ABOUT: In this video were reviewing the American Express (Amex High) Yield Savings Account. (HYSA). It provides a 0.6% APY with no monthly minimums or fees, and is FDIC insured like many other HYSA. Not going to lie, this rate is very average when compared to other HYSAs like Synchrony and Ally. Instead, if you are interested in the highest APY I would recommend Affirm or Chime, which offer basically the same product. If you want an even higher rate with a slightly different product, Yotta Savings provides an account that has an expected APY of 1.8%. If you want a very high rate with a very different kind of savings account, you can try out a cryptocurrency interest account like BlockFi or Celsuis Network where you can up to 10.61% on stablecoins like USDC and GUSD. There is one reason to use the Amex HYSA: if you already bank with Amex and want to keep all your accounts in one place.

Affirm HYSA: https://www.affirm.com/savings
Chime HYSA: https://www.chime.com/savings-account/
Yotta Savings Review: https://youtu.be/wXKULfSR65w
BlockFi Review: https://youtu.be/dXwuKke3IN4

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0:00 – Intro
0:52 – Why use an HYSA?
1:39 – Amex HYSA Overview
2:15 – Solid Alternatives
4:42 – The Verdict
5:34 – Outro

#amex #savingsaccounts #highyieldsavingsaccounts

Inspired by Meet Kevin, Ask Sebby, The Credit Shifu, Graham Stephan, and Andrei Jikh

Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!

why you should not have a high yield savings account is because the amount of interest you receive never beats the rate of inflation, so you are guaranteed to lose money with a high yield savings account.

High-yield savings accounts function similarly to traditional savings accounts, except that the annual percentage yield (APY) is greater. The APY on savings accounts averaged 0.05% as of December 2020, according to the Federal Deposit Insurance Corporation. Rates on high-yield savings accounts have taken a hit during the COVID-19 crisis, but still come in higher than those of traditional accounts.

Putting your money in a safe and liquid investment is almost always better, as I explain in the video, low volatility and high volume is your new best friend when it comes to protecting your savings!

Goldman Sachs paid well over $12 million to a female ex-partner who alleged the firm was a toxic workplace for women. Madison Mills and Sridhar Natarajan report.
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