The fastest way to fund your account

You can transfer money into your American Express High Yield Savings Account in three main ways: from another bank account using ACH transfer, by wire transfer, or by mailing a check. Most people use ACH transfer because it is free and takes one to three business days. Wire transfer is faster — usually the same day — but costs money. Checks take the longest, around five to seven business days, but are free.

American Express does not accept direct deposits into the savings account itself, so you cannot route your paycheck there automatically. If you want your paycheck to go into an American Express account, you would need to deposit it into their checking account first, then transfer it to savings.

Key Takeaways

  • ACH transfer from another bank is free and takes one to three business days, making it the most common way to fund the account.
  • You will need your American Express account number and routing number to receive money from another bank.
  • Wire transfers arrive the same day but cost between $10 and $25 depending on whether you initiate from your other bank or from American Express.
  • You can transfer money from your American Express checking account to your savings account when ready through their website or app.

Setting up an ACH transfer from another bank

Log into your other bank's website or app and look for the option to send money to another bank. This is usually called "transfer funds," "send money," or "pay bills." You will need to add American Express as a receiving bank first.

When you add American Express, you will enter the account number for your savings account and the routing number for American Express Bank. The routing number is 121000248. Your account number appears on your American Express statements and in your online account dashboard. After you enter these details, your other bank will verify the connection — this usually takes one to two business days before you can send money.

Once the connection is verified, you can transfer as much as you want, as often as you want. The money will arrive in one to three business days. Some banks allow you to schedule transfers in advance, so you can set up recurring transfers if you want to move money on a regular schedule.

Transferring money from American Express checking to savings

If you have both an American Express checking account and a savings account, you can move money between them when ready through your American Express dashboard. Log in to your account online or through the mobile app, select "transfer," and choose the checking account as the source and the savings account as the destination.

This transfer happens right away — you will see the money in your savings account within minutes. There is no fee and no waiting period. This is the fastest option if you already have money in an American Express checking account.

Wire transfers for faster funding

A wire transfer moves money the same business day, usually within a few hours. You can initiate a wire from your other bank, or you can contact American Express and ask them to receive a wire on your behalf.

If you initiate the wire from your other bank, you will need the American Express routing number (121000248) and your account number. Your other bank will charge you a wire fee, typically $15 to $25. If you ask American Express to receive the wire, they may also charge a fee — contact them first to ask about their incoming wire fees.

Wire transfers are useful when you need money to arrive the same day, but the fees make them more expensive than ACH transfer for routine deposits.

Mailing a check

You can mail a check to American Express to deposit into your savings account. Write the check to American Express Bank, and include a note with your account number so they know which account to credit.

Mail the check to the address listed in your account statements or on the American Express website. Processing takes five to seven business days after American Express receives it, so plan ahead if you need the money by a certain date. This method is free but slowest.

What happens if you send money to the wrong account number

If you accidentally transfer money to the wrong account number, contact American Express right away. They can sometimes recover the money if it went to another American Express customer, but if it went to a different bank or a fraudulent account, recovery is much harder.

Double-check your account number and routing number before you confirm any transfer. Your account number is unique to you and appears on your statements. The routing number for American Express Bank is always 121000248.

Frequently Asked Questions

Can I set up automatic transfers from my other bank?

Yes. Once your other bank verifies the connection to American Express, most banks let you schedule recurring transfers on a weekly, biweekly, or monthly basis. Set this up through your other bank's website — American Express does not initiate the transfer on their end.

Is there a limit to how much I can transfer in?

American Express does not publish a single transfer limit. Your other bank may have daily or monthly limits on outgoing transfers, so check with them. If you are transferring a very large amount, contact American Express first to make sure there are no restrictions on your account.

Why is my transfer taking longer than three days?

Delays usually happen over weekends or holidays — banks only process ACH transfers on business days. If you initiated the transfer on a Friday, it may not arrive until Tuesday. If it has been more than three business days, contact your other bank to check the status.

Do I need to verify my identity before I can transfer money in?

You already verified your identity when you opened the American Express account. When you add American Express as a receiving bank at your other institution, that bank may ask you to verify a small deposit they send first — this is normal security practice and takes one to two days.

Can I transfer money from a credit card to my savings account?

No. You can only transfer from a bank account or by mailing a check. Credit card companies do not allow transfers to savings accounts at other banks. If you want to move money from an American Express credit card, you would need to pay off the card first, then transfer the refund once it appears in a checking account.