American Express Is Among the Most Trusted Banking Names — What That Could Mean for Your Savings

I keep roughly $25,000 in an emergency fund. Since that money may need to be available at a moment’s notice, it has to live in an account that is safe, easy to access, and, ideally, still earning something while it waits.

After comparing dozens of accounts for Motley Fool Money, I continue to point readers toward the American Express® High Yield Savings Account — and trust is a major reason.

Here’s how using the American Express® High Yield Savings Account could affect your savings going forward.

Why trust is important when picking a savings account

It’s easy to focus only on annual percentage yield, or APY, when shopping for a savings account. The rate matters, but it is only part of the picture.

A dependable savings account should offer fraud alerts that actually function, customer support that answers when problems arise, and no hidden fees waiting in the fine print.

Those features can make it easier to feel comfortable leaving your cash in savings, which is really the point of an emergency fund.

The American Express® High Yield Savings Account checks those boxes. It offers a competitive 3.10%¹ APY, does not charge monthly fees, and has no minimum deposit requirement to open or ongoing minimum balance².