American Express Rewards Checking Review

Earn 1.00% APY plus Membership Rewards on debit purchases. Independent American Express Rewards Checking review: 4.4/5 for checking.

By Michael Hewitt, Founder & Editor-in-Chief.

Our verdict

Only eligible U.S. Amex Card Members and existing Amex savings or CD customers can open this, and it pays 1.00% APY on all checking balances plus 1 Membership Rewards point per $2 of debit purchases, with no monthly fees. There are no branches and no ATM fee reimbursements, which is what keeps it from rating higher.

Skip it if you don't hold an eligible Amex card, savings account or CD, or you want ATM fees reimbursed.

About American Express Rewards Checking

Earn 1.00% APY plus Membership Rewards on debit purchases. American Express Rewards Checking is offered by American Express National Bank. Our editorial rating is 4.4 out of 5.

Best for: Existing Amex cardholders.

Editorial grade: A- (composite score 87/100).

Highlights

• 1.00% APY on all checking balances (no minimum)
• Earn 1 Membership Rewards point per $2 of debit purchases
• No monthly fees or minimum balance requirements

What we like

• Unique Membership Rewards earning on debit
• Competitive APY for a checking account
• Backed by Amex 24/7 customer service

Where it falls short

• Only open to eligible U.S. Amex Card Members and existing Amex savings or CD customers
• No physical branches or ATM fee reimbursements

Fees, minimums, and rates

Monthly fee: $0/month. Minimum to open: $0. Current APY: 1.00%. Rates and promotional offers change often, so check the provider's own page before you apply.

How we reviewed it

This is a desk review: we have not opened an account with American Express National Bank. It is built from American Express National Bank's published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Checking shortlist. Our bank-account reviews weight APY (30%), fees (20%), access and convenience (15%), account features (15%), trust and safety (10%), and customer support (10%). The rubric is the same for every brand.

The bank behind this account

• American Express National Bank, FDIC certificate 27471: capital, loan quality, every office and the complaint record.

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Read our full editorial methodology for how we review products.