American Express Review 2026

American Express National Bank charges no monthly maintenance fee on its high-yield savings account and no monthly fee on its checking account, placing it on par with Ally Bank and ahead of traditional banks like Chase, which charges $12/month on its Total Checking account unless a $500 monthly direct deposit or $1,500 minimum daily balance waiver is met. American Express imposes no minimum opening deposit on its savings account — $0 to open — while Marcus by Goldman Sachs similarly requires no minimum. There is no ATM fee charged by American Express on its own network; however, because American Express National Bank participates in the MoneyPass ATM network (approximately 40,000 locations), out-of-network ATM fees are not reimbursed, which is a meaningful gap versus Ally Bank, which reimburses up to $10 per statement cycle in out-of-network ATM fees. American Express does not charge a foreign transaction fee on its checking debit card. Overdraft fees are eliminated: the checking account does not charge overdraft fees and declines transactions that would overdraw the account.

American Express earned the top score among all direct banks in J.D. Power's 2025 U.S. Direct Banking Satisfaction Study with a score of out of 1,000, ahead of second-place Capital One (714 was the industry average; Amex topped the direct bank segment). The American Express mobile app carries a 4.9-star rating on the Apple App Store and a 4.8-star rating on Google Play — among the highest of any U.S. bank. Features include mobile check deposit, real-time transaction alerts, account freeze, and Zelle integration for peer-to-peer payments. Early direct deposit (up to two days early) is available on the checking account. Account opening is fully digital — no branch visit required — and takes approximately five minutes. By comparison, Ally Bank's app holds a 4.7-star App Store rating, and Marcus by Goldman Sachs does not offer a checking account or Zelle integration at all, making American Express's digital suite more complete within the direct bank peer group. The online portal supports linked external accounts and same-day transfers between American Express savings and checking accounts.

American Express does not operate a traditional relationship banking loyalty program that rewards customers for maintaining larger deposit balances. Unlike Chase, which offers a Sapphire Banking tier with fee waivers and rate bonuses for customers maintaining $75,000 or more, or Bank of America's Preferred Rewards program that boosts credit card cash back by up to 75% for customers with $100,000 in combined balances, American Express's banking products stand alone without a tiered rewards structure. The primary loyalty benefit is ecosystem integration: American Express checking and savings accounts are managed within the same Amex digital platform as credit and charge card accounts, allowing cardholders to pay card balances directly from linked bank accounts with no transfer delay. Membership Rewards points — earned on Amex credit and charge cards — are not awarded for banking deposits or debit card spending. Cardholders with premium products like the Platinum Card or Gold Card receive no incremental banking rate benefit. The loyalty value proposition for American Express banking is therefore implicit rather than explicit: simplified financial management within the Amex ecosystem rather than a point-earning or rate-bonus structure.

American Express National Bank operates with zero physical branch locations in the United States, functioning as a 100% digital bank — a structural limitation compared to Chase (approximately 4,700 branches) or Wells Fargo (approximately 4,500 branches). Customers who need in-person banking, cash deposits via teller, or safe deposit boxes cannot access those services through American Express. For ATM access, American Express participates in the MoneyPass network of approximately 40,000 fee-free ATMs nationwide, a comparable footprint to Ally Bank's Allpoint/MoneyPass access but smaller than Citibank's combined 65,000-ATM footprint. Cash deposits are not supported: American Express National Bank does not accept cash deposits at any ATM or retail location, which is a hard constraint for gig workers or cash-heavy businesses. Customer service is available by phone 24/7 and via the mobile app; there is no in-person service option. American Express checking accounts require existing eligible Amex card membership, gating access for new consumers who do not already hold an American Express credit or charge card — a further accessibility restriction that distinguishes it from fully open-enrollment direct banks like Ally or SoFi.