You can name a beneficiary through your American Express online account or by calling their customer service line

A beneficiary is a person you choose to receive the money in your account if you pass away. American Express lets you name one or more beneficiaries on your savings account, and the process takes about 15 minutes whether you do it online or over the phone.

The simplest route is through your American Express online account. Log in, find your savings account settings, and look for a section called "Beneficiaries" or "Designate Beneficiary." You will enter the person's full name, date of birth, Social Security number, and relationship to you. If you prefer to do this by phone, call the number on the back of your American Express card and ask to speak with someone about adding a beneficiary.

American Express does not charge a fee to name or change a beneficiary. You can update your choice at any time, and you can name more than one person if you want the money split between them.

Key Takeaways

  • You can add a beneficiary online through your American Express account or by calling the customer service number on your card.
  • You will need the beneficiary's full name, date of birth, Social Security number, and your relationship to them.
  • American Express does not charge a fee to name, change, or remove a beneficiary.
  • If you name more than one beneficiary, you can specify what percentage of the account each person receives, or let them split it equally.
  • Your beneficiary designation overrides what your will says, so update it if your circumstances change.

What information you need before you start

Gather the details for each person you want to name before you log in or call. For each beneficiary, you will need their full legal name (the name on their Social Security card or government ID), their date of birth, and their Social Security number. You will also need to tell American Express how you are related to them — for example, spouse, child, parent, or friend.

If you are naming more than one beneficiary, decide ahead of time how you want the money divided. You can say each person gets an equal share, or you can assign a specific percentage to each one. For example, you might say 60 percent to your spouse and 40 percent to your child. American Express will ask you to confirm these percentages when you add them.

Adding a beneficiary online

Log into your American Express account on their website or mobile app. Go to your savings account and look for account settings or account details. The exact location varies depending on which version of the site or app you are using, but there is usually a link that says "Beneficiaries," "Designate Beneficiary," or "Manage Beneficiaries."

Click that link and select the option to add a new beneficiary. Enter the person's full name, date of birth, and Social Security number. Tell American Express your relationship to them and what percentage of the account they should receive. Review the information for accuracy, then confirm. You should see a confirmation message on screen, and American Express will also send you an email confirming the change.

If you cannot find the beneficiary section in your account, or if the option does not appear, call American Express customer service instead. Some account types or older accounts may require a phone call to add a beneficiary.

Adding a beneficiary by phone

Call the customer service number on the back of your American Express card. Tell the representative that you want to add a beneficiary to your savings account. They will ask you the same questions as the online form: the beneficiary's full name, date of birth, Social Security number, your relationship to them, and what percentage of the account they should receive.

The representative will read back the information to confirm it is correct before saving it. Ask them to email or mail you a confirmation of the change. This gives you a record in case there is ever a question later about who you named.

The phone call usually takes 10 to 15 minutes. You do not need to schedule an appointment — just call during business hours and wait for the next available representative.

What happens if you name multiple beneficiaries

You can name as many beneficiaries as you want. When you add more than one, you must tell American Express what percentage of the account each person receives. The percentages must add up to 100 percent.

For example, you might name your spouse as 50 percent beneficiary and your two adult children as 25 percent each. When you pass away, the account will be divided according to those percentages. If you do not specify percentages, American Express will usually split the account equally among all the beneficiaries you named.

You can change the percentages at any time by logging back into your account or calling customer service again. This is useful if your family situation changes — for example, if you have another child or if you want to adjust how much each person receives.

How beneficiary designation differs from your will

A beneficiary designation on your bank account is separate from what your will says. If your will leaves your money to one person but your American Express beneficiary form names someone else, the beneficiary designation wins. The money goes to whoever you named on the account, not to whoever your will says should get it.

This is why it is important to keep your beneficiary designation up to date. If you get married, divorced, or have children, update your beneficiary form to match your wishes. If you do not name anyone, the money in your account becomes part of your estate and will be distributed according to your will or your state's laws.

You can remove a beneficiary at any time by logging into your account or calling American Express. Just select the beneficiary you want to remove and choose the delete or remove option. There is no fee and no waiting period.

What to do if you need to change or remove a beneficiary

Log into your American Express account and go back to the beneficiary section. You will see a list of everyone you have named. Click on the person you want to change or remove. You can edit their information, change their percentage, or delete them entirely. Save your changes and you will get a confirmation email.

If you are making changes by phone, tell the representative which beneficiary you want to modify. They will walk you through the process and confirm the change before hanging up. Ask for a confirmation email or letter so you have a record.

There is no limit to how many times you can change your beneficiary. Some people update it every few years to make sure it still matches their situation. Others change it only when something major happens, like a marriage or the birth of a child.

Frequently Asked Questions

What if I do not name a beneficiary?

If you do not name a beneficiary, the money in your account will go to your estate when you pass away. Your estate is then distributed according to your will, or if you do not have a will, according to your state's laws. This process usually takes longer than paying a named beneficiary directly.

Can I name someone who is not a family member?

Yes. You can name a friend, a business partner, a caregiver, or anyone else you choose. American Express only asks for their name, date of birth, and Social Security number. You do not have to be related to someone to name them as a beneficiary.

Do I need to tell the beneficiary I named them?

You do not have to, but it is a good idea. If the person does not know they are a beneficiary, they may not know to contact American Express after you pass away. Many people tell their beneficiaries where they bank and keep a copy of the beneficiary form in a safe place so their family can find it.

What if my beneficiary passes away before I do?

The money will not automatically go to anyone else. You will need to update your beneficiary form to name someone new. If you do not update it and your named beneficiary has already passed away, the money will go to your estate instead. Check your beneficiaries every few years to make sure they are still living.

Can American Express change my beneficiary without my permission?

No. Only you can change your beneficiary designation. American Express will not make changes based on a phone call or email from someone else, even if they claim to be a family member. You must log into your account or call and verify your identity.