In my early 30's and wanted a higher savings account versus other CD's/IRA's/etc. I was first going to open an Ally Bank Account but after I read all the horrible reviews, I thought to myself do I really want to trust my money to a bank I never really heard of. Then I saw this ad for American Express Savings account and how much they offer for their interest, the customer service is awesome, and I regularly make deposits every week. What else can I ask for? Getting money back in interest, having a nice nest egg saving up, and also with a trusted bank that has been around forever. Couldn't have asked for more. Thank you American Express, I am one satisfied customer.
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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.