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I got a letter through the mail from American Express offering me a sweet 1.3% interest rate with an FDIC-insured savings account. I currently have a business savings account with a princely 0.35% rate which is apparently the best Wells Fargo offers, and a personal account that seems to pay even less than that.

Is there anything wrong with the Amex account? Or is it an actual good deal? Details here:

http://personalsavings.americanexpress.com/savings-product.html?inav=ps_HYS

I want to have access to the funds ASAP, so CDs or anything more complex (or anything not FDIC-insured) is out.

Thanks!

Chris W. Rea
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Colen
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1 Answers1

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All interest rates are in the toilet so 1.3% isn't bad considering.

There don't appear to be any show-stopper restrictions from my cursory look at the FAQ.

mbhunter
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