Since Oppo seems to have some interest in finances, I thought I’d mention that American Express boosted the return on their high yield savings accounts to 2.10% APY. My personal Credit Union has a 0.10% APY with its savings accounts so if your bank or CU is like mine then we are talking about a huge difference!

*The current deposit max is $5 Million. You still gain interest on the money, but you cant deposit more money into the account. Also, if withdrawing, you’ll be required to withdraw an additional amount to bring the balance back down to $5 Million.

Basically, if you let $10,000 sit with Amex for a year, they’ll give you $210. That’s in contrast to my CU where they would give me back $10 for leaving that same $10,000 in my savings account.

There is no minimum balance, no monthly fees, it connects to your current bank/CU, and it’s FDIC insured! Just something to consider and if you do the 3 months emergency fund then this is a nice way to see it increase while keeping it reachable without being too easy to get to.

I have thoroughly enjoyed how easy Amex makes it to get personal loans, do reconciliation for business expenses, and their services in general. Just something to consider, do your own thingy-thang!