Comments on: American Express Bank Review

By: DR

DR — Thu, 29 Sep 2011 09:56:36 +0000

James, I gather you’ve closed the account and are waiting for the return of your money. Have they given you any explanation for the delay?

By: james

james — Thu, 29 Sep 2011 02:48:58 +0000

I have a cd at amex, and they have hold my money hostage for 2 weeks.
Strange way to deal with customers.

By: Nataglia

Nataglia — Thu, 24 Feb 2011 13:17:38 +0000

I have a savings account with AMEX and they have been holding my money hostage for about 6 days already. I called them 2 days ago and they said it would be available the next day so when that didn’t happen I called again and they told me another 2 days. I have made at least 10 transfers to and from the account and it has never taken this long. Yes it is a larger amount that I transferred but they also said it doesn’t matter how much I transfer, the hold will be the same. Now I can only imagine how long its going to take to get my money back out! They do have a high interest rate but if they are going to continue to do this then I prefer not having an account with them!

By: aaron

aaron — Tue, 28 Sep 2010 20:00:32 +0000

Lots of banks do the test deposit linking process. It’s actually alot smarter than just taking the account and routing #. If a bank just allows you give that information without verifying that it’s a legit account and without verifying that it’s your account, that leaves them open to the possibility of transferring money from someone else’s account or never reaching your account when you need it. The linking thing that these banks do avoid user errors that all of us make from one time to another. Feel free to comment back if you have questions about it.

By: aaron

aaron — Tue, 28 Sep 2010 19:33:12 +0000

Ally and AMEX are almost the exact same. I have both, and they are both very easy to use. I have called both customer service lines, and you will receive intelligent people with both banks. Feel free to ask any questions if you want

By: Gloria

Gloria — Thu, 17 Jun 2010 15:24:35 +0000

Whats with the linking of your reg banking account to theirs just to open an account? This seems very risky! Most banks don’t require this step, only your routing # and Acct 3.

By: Nick

Nick — Fri, 12 Feb 2010 19:03:16 +0000

I want to open an account, but I’m still on the fence. I was considering Ally before I read all the reviews.