How to Move Money Out of Your American Express Savings Account

Wire transfers from American Express Bank savings accounts work differently than from traditional banks

American Express Bank does not offer wire transfers directly from its savings accounts. Instead, you move money out through ACH transfers (electronic transfers between bank accounts that take one to three business days) or by withdrawing cash. If you need to send money to another bank account, ACH is your main option. If you need to send money to someone who does not have a bank account, or if you need the transfer to arrive the same day, you will need to use a different method.

This is not unusual — many online banks and savings-focused accounts do not offer wire transfers because they are designed for saving rather than frequent moving of money. Understanding what you can and cannot do with your American Express Bank account helps you plan ahead instead of discovering a limitation when you need the money quickly.

Key Takeaways

American Express Bank savings accounts do not support wire transfers, but you can move money out using ACH transfers to another bank account.
ACH transfers take one to three business days and work between most U.S. bank accounts without additional fees.
If you need same-day money movement or to send funds to someone without a bank account, you will need to withdraw cash or use a different account type.
You set up ACH transfers through your American Express Bank online account by providing the receiving bank's routing number and your account number there.

How ACH transfers work from your American Express savings account

An ACH transfer is an electronic movement of money from one bank account to another. When you initiate an ACH transfer from American Express Bank, you are telling the bank to send money to a receiving account at another bank. The receiving bank's routing number (a nine-digit code that identifies that bank) and your account number there are what the system needs to find the right place to send the money.

To set up an ACH transfer, log into your American Express Bank account online, find the transfer or move money section, and enter the receiving bank's details. You will need the routing number and account number of the account where you want the money to go. American Express Bank will ask you to verify this information, sometimes by making small test deposits to that account first, to make sure the money goes to the right place.

The transfer itself takes one to three business days. This means if you start a transfer on a Friday, the money might not arrive until Tuesday. American Express Bank does not charge a fee for ACH transfers out of your account, though the receiving bank occasionally does (though this is rare).

When you might need a wire transfer instead

A wire transfer is faster and more direct than an ACH transfer — the money can arrive the same day or the next day, and it is harder to reverse once sent. Because of this, wire transfers cost money (usually $15 to $30) and are used for time-sensitive or large payments. If you are buying a house, paying a contractor a large sum, or sending money internationally, a wire transfer is often what is expected.

Since American Express Bank does not offer wires from savings accounts, you have two choices. First, you can transfer money from your American Express savings account to another bank account you own (using ACH), and then wire the money from that account. This takes extra time but works if you have another bank account. Second, you can contact American Express Bank customer service to ask whether they offer wire transfers from other account types, or whether they have a workaround for your specific situation.

Moving money to accounts at other banks

If the receiving account is at a different bank — say, you want to move money from American Express Bank to your checking account at Chase — ACH is the standard method. You will need Chase's routing number (which you can find on a check, on Chase's website, or by calling Chase) and your account number at Chase. Once you enter these into American Express Bank's system and verify them, you can transfer money whenever you need to.

Some people set up this transfer once and then use it repeatedly. American Express Bank will remember the receiving account details, so the second time you transfer, you just enter the amount and confirm. This is useful if you regularly move money from savings to checking to pay bills.

Withdrawing cash as an alternative

If you need cash rather than a transfer to another account, American Express Bank allows withdrawals. You can withdraw money at ATMs that are part of the MoneyPass network (a large network of ATMs across the country), or you can request a check mailed to you. Withdrawals at MoneyPass ATMs are free, and checks are also free, though a mailed check takes five to seven business days to arrive.

If you need cash when ready and do not have access to a MoneyPass ATM, you can also transfer money via ACH to another bank account you own, then withdraw from that bank's ATM or branch. This takes longer than a direct withdrawal but works if your local bank has a branch near you.

What to do if you need same-day money movement

American Express Bank's savings account is not designed for same-day transfers. If you regularly need to move money quickly, you might consider keeping a separate checking account at a bank that offers wire transfers or same-day ACH (sometimes called "next-day ACH" or "real-time payments"). You can still use American Express Bank for savings and transfer money to your checking account when you need it, but the checking account becomes your hub for urgent transfers.

Some banks now offer real-time payments, which move money between accounts in minutes rather than hours or days. American Express Bank does not currently offer this, but it is worth asking customer service whether this is something they plan to add.

Frequently Asked Questions

Can I wire money directly from my American Express Bank savings account?

No. American Express Bank does not offer wire transfers from savings accounts. You can use ACH transfers instead, which take one to three business days and are free, or you can withdraw cash.

What information do I need to set up an ACH transfer?

You need the routing number and account number of the bank account where you want the money to go. The routing number is a nine-digit code specific to each bank. You can find it on a check, on the bank's website, or by calling the bank.

How long does an ACH transfer take?

One to three business days. If you start the transfer on a Friday afternoon, the money typically arrives by Tuesday. Weekends and bank holidays add to the time.

Is there a fee for ACH transfers from American Express Bank?

No. American Express Bank does not charge a fee for outgoing ACH transfers. The receiving bank occasionally charges a small fee, but this is uncommon.

What if I need to send money internationally?

American Express Bank does not offer international wire transfers from savings accounts. You would need to contact customer service to discuss options, or transfer money to another bank account that offers international wires and send from there.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.