You can close an American Express savings account by calling their customer service line or using your online account
The fastest way to close an American Express savings account is to call their customer service team directly. You will reach them at the phone number on the back of your card or in your online account. Have your account number ready when you call — they will ask for it to pull up your account and confirm your identity.
If you prefer not to call, you may also be able to close your account through your online American Express account. Log in, look for account settings or account management options, and search for a "close account" or "close savings account" link. Not all account types offer this option online, so if you cannot find it, calling is your next step.
Before you close the account, make sure any remaining balance in the savings account has been moved to another bank account you own. American Express will not close the account until the balance is zero or will transfer any remaining funds to the address on file — a process that can take several weeks.
Key Takeaways
- Call American Express customer service at the number on your card or in your online account to request closure.
- You will need your account number and may be asked to verify your identity before the account closes.
- Withdraw or transfer any remaining balance before closing, or American Express will mail any leftover funds to your address on file.
- The account closure is usually final within one to two business days after you request it.
- Keep any statements or records you need before closing, since you will lose online access to account history once the account is closed.
What happens to your money when you close
If your savings account has money in it when you request closure, you have two options. You can transfer the balance to another bank account before you call to close — this is the fastest and safest route. You straightforward log into your American Express account, find the transfer option, and move the funds to a checking or savings account at another bank that you own.
If you do not transfer the balance yourself, American Express will mail a check to the address they have on file for you. This process typically takes two to four weeks, and you will not receive a notice telling you the check is coming. Write down the balance before you close the account so you know what amount to expect.
Steps to close your account by phone
When you call American Express, have your account number, Social Security number, and the phone number associated with your account ready. The representative will ask you to confirm these details before making any changes.
Tell the representative you want to close your savings account. They may ask why you are closing it — this is optional information, and you do not have to explain. They will confirm that your balance is zero or ask what you want to do with any remaining funds. Once you confirm, they will process the closure request.
Ask the representative for a confirmation number for the closure request. Write this down along with the date and time of your call. This gives you a record in case you need to follow up later.
What to do before you close
read or save any statements you want to keep. Once your account is closed, you will no longer be able to log in and view your account history online. American Express keeps records for their own purposes, but you will not have access to them through your account.
If you have set up any automatic transfers or deposits to this savings account, cancel those before you close. Check your employer's payroll system if you have direct deposit set up, and update any other accounts that send money to this American Express account.
Make sure you do not have any pending transactions. If you recently made a transfer or payment that has not cleared yet, wait for it to post before closing the account. A pending transaction can sometimes prevent closure or cause confusion about your final balance.
If you want to reopen the account later
Once an American Express savings account is closed, you cannot straightforward reopen it. If you change your mind, you will need to open a new account from scratch. This means going through the process process again, which includes identity verification and a review of your banking history.
If you are thinking about closing because of a problem with the account — such as low interest rates, fees, or poor customer service — consider calling first to ask about your options. American Express may be able to address your concern without requiring you to close.
Frequently Asked Questions
Will closing my savings account affect my American Express credit card?
No. Your savings account and credit card are separate products. Closing the savings account will not change your credit card status, credit limit, or credit score. You can keep your credit card open while closing only the savings account.
How long does it take for the account to actually close?
The closure is usually final within one to two business days after you request it. You will lose online access to the account when ready or within a few hours. If you had a pending balance, the check will be mailed separately and may take two to four weeks to arrive.
What if I have a negative balance or owe money?
Contact American Express when ready. A negative balance means you owe them money, and they will not close the account until you pay what you owe. Call the number on your statement to arrange payment before requesting closure.
Can I close the account online if I opened it online?
Some accounts can be closed through your online dashboard, but not all. Look for account settings or account management options in your login. If you do not see a close account option, calling is your only route.
Do I need to close the account, or can I just stop using it?
You can stop using it without formally closing it, but closing is cleaner. An inactive account still appears on your banking record and takes up space in your account list. Closing removes it entirely and prevents any surprise fees if American Express adds them to inactive accounts in the future.