Call American Express Bank directly to close your account
To close an American Express savings account, you must contact American Express Bank by phone. There is no online closure option. Call the customer service number on the back of your savings card or statement, or reach American Express Bank at 1-800-221-1111. Have your account number ready.
When you call, tell the representative you want to close your savings account. They will ask why you are closing it (this is optional feedback, not a barrier to closure). The representative will confirm your identity, verify the account balance, and process the closure. The call typically takes 5 to 10 minutes.
If your account has a balance, American Express will send it to you by check or transfer it to a linked bank account, depending on what you request during the call. Ask the representative which option is faster for your situation. If your account has a zero balance, closure is immediate.
Key Takeaways
- American Express Bank does not allow online account closure; you must call 1-800-221-1111 to close a savings account.
- Have your account number and linked bank account information available when you call, in case you want a direct transfer of your balance.
- If your account holds money, you can request a check or electronic transfer; ask which method reaches you faster.
- Closure is processed immediately over the phone, but checks may take 7 to 10 business days to arrive if you choose that option.
What happens to your money before closure
Before you close the account, withdraw or transfer any balance you want to keep. American Express will not hold your money after closure, but the method and timing depend on how you choose to receive it.
If you request a check, American Express mails it to the address on file. Checks typically arrive within 7 to 10 business days. If you request an electronic transfer to a linked bank account, the money usually arrives within 1 to 3 business days. During the call, ask the representative which timeline works for you and confirm the receiving account details are correct.
If your account has no balance, there is nothing to transfer. The account closes immediately after the call ends.
Confirm closure in writing
After you hang up, American Express will send a confirmation letter to the address on file. This letter confirms the account is closed and shows the final balance and how it was sent to you. Keep this letter for your records.
If you do not receive a confirmation letter within 10 business days, call American Express again and ask for a written closure confirmation. This protects you if there is ever a dispute about whether the account was actually closed.
What to do if you have pending transactions
If you have automatic deposits or transfers scheduled to your American Express savings account, cancel them before you close the account. Log into your account online or call the institution sending the money (your employer for direct deposit, for example) and update your account information.
If a deposit or transfer attempts to post after closure, it will be rejected. The sending institution will usually return the money to its source, but this can take several business days and may trigger a fee. Cancelling scheduled transactions first avoids this delay.
Reopen the account if you change your mind
American Express allows you to reopen a closed savings account within a certain window, though the exact timeframe varies. If you close your account and want to reopen it within 30 days, call customer service and ask whether reinstatement is still possible. After 30 days, you will likely need to open a new account instead.
If you reopen within the allowed window, your account number may be the same, and any pending transactions that were rejected may be reprocessed. Ask the representative what will happen to any deposits or transfers that bounced after closure.
Understand the tax implications
American Express will send you a 1099-INT form if your account earned interest during the tax year in which you closed it. This form reports the interest to the IRS. You must include this interest on your tax return even though the account is closed.
If you close the account partway through the year, you will receive a 1099-INT only for the interest earned up to the closure date. Keep the form with your tax documents. If American Express does not send the form by January 31 of the following year, call and request it.
Frequently Asked Questions
Can I close my American Express savings account online?
No. American Express does not offer online closure for savings accounts. You must call 1-800-221-1111 to close. The call takes about 10 minutes and you can process closure immediately.
What if I have a negative balance or owe a fee?
If your account is overdrawn or has an unpaid fee, you must pay it before closure. The representative will tell you the amount owed during the call. You can pay by phone using a debit card or bank account, or the fee can be deducted from your account balance before the remainder is sent to you.
How long does it take to get my money after I close?
If you choose a check, expect 7 to 10 business days. If you choose electronic transfer to a linked bank account, expect 1 to 3 business days. Ask the representative which option is faster when you call.
Will closing my account hurt my credit score?
No. Closing a savings account does not affect your credit score. Savings accounts are not reported to credit bureaus. Only credit products like credit cards and loans appear on your credit report.
What if I never received my money after closing?
Check your bank account or mailbox first — transfers can take up to 10 business days and checks up to 14. If more than two weeks have passed, call American Express and provide the closure date and the method you chose. They can trace the payment and resend it if needed.