st 2010

3 out of 5 marks

YES,I LIKE TO OPEN ACOUNT

I AM TO OPEN ACCOUNT BECAUSE I LIKE BANK

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Lucracy's Profile Image

Reviewed by Lucracy

Dec 2nd 2010

5 out of 5 marks

Lowered APR in under 5 minutes!

I've been reading in several blogs about one of the simplest ways to lower your credit card's APR is simply to ask. I've had my Amex card since 2006 with my most recent APR at 17.24%. After putting it off for several weeks I finally called. The first person I talked to (didn't even have to be transfered to a supervisor or manager) was able to knock off 2% just like that. It's not a lot but every little bit counts. Very pleased with this experience.

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David R's Profile Image

Reviewed by David R

Jun 23rd 2010

5 out of 5 marks

CD & Savings Account at great rates, simple and easy.

CD Rates are great and are backed up by a bank with a great reputation. My high-yield savings account links to a checking account at another institution, transfers are free and quick. I can't live with out my bank because it helps me save money by making it simple and easy.

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