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 Express | Chime | ||
|---|---|---|---|
| Product | High Yield Savings Account | vs | Chime Savings Account |
| APY | 3.60% (as of 6/20/2025) | 1.25% - 3.75% (as of 6/20/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | |
| Note | N/A | Chime® 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 Bank | High Yield Savings Account | Chime Savings Account | |
| App Store Rating | 4.9/5 | 4.8/5 | |
| Google Play Rating | 3.8/5 | 4.7/5 | |
| BBB Rating | F | B- |
Comparative Historical APY Insights (Last 5 Months)
| American Express | Chime | ||
|---|---|---|---|
| Product | High Yield Savings Account | vs | Chime Savings Account |
| Latest APY | 3.60 % | 3.75 % | |
| Trend | Sideways | Rising | |
| Slope (bps/mo) | -4.3 | 53.6 | |
| Rate Changes / Mo | 0.42 | 0.21 | |
| Days Since Last Change | 44 | 82 | |
| High (-5 m) | 3.80 % | 3.75 % | |
| Low (-5 m) | 3.60 % | 2.00 % | |
| Draw-down from High | -5.3 % | 0.0 % | |
| Volatility (CV) | 0.018 | 0.286 |
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 DetailsChime
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 DetailsAfter 1 year American Express would earn you $1.5 less than Chime.
More Comparisons
Compare American Express' APY of 3.60% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| American Express vs Ally Bank | 3.50% | $0 |
| American Express vs Axos Bank | 4.66% | $0 |
| American Express vs Bank of America | 0.01% | $100 |
| American Express vs Barclays | 4.10% | $0 |
| American Express vs Capital One | 3.60% | $0 |
| American Express vs Chase Bank | 0.01% | $0 |
| American Express vs CIT Bank | 4.00% | $100 |
| American Express vs Discover Bank | 3.60% | $0 |
| American Express vs Fitness Bank | 5.00% | $100 |
| American Express vs Marcus by Goldman Sachs | 3.65% | $0 |
| American Express vs SoFi Bank | 3.80% | $0 |
| American Express vs Synchrony Bank | 3.80% | $0 |
| American Express vs Varo Bank | 5.00% | $0 |
Compare Chime's APY of 3.75% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Chime vs Ally Bank | 3.50% | $0 |
| Chime vs Axos Bank | 4.66% | $0 |
| Chime vs Bank of America | 0.01% | $100 |
| Chime vs Barclays | 4.10% | $0 |
| Chime vs Capital One | 3.60% | $0 |
| Chime vs Chase Bank | 0.01% | $0 |
| Chime vs CIT Bank | 4.00% | $100 |
| Chime vs Discover Bank | 3.60% | $0 |
| Chime vs Fitness Bank | 5.00% | $100 |
| Chime vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chime vs SoFi Bank | 3.80% | $0 |
| Chime vs Synchrony Bank | 3.80% | $0 |
| Chime vs Varo Bank | 5.00% | $0 |