You need to be a U.S. resident with a Social Security number, but American Express does not restrict the account based on credit score or banking history

American Express Bank offers a high yield savings account to most people who meet basic requirements: you must be at least 18 years old, a U.S. resident, and have a valid Social Security number. Unlike some banks, American Express does not check your credit score or require a minimum deposit to open the account. You will not be turned away because you have had past banking problems, missed payments, or no banking history at all.

The main barrier is not who you are — it is where you are. You must live in one of the 50 states or Washington, D.C. If you are a non-resident alien or do not have a Social Security number, you cannot open this account through the standard online process. Military personnel stationed overseas may have different options; contacting American Express directly is the fastest way to find out.

The account itself is entirely online. You do not visit a branch, and American Express does not have physical locations where you can open an account in person. Everything happens through their website or mobile app, which means you need a computer or phone and an internet connection to get your free guide.

Key Takeaways

  • American Express does not deny the account based on credit score, past banking problems, or lack of banking history.
  • You must be at least 18, a U.S. resident with a Social Security number, and live in one of the 50 states or Washington, D.C.
  • There is no minimum deposit required to open the account, though you will need money to transfer in to earn interest.
  • The entire process happens online through the American Express website or app — there are no physical branches.
  • Non-residents and people without a Social Security number cannot open this account through the standard process.

What you need to have ready before you start

Gather these items before you begin the online process. You will need your Social Security number, a valid government-issued photo ID (driver's license, passport, or state ID), and your date of birth. American Express will ask for your current address and a phone number where they can reach you.

You will also need a way to fund the account. Most people link a checking account from another bank and transfer money in. American Express accepts transfers from accounts at other banks, and the money usually arrives within one to three business days. You can also deposit by mail, though that takes longer. Have the routing and account number of the bank account you plan to use, or be ready to look it up during the sign-up process.

The online sign-up process and what happens next

Go to the American Express Bank website and select the option to open a savings account. You will enter your personal information, including your name, address, date of birth, Social Security number, and phone number. American Express will verify your identity using information from credit bureaus and public records — this is standard practice at banks and takes a few minutes.

Once your identity is confirmed, you will create a username and password, set up security questions, and choose how you want to receive statements and alerts. The entire process usually takes 10 to 15 minutes. American Express will send you a confirmation email, and your account is typically ready to use the same day or the next business day.

After your account opens, you can link an external bank account and transfer money in. Your first transfer may take longer than later ones — sometimes up to five business days — while American Express verifies the linked account. After that, transfers usually move within one to three business days.

What happens if you do not have a Social Security number

American Express requires a Social Security number for the standard online account opening. If you are a non-resident alien, an immigrant without a Social Security number yet, or someone who has not been issued one, you cannot open this account through their website.

Some people in this situation have had success calling American Express Bank directly to ask about alternatives, though the bank does not advertise a separate process. If you are in this position, contact their customer service line and explain your situation — they may be able to tell you whether an exception is possible or direct you to another American Express product that works for you.

Age requirements and accounts for younger people

You must be at least 18 years old to open an American Express Bank savings account in your own name. If you are younger than 18, you cannot open this account yourself, even if you have a job and a Social Security number.

A parent or guardian can sometimes open a custodial account for a minor, but American Express Bank does not offer this option. If you are under 18 and want a high yield savings account, you would need to look at other banks that offer youth or custodial accounts. Once you turn 18, you can open the American Express account on your own.

How past banking problems affect your chances

American Express does not check ChexSystems or other banking history databases before opening a savings account. This means that if you have been denied a bank account elsewhere, bounced checks, or had an account closed for overdrafts or fraud, American Express will not automatically reject you based on that history.

However, American Express will verify your identity using credit bureaus and public records. If there is a fraud alert or security freeze on your credit file, you may need to lift it before opening the account. If you have an active fraud case or are on a bank's internal list for suspicious activity, American Express may decline — but this is rare and usually only happens if there is a current legal issue.

The safest approach is to start the process and see what happens. If American Express denies you, they will tell you why and whether you can fix it. Most people with past banking problems are able to open this account.

Frequently Asked Questions

Do I need a minimum deposit to open the account?

No. American Express does not require a minimum deposit to open the account. You can open it with zero dollars and transfer money in later. However, you will only earn interest on money you actually have in the account, so you will need to deposit something to benefit from the high yield rate.

Can I open this account if I have been denied by other banks?

Probably. American Express does not check ChexSystems or other banking history databases, so past denials at other banks will not automatically disqualify you. However, if you have an active fraud case or security freeze on your credit file, you may need to resolve that first.

What if I do not have a government-issued ID?

You will need a valid photo ID to open the account. Acceptable forms include a driver's license, passport, or state ID. If you do not have one of these, you cannot open the account online. Contact American Express directly to ask whether any alternatives exist.

Can someone else open an account for me?

No. You must open the account yourself using your own information and identity. American Express will not allow a family member, friend, or representative to open an account on your behalf, even with your permission.

How long does it take to open the account?

The sign-up process takes 10 to 15 minutes. Your account is usually ready to use the same day or the next business day. Your first transfer from another bank may take up to five business days, but later transfers typically arrive within one to three business days.