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 &amp;quot;FAQ&amp;quot; and &amp;quot;How do I&amp;quot; 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.
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.
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.