American Express vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | American ExpressHigh Yield Savings Account Jan 7, 2026 | OpenbankHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 3.30% | 4.20% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppZelle® Supported | FDIC InsuredLow Minimums |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing American Express vs. Openbank
As of American Express offers an APY of 3.30% for its High Yield Savings Account, with a minimum balance of $0, compared to Openbank's 4.20% APY for its High-Yield Savings Account, with a minimum balance of $0.
Openbank pays $90 more than American Express on a $10,000 balance after one year. American Express pays $330, while Openbank pays $420 - an APY advantage for Openbank.
Why American Express?
- ✓Higher rated iOS app (4.9 vs 3.1)
- ✓Fast transfers via Zelle®
Why Openbank?
- ✓Higher potential APY (4.20% vs 3.30%) on all balances
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $330/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $825/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $90 more interest on a $10,000 balance than American Express's High Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, making it the winner in this comparison. This account does not require a direct deposit and has a minimum deposit of $500, with no maintenance fees. In contrast, American Express provides a High Yield Savings Account with an APY of 3.30% and no minimum deposit or maintenance fees, but it falls short in yield. Both accounts are online-only and FDIC insured, appealing to those looking for digital banking solutions.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
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American Express vs. Openbank Savings Calculator
You earn $90 more with Openbank than American Express 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
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | American Express | Openbank |
|---|---|---|
| APY | 3.30% Verified: 1/7/2026 ↘︎ 0.20%90d Change | 4.20% Verified: 1/7/2026 Stable (90d) |
| Product Name | High Yield Savings Account | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android3.6 | iOS3.1 Android2.9 |
| Zelle® Support | Available Requires Amex Rewards Checking; not available for standalone HYSA. | Not Supported |
| BBB Rating | F | Not Rated |
| Next Steps | Visit SiteVerify at American Express Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | American Express | Openbank |
|---|---|---|
| High Yield Savings Account | High-Yield Savings Account | |
Current APY | 3.30% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.2 | -3.0 |
Days Since Change | 8 | 169 |
10-Month High | 3.70% | 4.75% |
10-Month Low | 3.30% | 4.20% |
Adjustments / Mo | 0.38 | 0.29 |
Volatility Score | 0.031 | 0.027 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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