American Express vs. Capital One 360: Which Savings Account Is Better?
American Express High Yield Savings vs. Capital One 360 Performance Savings: rates, fees, transfer times, support, branches and which big name savings account fits you.
How we make money: Some links on this page may earn us a commission. That never affects our scores or the order of our picks, which follow our published methodology. Advertiser disclosure
American Express and Capital One pay the same rate right now: 3.20% APY vs. 3.20% at Capital One 360 Performance Savings, at our Oct 26, 2026 check. Both have no minimums, no monthly fee and no monthly rules, so support and access matter more. Pick Amex for 24/7 phone support; pick Capital One if you want branches, Capital One Cafes and checking at the same bank.
These are two of the best known names in online savings. Neither pays the highest rate on our list, but both are simple, fee free and run by very large banks. If you value a familiar name and a polished app over squeezing out the last bit of interest, either is a solid choice. Here is how they differ.
Amex vs. Capital One at a glance
| American Express High Yield Savings | Capital One 360 Performance Savings | |
|---|---|---|
| APY | 3.20% (as of Oct 27, 2026) | 3.20% (as of Oct 27, 2026) |
| Monthly rules | None | None |
| Minimum to open | $0 (fund within 60 days) | $0 |
| Monthly fee | None | None |
| Phone support | 24/7 | 8am to 11pm, 7 days a week |
| Branches | None | Branches and Capital One Cafes |
| ATM card from savings | No | No; move money to checking first |
| App rating | 4.9 App Store, 4.8 Google Play | 4.8 App Store, 4.5 Google Play |
| BankingPicks score | 4.3 / 5 | 4.4 / 5 |
Rates are variable and can change at any time. Each rate shows the date the bank says it applies; we check every figure against the bank’s own website.
Support hours and app ratings checked Sep 28, 2026. Scores follow our published scorecard.
Which one pays more?
Right now, neither: they pay the same rate. Amex pays 3.20% APY and Capital One pays 3.20% APY on every balance, with no tiers. On $10,000 held for a year, that is about $320 at Amex vs. about $320 at Capital One if rates stay the same. Amex raised its rate from 3.10% on Oct 17, 2026, and Capital One raised its rate to match on Oct 26, 2026. Savings rates are variable, so check the table above for the latest figures.
Both pay far more than the FDIC national average savings rate of 0.38% (as of Oct 19, 2026), which would earn about $38 on the same $10,000.
What you give up for the big name
Other accounts pay more. Always.bank High Yield Savings pays 4.10% APY with no monthly rules and no minimum, and Peak Bank Envision pays 4.27% APY. On $25,000, that is about $1,025 a year at Always.bank vs. about $800 at Amex or Capital One. Whether that difference is worth it depends on how much you value the support, app and brand you already know. See our best high yield savings accounts for the full ranking.
Which is easier to use?
American Express is online only, with 24/7 phone support and one of the best rated banking apps we track. Transfers to and from linked banks or Amex Rewards Checking usually take 1 to 2 business days, and same day express transfers are available in many cases. Money you pull in from another bank is available by the fifth business day. There is no ATM card, debit card or checks.
Capital One lets you manage savings online, in its app, by phone or in person at a branch or Capital One Cafe. You cannot use an ATM directly from savings; you move money to checking first. If you also open Capital One 360 Checking, moving money between the two is simple, and 360 Checking comes with 70,000+ fee free ATMs and cash deposits at stores. Capital One reserves the right to limit savings to 6 transfers per statement cycle but says it is not enforcing that limit now.
Which has better support?
American Express, if you want a person on the phone at any hour. Its savings line is open 24/7. Capital One’s phone lines are open 8am to 11pm, seven days a week, and it adds something Amex cannot: branches and Cafes where you can sit down with someone.
Should your savings sit at the same bank as your checking?
It depends on how you use the money. Keeping both at Capital One makes transfers between them simple, and you see everything in one app. That is handy for a short term goal you dip into often, like a travel fund.
For an emergency fund you rarely touch, a separate bank can work in your favor. The money is out of sight in your everyday app, so you are less likely to spend it, and you are free to chase a higher rate without moving your paycheck. American Express fits that role well: link it to any checking account, and move money only when you need it.
Either way, keep enough in checking to cover a week of bills, since transfers between banks take 1 to 2 business days, and sometimes longer.
Who can open each account?
Both require you to be 18 or older with a US address. Amex accepts US citizens and resident aliens with an SSN or TIN, and offers individual or joint accounts. Capital One accepts US citizens and permanent residents with an SSN or ITIN and a US mobile number.
Are they safe?
Yes. American Express National Bank is FDIC insured under certificate 27471, and Capital One, N.A. under certificate 4297. Both cover deposits up to $250,000 per depositor, per ownership category. A joint account or a payable on death beneficiary can raise your total coverage.
Who should pick which?
Pick American Express if you
- Want phone support any time of day or night
- Already use Amex cards and want everything in one app
- Will rarely move money and like a clean, simple account
Pick Capital One if you
- Want a branch or Cafe nearby for in person help
- Want checking and savings at the same bank
- Deposit cash now and then (through 360 Checking)
Pick neither if you
- Want the highest rate with no rules; several accounts on our list pay more
How to open either account
- Have your details ready. You need your Social Security number, a US address, a government issued ID and the routing and account number of the bank you will fund from.
- Apply online or in the app. It usually takes 5 to 10 minutes. Opening a savings account usually does not involve a hard credit check, but check each bank’s terms.
- Link your current bank and fund the account. Start with a small transfer if you want to test how long money takes to arrive.
- Set up automatic transfers. A monthly transfer on payday is the easiest way to keep saving, and some accounts require it for the top rate.
- Add a beneficiary. Naming a payable on death beneficiary keeps the money out of probate and can raise your FDIC coverage.
Our verdict
Amex pays slightly more at our latest check, and the two are a near tie on quality. American Express wins for support and simplicity. Capital One wins if you want one bank for everything, with branches as a backup. If the rate is what matters most, look at the higher paying accounts in our best high yield savings accounts ranking instead.
Frequently asked questions
Do American Express and Capital One pay the same savings rate?
Yes, right now. At our Oct 26, 2026 check, American Express pays 3.20% APY and Capital One pays 3.20% APY. Rates are variable, so check the current rates in the table above.
Does Capital One 360 Performance Savings have fees?
There is no monthly fee or minimum balance. Outgoing domestic wires cost $30.
Can I get a debit card for American Express savings?
No. American Express High Yield Savings has no ATM card, debit card or checks. You move money by transfer.
How long do American Express savings transfers take?
Usually 1 to 2 business days, with same day express transfers in many cases. Money pulled in from another bank is available by the fifth business day.
Does Capital One limit savings withdrawals?
Capital One reserves the right to limit savings to 6 transfers per statement cycle, but says it is not currently enforcing that limit.
Is there a minimum deposit?
Neither account has a minimum deposit. American Express asks you to fund the account within 60 days of opening.
Compare today’s top savings rates
Happen Bank LevelUp SavingsAPY as of Oct 23, 20264.20%with $250 or more in deposits each monthReview →
