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Accounts offered by American Express Bank, FSB. Your deposits are insured to at least $250,000.

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Manage Your Online Savings Account

Account Management and Policies

Online Account Access

Your Personal Savings account comes with convenient online account access. Once you setup online access, you’ll be able to access all of your Personal Savings accounts, view statements, setup customized alerts, and make deposits and withdrawals electronically. Forget your user name or password? No problem. You can easily reset it online.

If you have not already enrolled in online banking, you should do so today.

How to set up online banking

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Account Number

You can find your account number on your original Personal Savings welcome letter or online. To find it online, log in to your Personal Savings account and click the Show Account Numbers on the summary of all your accounts or click the word Show displayed next to the last 4 digits of your account on the individual account detail pages.

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Routing Number

The American Express Bank, FSB routing number is 124085066

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Statements

We send monthly statements for CD accounts and High-Yield Savings accounts. You can better protect your privacy and help the environment by choosing to receive electronic statements either during the online account setup process or at any later time. To update your statement delivery method, login to you account, click the My Profile tab, then click on My Information. We will mail paper statements to you if you do not request electronic statements.

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Statements

CD accounts and High-Yield Savings accounts are issued statements on a monthly basis. You can choose to view your statement online or receive a statement by mail. The choice is yours.

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Funds Availability

You start earning interest on the business day we receive your deposit. Funds from check deposits to your account will generally be available for withdrawal on the eleventh business day after we receive the deposit.

Funds from electronic deposits to your account that you have initiated through us (for example, transfers from your linked external bank account to your High-Yield Savings account) will generally be available for withdrawal on the sixth business day after the deposit is initiated. Funds from electronic deposits to your account that you have initiated through another channel other than us (for example, direct deposits to your High-Yield Savings Account) will generally be available for withdrawal on the business day we receive the deposit.

Withdrawals may not exceed the available funds in your account. Deposits and withdrawals are subject to our right to refuse deposits or withdrawal requests.

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Transaction Limitations: High-Yield Savings Accounts

You may make up to six preauthorized, automatic, telephone or online transfers or withdrawals from a High-Yield Savings account during any monthly statement cycle. We may refuse any withdrawal request that is greater than the frequency permitted or which is for an amount greater than any withdrawal limitations.

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Transaction Limitations and Early Withdrawal Penalty: Certificate of Deposit Accounts

You may not make additional deposits into a Certificate of Deposit account before maturity. You may withdraw all of the principal from a Certificate of Deposit account before maturity (but you may not make a partial withdrawal of principal). An early withdrawal of principal may be subject to a penalty. You can withdraw interest accrued and credited to your Certificate of Deposit account before maturity at any time without penalty. A withdrawal of interest before maturity will reduce your earnings.

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CD Maturity

You will be notified by mail and/or by email 10 days in advance of your CD maturity date. Your CD will automatically renew on the maturity date, unless we are no longer offering a CD with the same term as your maturing CD. To prevent automatic renewal, you must contact us before the maturity date or within 10 calendar days after the maturity date (the grace period).

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Early Withdrawal Penalty for CDs

If you make an early withdrawal of your principal balance or if the CD account is closed for any other reason before the maturity date, a penalty may be assessed on your account. Please see the Deposit Account Agreement for full account terms and conditions.

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Beneficiaries

We offer Payable on Death (POD) accounts, which let you designate that funds in your Personal Savings account be payable after your death (and after the death of any joint owner(s) of the account) to one or more surviving individual beneficiaries without having to set up a trust. Important note: Certain state law restrictions apply to POD accounts. Please consult an attorney or a qualified estate planning professional before designating your account as a POD account. Subject to applicable law and the Deposit Account Agreement, you may name up to six (6) individuals as payable on death beneficiaries, and the funds in the POD account would not be governed by your will or inherited by your heirs. To create a POD account, you will have to create a single or joint account and add beneficiaries by completing our Beneficiary Designation Form. POD beneficiaries must be individuals, not trusts.
Download the Beneficiary Designation Form >

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Beneficiaries

Personal Savings does not offer trust accounts. However, we offer Payable on Death (POD) accounts, which let you designate that funds in your Personal Savings account be payable after your death (and after the death of any joint owner(s) of the account) to one or more surviving individual beneficiaries without having to set up a trust. Beneficiaries on POD accounts must be individuals and cannot be setup in the names of trusts. Certain state law restrictions apply to POD accounts. Please consult an attorney or a qualified estate planning professional before designating your account as a POD account. You may name up to six individuals as payable on death beneficiaries, and the funds on the POD account would not be governed by your will or inherited by your heir.

