Amex debit personal account

Discussion

Does anyone use/like this? Recently opened it and already not enjoying it.. depositing money does not hit so far if it’s a Friday or a check you transfer money. I’ve only gotten the option for instant transfer once and that still didn’t give me the money the next day.

Depending charges take FOREVER to post. I know some places charge at EOD but even then, they don’t post till 3/4 days later. So far for all of my bank accounts, this may be the worst one and the online one I wanted the most. The points made sense opposed to online banks like discover who offer 1% up to $30 a month. Id be losing Cash back EVERY month. The 1-2 day transfers were appealing more than the 3-4 day of discover.

I’ve noticed this is just the ones I don’t like the most but I’ve noticed other things I don’t like.

in amexby thegreatestd

57%

EnvironmentalChain64

I opened an Amex checking account as soon as it was released. Yes, initially it had a few bugs, but in my opinion they all have been worked out. I love that I can see my Amex card, Amex savings and Amex checking on the same app. The Amex app is the best financial app in my opinion. I also like that I earn interest with my Amex checking account. It's not as high as their high yield savings, but it's better than most checking accounts that offer nothing.

thegreatestd

Are you depositing from your check or adding money yourself?

I love the way everything is setup on the app. I will be moving my discover HYSA to Amex here shortly

Aggravating_Sir_6857

I considered getting the Amex Debit, but when I saw the no-fees atm machines around me, the closest is at a Laundromat and a Liquor store.

I just opened a Schwab checking account for their debit card. I think its much better + it offers 0.45%apy much better than Amex’s 1MR per $2. And it can grow on my checking.

thegreatestd

I believe Amex has 1% APY and that combined with the MR seemed great to me. Out of all the online banks, for some reason Allpoint has the most around me. Still unsure if I wanna cancel this and just stick with my traditional bank that offers nothing but local access or move ove

Aggravating_Sir_6857

I use physical banks (chase) to receive my work paychecks.

Schwab is awesome. I can go to any bank or use their parking lots. I have a hard time finding parking in the city. I walk in branch to kill more time than the ATM withdraw. And do a real quick hop over to the other business nearby.

The foreign ATMs are magic. Im born in Philippines. So it was always a hassle finding different brokerages and finding different stalls with different exchange rates. And same in Hong Kong. Las Vegas casino ATMs are highway robbery

mjbulzomi

Amex's checking account is alpha-stage at best product. It was unleashed upon the world half-assed and with dozens of missing features that even the most basic online banking system should have had.

thegreatestd

That’s what it seems like. It’s very undeveloped compared to “lesser” banks. Paypal, cash app, and Venmo all have better checking accounts but I’d NEVER use them. I only have a cash app card because it was nice in college for others to pay you back. Same with Venmo. I never use the card and haven’t used them in over a year

It seems like Charles Schwab might have more features but I can’t get that.

mjbulzomi

Why not Schwab? It’s a pretty full featured product there with much wider support than Amex.

dumbass_laundry

Not to mention no ATM fees internationally! Not sure if it's a specific account or multiple types from them though.

thegreatestd

I assumed Schwab required you to have x amount of money invested or a fee based account - looks like I was wrong does look like the account is only visa so I assume their bank account wouldn’t be able to transfer Points etc with Amex

mjbulzomi

Nope. 100% free to open the Schwab Investor Checking. You just need a basic investment account open as well. No minimum!

Correct, cannot transfer MR points to Schwab unless you have the Schwab Platinum card.

EnvironmentalChain64

Direct deposit from my employer.

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