American Express vs. BMO Alto
American Express edges out BMO Alto slightly at 3.20% vs 3.15% APY. On a $10,000 balance, the difference is just $5 per year—so other factors may matter more.
The Bottom Line
The American Express and BMO Alto savings accounts are very similar. Choose American Express if 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 Apr 7, 2026 | BMO AltoSavings Account Apr 7, 2026 |
|---|---|---|
| APY | 3.20% | 3.15% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$158 $10,000+$315 $25,000+$788 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android 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 3.20%, making it the winner in this comparison. This account is online-only, requires no minimum deposit or balance, and has no maintenance fees. In contrast, BMO Alto provides a Savings Account with a slightly lower APY of 3.15%, also with no minimum requirements and maintenance fees. Both banks do not require direct deposit, making them accessible options for savers.
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 rated iOS app (4.9 vs 0.0)
- ✓Higher rated Android app (4.9 vs 0.0)
- ✓Fast transfers via Zelle®
Why BMO Alto?
No distinct advantages found vs American Express.
— Key Feature Differences —
Best Mobile App Experience
American ExpressAmerican Express offers an iOS app rated 4.9 (vs. 0.0) and Android app rated 4.9 (vs. 0.0)
Shared Benefits
Over a 1-year period, American Express's High Yield Savings Account pays $5 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 $5 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+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
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 | 3.20% Verified: 4/7/2026 ↘︎ 0.10%90d Change | 3.15% Verified: 4/7/2026 ↘︎ 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 | 3.20% | 3.15% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.8 | -4.6 |
Days Since Change | 20 | 49 |
12-Month High | 3.70% | 3.70% |
12-Month Low | 3.20% | 3.15% |
Adjustments / Mo | 0.41 | 0.33 |
Volatility Score | 0.041 | 0.051 |
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 3.20% 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 Barclays | 3.85% | $0 |
| BMO Alto vs Capital One | 3.20% | $0 |
| BMO Alto vs Chime | 3.00% | $0 |
| BMO Alto vs CIT Bank | 3.75% | $100 |
| 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 | 4.00% | $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 | 4.20% | $0 |