American Express National Bank offers a competitive online High Yield Savings Account with no fees and no minimums. RMO Bank savings offers member-rate pricing and a real retail-center option. Here’s how they compare.
Both are FDIC-insured and free to open. The ecosystem and in-person option differ.
American Express HYSA is operated by American Express National Bank (Member FDIC). RMO Bank deposits are also FDIC-insured per disclosure.
RMO Bank Savings vs. American Express HYSA on rate, fees, and ecosystem.
| Feature | RMO Bank Savings | American Express HYSA |
|---|---|---|
| Bank | RMO Bank | American Express National Bank |
| Account type | Personal savings, CDs, money market | HYSA + CDs |
| APY | Member rates — see /resources/rates | Public online APY |
| Monthly fee | $0 | $0 |
| Minimum deposit | $0 | $0 |
| Minimum balance for APY | $0 | $0 |
| FDIC insurance | Yes | Yes |
| Mobile + online banking | MyRMO | Amex Personal Savings app |
| In-person retail option | Yes — RMO retail centers | No |
| Bundles with cards | Yes — via RMO membership | Yes — with Amex card account |
Comparison details summarized for context. See RMO Bank savings disclosures and American Express HYSA terms for current rates, fees, and conditions.
American Express HYSA is a clean focused online savings product. RMO Bank savings adds member pricing, CDs and money market under one membership, and a retail center option.
Become an RMO member and open an RMO Bank savings account online in minutes.
Move funds from your existing savings account and redirect any recurring transfers to RMO.
Once your balance has moved and transfers are flowing to RMO, close your previous account.
Member-rate pricing is typically competitive with leading online HYSAs. Rates change — check current RMO rates at /resources/rates and verify Amex’s current rate directly.
Yes. Many savers split across two FDIC-insured banks for diversification and rate-shopping flexibility.
Historically Amex Personal Savings has not included a debit card or ATM access — transfers in and out are via ACH only. RMO Bank savings include ATM access at RMO and partner ATMs.
Typical ACH transfers at both banks take 1-3 business days to settle. Internal transfers between RMO accounts are usually same-day.
Both banks operate within current Federal Reserve guidance on savings withdrawals. Excessive-withdrawal fees are not standard at either today; verify in current disclosures.
Guides, plans, and more RMO comparisons to help you decide with confidence.
Become an RMO member and open an RMO Bank savings account, CD, or money market account. FDIC-insured, member rates — see current rates at /resources/rates.
