American Express vs. BMO Alto
Comparing American Express and BMO Alto for high-yield savings: American Express's High Yield Savings Account pays 3.30% APY while BMO Alto's Savings Account pays 3.15% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? American Express pays $15 more than BMO Alto annually ($330 vs $315).
Choose American Express if getting the best rate matters most, you're an iPhone user (no iOS app for BMO Alto), you're an Android user (no Android app for BMO Alto), or you want Zelle for quick transfers. Choose BMO Alto if BBB rating matters to you.
| Metric | American ExpressHigh Yield Savings Account Feb 21, 2026 | BMO AltoSavings Account Feb 21, 2026 |
|---|---|---|
| APY | 3.30% | 3.15% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$158 $10,000+$315 $25,000+$788 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing American Express vs. BMO Alto
Executive Summary
American Express offers a High Yield Savings Account with a competitive APY of 3.30%, providing better returns compared to BMO Alto's Savings Account, which has an APY of 3.15%. Both accounts require no minimum deposit or balance and have no maintenance fees, making them accessible options for savers. However, American Express's account outperforms in terms of interest earned on larger deposits, making it the preferred choice for those looking to maximize their savings. Both products are online-only, ensuring easy access for users.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why American Express?
- ✓Higher potential APY (3.30% vs 3.15%) on all balances
- ✓Higher rated iOS app (4.9 vs 0.0)
- ✓Fast transfers via Zelle®
Why BMO Alto?
No distinct advantages found vs American Express.
— Key Feature Differences —
Better Returns at $10,000
American ExpressAmerican Express's High Yield Savings Account earns more on smaller deposits (approx. $330 vs $315/yr).
Better Returns at $25,000
American ExpressAmerican Express's High Yield Savings Account pulls ahead with larger amounts (approx. $825 vs $788/yr).
Shared Benefits
Over a 1-year period, American Express's High Yield Savings Account pays $15 more interest on a $10,000 balance than BMO Alto's Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
American Express vs. BMO Alto Savings Calculator
You earn $15 more with American Express than BMO Alto on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
American Express
High Yield Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
BMO Alto
Savings Account
Savings Breakdown
- Interest Earned+$315.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,315.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $314 per year in interest.
Both American Express and BMO Alto dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | American Express | BMO Alto |
|---|---|---|
| APY | 3.30% Verified: 2/21/2026 ↘︎ 0.20%90d Change | 3.15% Verified: 2/21/2026 ↘︎ 0.10%90d Change |
| Product Name | High Yield Savings Account | Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS- Android- | |
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Requires Amex Rewards Checking; not available for standalone HYSA. | Not Supported |
| BBB Rating | F | A+ |
| Next Steps | Visit SiteVerify at American Express Non-sponsored link to official site | Visit SiteVerify at BMO Alto Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | American Express | BMO Alto |
|---|---|---|
| High Yield Savings Account | Savings Account | |
Current APY | 3.30% | 3.15% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.6 | -5.1 |
Days Since Change | 53 | 4 |
12-Month High | 3.70% | 4.00% |
12-Month Low | 3.30% | 3.15% |
Adjustments / Mo | 0.33 | 0.41 |
Volatility Score | 0.038 | 0.058 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare American Express' APY of 3.30% with other banks
Compare BMO Alto's APY of 3.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| BMO Alto vs Ally Bank | 3.20% | $0 |
| BMO Alto vs Axos Bank | 4.21% | $0 |
| BMO Alto vs Bank of America | 0.01% | $100 |
| BMO Alto vs Barclays | 3.85% | $0 |
| BMO Alto vs Capital One | 3.30% | $0 |
| BMO Alto vs Chase Bank | 0.01% | $0 |
| BMO Alto vs Chime | 3.00% | $0 |
| BMO Alto vs CIT Bank | 3.75% | $100 |
| BMO Alto vs Citibank | 3.20% | $0 |
| BMO Alto vs Discover Bank | 3.30% | $0 |
| BMO Alto vs EverBank | 3.90% | $0 |
| BMO Alto vs Marcus by Goldman Sachs | 3.65% | $0 |
| BMO Alto vs Newtek Bank | 4.20% | $0.01 |
| BMO Alto vs Openbank | 4.09% | $500 |
| BMO Alto vs Pibank | 4.60% | $0 |
| BMO Alto vs SoFi Bank | 4.00% | $0 |
| BMO Alto vs Synchrony Bank | 3.50% | $0 |
| BMO Alto vs Varo Bank | 5.00% | $0 |
| BMO Alto vs Wealthfront | 3.95% | $0 |
| BMO Alto vs Wells Fargo | 0.05% | $25 |