American Express vs Chime
High-Yield Savings Accounts Comparison

Last Updated: July 15, 2025

Summary of American Express vs. Chime

As of July 15, 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 associated with the High Yield Savings Account.
  • High App Store rating of 4.9.

Potential Drawbacks

  • American Express has an F BBB rating and is not accredited.
  • Lower Google Play rating at 3.8 compared to Chime.
  • No branch locations available.

Chime

Strengths

  • Chime offers a higher APY of 3.75% for qualifying direct deposits.
  • Better BBB rating of B- compared to American Express.
  • High Google Play rating of 4.7.

Potential Drawbacks

  • Chime requires a direct deposit of $200 to qualify for the 3.75% APY.
  • Lower App Store rating at 4.8 compared to American Express.
  • Minimum balance of $0.01 required for the Chime Savings Account.
Summary: American Express provides a solid APY of 3.60% without direct deposit requirements but has a poor BBB rating. Chime offers a slightly higher APY of 3.75% with a direct deposit requirement and a better BBB rating. However, Chime has a minimum balance requirement and lower App Store rating. Both banks operate online only, with no physical branches.

Compare American Express' vs Chime's Savings Accounts

American ExpressChime
ProductHigh Yield Savings AccountvsChime Savings Account
APY
3.60% (as of 7/15/2025)1.25% - 3.75% (as of 7/15/2025)
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)-3.843.2
Rate Changes / Mo0.360.18
Days Since Last Change69107
High (-5 m)3.80 %3.75 %
Low (-5 m)3.60 %2.00 %
Draw-down from High-5.3 %0.0 %
Volatility (CV)0.0180.268
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 167 days.
Low (-5 m)
Lowest APY in the last 167 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