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Backup Withholding

American Express Bank, FSB, is required by law to withhold and remit to the IRS a specified percentage (28%) of interest paid to your account under certain conditions. To ensure accurate reporting on Form 1099-INT and avoid potential backup withholding, you should verify that your correct legal name and taxpayer identification number (“TIN”) are on file with American Express Bank, FSB by completing and signing the Request for Taxpayer Identification Number and Certification (“Substitute Form W-9”) contained in the application. Your TIN may be in one of the following forms: (a) your Social Security Number (“SSN”) if the account is in your name and you are either a U.S. citizen, permanent resident, or otherwise eligible to receive a SSN from the Social Security Administration; or (b) an Individual Taxpayer Identification Number (“ITIN”) if you are not eligible to receive a SSN from the Social Security Administration.

Accounts opened over the phone will be subject to backup withholding until American Express Bank, FSB receives a completed and signed New Account Form, which includes the Request for Taxpayer Identification Number and Certification (Substitute Form W-9) mentioned above.

Payments you receive will be subject to backup withholding if:

  1. You do not furnish your TIN to the requester,
  2. You do not certify your TIN when required,
  3. In certain instances, the IRS tells American Express Bank, FSB that you furnished an incorrect TIN,
  4. The IRS tells you that you are subject to backup withholding because you did not report all your interest and dividends on your tax return (for reportable interest and dividends only), or
  5. You do not certify to American Express Bank, FSB that you are not subject to backup withholding under 4 above.

More info about the Substitute Form W-9

Download the New Account Form (Substitute Form W-9) for High-Yield Savings

Download the CD New Account Form (Substitute Form W-9) for Certificate of Deposit

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Backup Withholding

American Express Bank, FSB, is required by law to withhold and remit to the IRS a specified percentage (28%) of interest paid to your account under certain conditions. To ensure accurate reporting on Form 1099-INT and avoid potential backup withholding, you should verify that your correct legal name and taxpayer identification number (“TIN”) are on file with American Express Bank, FSB by completing and signing the Request for Taxpayer Identification Number and Certification (“Substitute Form W-9”) contained in the application.

Accounts opened over the phone will be subject to backup withholding until American Express Bank, FSB receives a completed and signed New Account Form, which includes the Request for Taxpayer Identification Number and Certification (Substitute Form W-9) mentioned above. Substitute Form W-9 will be included in your Welcome kit upon Opening.

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FDIC Insurance for Joint High-Yield Savings Accounts

If you are a joint owner of a High-Yield Savings account, certain FDIC regulations require that we have each joint account owner’s signature on file so that your account is eligible for insurance up to the maximum applicable limit provided by the FDIC for qualifying joint accounts. Please take a moment and have each joint account owner sign the Joint Account Signature Form.

Joint Account Signature Form

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FDIC Insurance for Joint High-Yield Savings Accounts

If you are a joint owner of a High-Yield Savings account, certain FDIC regulations require that we have each joint account owner’s signature on file so that your account is eligible for insurance up to the maximum applicable limit provided by the FDIC for qualifying joint accounts. To be eligible for the maximum applicable limit, please have each join account owner sign the Joint Account Signature Form included in the Welcome Kit.

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Closing Your Account

To close your account, please complete the Account Closure form and fax or mail it to us. Alternatively, you may call us at 1-800-446-6307 to close your account. If you are closing a CD account prior to the maturity date, we ask you to complete and send in the Account Closure form.
Download the Account Closure Form >

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Closing Your Account

To close your account, please call us at 1.800.446.6307.

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>For more information on High Yield Savings or Certificate of Deposit Account Policies, please see the Deposit Account Agreement and Truth-in-Savings disclosures.

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Accounts offered by American Express Bank, FSB. Each depositor is insured to at least $250,000. Learn More from FDIC.gov

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* The Annual Percentage Yield (APY) as advertised is accurate as of November 08, 2012. Rates are subject to change at any time without notice before or after a High-Yield Savings account is opened. For CD accounts, rates are subject to change at any time without notice before the account is opened; your rate will be fixed on the business day we receive your complete application, provided we receive your deposit within 30 days after your application is approved. After a CD is opened, additional deposits to the account are not permitted; early CD withdrawals may be subject to penalties and will reduce account earnings. Please see the Deposit Account Agreement for additional terms and conditions and Truth-in-Savings disclosures. Accounts offered by American Express Bank, FSB. Member FDIC.