I opened my AmEx Personal Savings account two years ago and haven't had any complaints with them really. At the time when I was researching for a trusted bank offering higher rates, AmEx was one of them. I own an AmEx Platinum card as well, and figured I love the company and their customer service is satisfying - what could happen if I opened a savings account with them too? From the beginning to this very day, I have been making deposits on a weekly basis which is completely easy to do on the Personal Savings website. In addition, the website is user-friendly and makes my life that much easier to log in / log out after completing the transfers in under two minutes. I have only contacted their customer service once and received knowledgeable, proper customer care. Otherwise than that, I have been handling the accont on my own without any help all these years. The only complaint I have is the three business days for transfers, but I clearly understand this is the normal protocol with my external bank account as well. I guess I don't have much say in that in having the funds expedited. Then again, I schedule weekly transfers in advance for the month so there's no frustration with waiting for it to clear at the last minute because I've already anticipated this. I gave it a 4 stars because I don't withdraw funds from savings so I can't comment on it. Same thing goes for taking advantage of customer service regarding any questions or assistance, because I have been able to utilize their website and self-service options on my own without any help needed. Lastly, I'm not quite a fan of waiting three business days for transfers but I can live with it. It's not the end of the world.
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I could tell the customer service agent had been sleeping and just woke up when I first called to open this account. They didn't know the difference between a hard and soft inquiry. I called back the next day and was told that a hard inquiry would not be made to open the account. (still unconfirmed) I put $250k in my account and let it sit for a month, but they never updated my balance to reflect any interest earned. I tried to withdraw the money to my wife's bank account, which is allowed per their Deposit Account Agreement, but they refused. Even though I offered to provide proof that I have the authority to deposit, withdraw and exercise control over the funds in the account, American Express violated their own terms and conditions and insisted it must be my own personal account in my name that funds were being transferred to. They had absolutely no legal or ethical ground to stand on. I cannot stress enough that nobody should do business with any bank, such as American Express, that doesn't adhere to their own terms of service.