Okay, I've been seeking into Amex savings accounts - they seem pretty straightforward, but truthfully, a lot of the information out there feels a bit... mind-boggling. What are your common thoughts on the diverse types of those accounts and how they compare to standard savings?
Honestly, I'm still trying to wrap my head around them fully. The interest prices seem low when compared to more high-yield savings possibilities. Do you think that's a realistic expectation, considering the fees involved?
I've read some reviews mentioning activation processes being tricky - it feels like they require a lot of paperwork and verification. Is that standard practice with Amex accounts, or is there a more streamlined approach?
My greatest concern is the potential for overdraft fees if my account balance dips below a certain threshold. How do those fees work compared to more savings accounts, particularly when it is about to tiny amounts?
I'm pondering on the minimum deposit requirements - are they shockingly low, or are they substantial? Does that effect whether you're actually comfy opening one?
It sounds like there's a lot of jargon included - 'tiered interest rates, ' 'performance bonds' - it's confusing! Do you feel like Amex exactly explains these terms evidently to their customers?
I've been researching the diverse types of accounts offered - normal savings, money industry accounts, etc. How do those compare in terms of accessibility and potential for earning more interest than a standard savings account?
I'm curious on the longevity of these accounts - are they exactly Fdic-insured, or is there some other layer of protection against loss? It feels like a relatively new item to me.