American Express Rewards Checking
American Express National Bank offers a 1.00% APY with no monthly fee, no minimum, and strong 24/7 customer service, held at American Express National Bank (Member FDIC), which we confirmed is an active FDIC member. The rate and terms come from NerdWallet, our verified data partner with direct provider relationships.
Is the American Express Rewards Checking worth it?
The American Express Rewards Checking offers a 1.00% APY with no monthly fee, no minimum, and strong 24/7 customer service. It earns a 1.00% APY. We source these terms from NerdWallet, our verified data partner with direct provider relationships. These figures carry our ◆ Partner data label — we did not fetch them from the provider ourselves.
The account is held at American Express National Bank. We confirmed with the FDIC that it is an active insured institution — certificate #27471 in Sandy, Utah. Deposits are covered up to $250,000 per depositor, per ownership category.
The honest caveat: the rate and terms are partner-supplied and the APY is variable, so confirm the current details on the provider’s own site before opening. This is not financial advice.
How does a checking account work?
A checking account is built for everyday spending and bill pay, with a debit card and unlimited transactions. Some, like this one, also pay interest as an APY. The rate is variable, and any earned interest is taxable.
How much could you earn with the American Express Rewards Checking?
At a 1% APY, a $10,000 balance in the American Express Rewards Checking earns about $100 in interest over a year, before taxes. Double the balance and you roughly double the interest; your real return depends on how long the rate holds.
Illustrative estimate based on the figures on this page, not an offer. Your results will differ.
What are the pros and cons of the American Express Rewards Checking?
The American Express Rewards Checking stands out for 1.00% APY, sourced from our verified data partner, though rate and terms are partner-supplied — not fetched from the provider ourselves.
- 1.00% APY, sourced from our verified data partner
- No monthly fee and no minimum to open
- Held at American Express National Bank, an FDIC member we confirmed with the regulator
- Rate and terms are partner-supplied — not fetched from the provider ourselves
- APY is variable and can change without notice
- Online-focused account with limited or no branch access
Who should get the American Express Rewards Checking?
The American Express Rewards Checking is best for people who want a no-fee checking account.
- People who want a no-fee checking account
- Savers chasing a strong APY
- Anyone who wants FDIC-insured deposits
How does the American Express Rewards Checking compare?
Among the 9 checking accounts we track, the American Express Rewards Checking ranks #2 with a money8020 score of 96/100.
| Product | Score | Tier | Provider |
|---|---|---|---|
| Capital One 360 Checking | 97 | Essential | Capital One |
| American Express Rewards Checking | 96 | Essential | American Express National Bank |
| Chime® Checking Account | 96 | Essential | Chime (banking via The Bancorp Bank, N.A.) |
| nbkc Everything Account | 94 | Essential | nbkc bank |
| SoFi Checking and Savings | 93 | Essential | SoFi Bank |
See all checking accounts, ranked →
Common mistakes to avoid with a checking account
- Carrying a balance you think earns interest without confirming the rate and any requirements to earn it.
- Ignoring the overdraft policy until a transaction overdraws the account.
- Missing direct-deposit or activity requirements that unlock the rate or fee waiver.
- Treating checking as savings — a high-yield savings account usually pays far more.
Key takeaways
- American Express Rewards Checking earns a money8020 score of 96/100, ranking #2 of 9 checking accounts.
- 1.00% APY, sourced from our verified data partner
- At a 1% APY, a $10,000 balance in the American Express Rewards Checking earns about $100 in interest over a year, before taxes.
- Best for people who want a no-fee checking account.
- Rate and terms sourced from our verified data partner, NerdWallet.
Frequently asked questions about the American Express Rewards Checking
What does the American Express Rewards Checking offer?
Per NerdWallet, our data partner, it offers a 1.00% APY with no monthly fee, no minimum, and strong 24/7 customer service. The APY is variable and can change without notice — confirm current details on American Express National Bank's own site before opening. This is not financial advice.
Is the American Express Rewards Checking FDIC insured?
Yes. Funds are held at American Express National Bank, which we confirmed with the FDIC is an active insured institution (certificate #27471, Sandy, Utah). Deposits are insured up to $250,000 per depositor, per ownership category.
Does the American Express Rewards Checking charge overdraft fees?
Overdraft terms vary by bank — some charge a fee, others offer a fee-free buffer or decline the transaction. Review the account's overdraft policy before relying on it.
Can the interest rate on the American Express Rewards Checking change?
Yes. Any APY on a checking account is variable and can change at any time. Confirm the current rate and any requirements to earn it on the provider's site.
Sources
We sourced these figures from our verified data partner and independently confirmed the provider’s regulator status, last checked May 30, 2026. Primary sources: