American Express vs Chime
High-Yield Savings Accounts Comparison

Last Updated: June 20, 2025

Summary of American Express vs. Chime

As of June 20, 2025 American Express offers an APY of 3.60% for its High Yield Savings Account account, compared to Chime's 3.75% APY for its Chime Savings Account account.

Chime yields $15 more than American Express on a $10,000 balance after one year. American Express pays $360, while Chime pays $375 - an APY advantage for Chime.

American Express

Strengths

  • American Express offers a competitive APY of 3.60% with no direct deposit requirement.
  • No maintenance fees or minimum balance requirements for the High Yield Savings Account.
  • American Express has a high App Store rating of 4.9.

Potential Drawbacks

  • American Express has an F rating from BBB and is not accredited.
  • The Google Play rating for American Express is lower at 3.8.
  • There are no physical branches for American Express.

Chime

Strengths

  • Chime offers a higher APY of 3.75%, unchanged in 30 days.
  • Chime has a strong Google Play rating of 4.7.
  • Chime's BBB rating is B-, indicating better trustworthiness.

Potential Drawbacks

  • Chime requires a direct deposit of $200 to earn the 3.75% APY.
  • Chime's APY drops to 1.25% without qualifying direct deposit.
  • Chime has a slightly lower App Store rating of 4.8.
Summary: American Express offers a solid 3.60% APY with no direct deposit requirement but has an F BBB rating. In contrast, Chime provides a higher 3.75% APY, albeit with a direct deposit requirement, and a better BBB rating of B-. While both banks operate online-only, Chime's Google Play rating is higher, while American Express excels in the App Store.

Compare American Express' vs Chime's Savings Accounts

American ExpressChime
ProductHigh Yield Savings AccountvsChime Savings Account
APY
3.60% (as of 6/20/2025)1.25% - 3.75% (as of 6/20/2025)
Bundled Account
NoYes
FDIC-insured
YesYes
Online OnlyYesYes
Compound Frequency
DailyDaily
Minimum Deposit$0$0
Minimum Balance for APY$0$0.01
Maintenance Fee$0$0
Direct Deposit Required
NoYes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days
NoteN/AChime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.75% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.25%.
Visit BankHigh Yield Savings AccountChime Savings Account
App Store Rating4.9/54.8/5
Google Play Rating3.8/54.7/5
BBB RatingFB-

Comparative Historical APY Insights (Last 5 Months)

American ExpressChime
ProductHigh Yield Savings AccountvsChime Savings Account
Latest APY3.60 %3.75 %
TrendSidewaysRising
Slope (bps/mo)-4.353.6
Rate Changes / Mo0.420.21
Days Since Last Change4482
High (-5 m)3.80 %3.75 %
Low (-5 m)3.60 %2.00 %
Draw-down from High-5.3 %0.0 %
Volatility (CV)0.0180.286
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 5 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-5 m)
Highest APY in the last 142 days.
Low (-5 m)
Lowest APY in the last 142 days.
Draw-down from High
How far today sits below the 5-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

Calculate Savings Growth for American Express vs Chime

All calculations are based on APY.

American Express

APY: 3.60%

Total savings breakdown:

  • Interest earned: $36 (3.47%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.53%)

Your total balance

$1,036.00

Effective APY: 3.60% (based on your deposit and contributions)

Total balance: $1,036

Earnings: $36

Bank Details

Chime

APY: 3.75%

Total savings breakdown:

  • Interest earned: $37.5 (3.61%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.39%)

Your total balance

$1,037.50

Effective APY: 3.75% (based on your deposit and contributions)

Total balance: $1,037.5

Earnings: $37.5

Bank Details

After 1 year American Express would earn you $1.5 less than Chime.

More Comparisons

Compare American Express' APY of 3.60% with other banks
Compare Chime's APY of 3.75% with other banks