Deliver Your News to the World’s Best Online Banks of 2022-2023 List Highlights American Express® Rewards Checking Account

Photo: Courtesy of American Express
Photo: Courtesy of American Express

American Express has been recognized by as one of the Best Online Banks of 2022-2023 for the company’s digital American Express® Rewards Checking account.

American Express created Rewards Checking as an account that offers value customers expect with exceptional benefits including rewards on debit card purchases and a high annual percentage yield (APY). To date, more than half of our new Amex Rewards Checking Members are millennial and Gen Z Members.

“We created Amex Rewards Checking to give Members more from their checking account plus all the benefits that are important to them,” said Corey Timlin, Head of Consumer Deposits at American Express. "This award, along with the steady growth of our customer base since launch earlier this year, gives us confidence that we are doing just that.”

Backed by a seamless, digital experience and a contactless* enabled debit card, American Express® Rewards Checking offers U.S. Consumer Card Members** unique features and benefits:

  • A high-yield 0.60% APY that is 15X higher than the national rate, including retail banks1
  • The ability to earn Membership Rewards® points on eligible Debit Card purchases2
  • Purchase Protection3 on American Express® Debit Card covered purchases for up to 90 days from the covered purchase date if item is stolen or accidently damaged. The coverage is limited up to $1,000 per occurrence, up to $50,000 per account per calendar year.
  • No monthly account fees or minimum balance fees4
  • Fee-free ATM withdrawals with their Debit Card at 37,000 MoneyPass® ATM locations nationwide5

Since launching earlier this year, the company has transformed Card Member feedback into enhancements, including adding features like the ability to transfer funds to an Amex Savings account and Membership Rewards® points transaction-level details so Members can see how many points they’ve earned when making debit card purchases.

[p"We’ve taken Member feedback into account every step of the way and have a steady roadmap of new features that will roll out next year and beyond,” added Timlin.[/p]’s criteria for inclusion on its annual list includes national banks, online banks and credit unions that offer flagship accounts for everyday customers and considers branch size, ATM network, online customer reviews and third-party rankings.

To view the full list on, visit here.


*Contactless payments are accepted at participating merchants only.

**Currently available only to Consumer Card Members who have had a Card account for 3 months or longer. American Express® Business Checking customers are not eligible at this time.

1The 0.60% Annual Percentage Yield (APY) as advertised is accurate as of 11/16/2022. APY is subject to change at any time without notice before and after a Rewards Checking account is opened. Please see the Rewards Checking Account Terms for additional terms and Truth-in-Savings disclosures. Transaction fees may reduce APY. APY rate compared to national deposit rate from the FDIC’s published Monthly Rate Information for Interest Checking deposit products. FDIC national rate is calculated as the simple average of interest rates paid by US FDIC-insured depository institutions and branches for which data is available. This national deposit rate reflects APY paid on a variety of interest-bearing checking accounts with terms, services and limitations that may differ.  See the FDIC Website for details.

2Currently, American Express® Rewards Checking Members can only redeem Membership Rewards points for a deposit into their checking account. However, if they also have a Membership Rewards Account in connection with a Card Account, their Rewards Accounts can be linked and they will have access to all redemption options offered with that Card Account.

3Purchase Protection is underwritten by AMEX Assurance Company. Subject to additional terms, conditions and exclusions. For full Terms and Conditions, see If You have any questions about a specific item, please call Us at 1-800-228-6855, if international, collect at 1-303-273-6498.

4 No minimum balance is required to open an account or earn interest and no minimum balance fees are charged for Rewards Checking Accounts.  Inactive and/or unfunded accounts may be subject to closure.  Please see the Rewards Checking Account Terms for further details.

5 At MoneyPass® locations in the U.S., you can withdraw cash and get account information at no charge. Access to ATMs outside of the MoneyPass® network are subject to fees by the ATM owner and/or network. ATM withdrawal limits apply. American Express applies foreign exchange fees to withdrawals in foreign currencies. Visit for Terms and Conditions and to find participating ATMs in the U.S.

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