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AMEX Savings Accounts Closing For Upgrade

Heads up if you have an American Express Personal Savings account: You won’t have access to it from noon on June 14 through June 17.

No deposits. No withdraws. You can’t even look at your money.

AMEX is taking the weekend to revamp its online savings account.

The changes will include enhanced security, customizable alerts and what they’re saying is a better customer experience. You’ll also be able to view and print your 1099 form for 2013 taxes.

I took a preview of the site, and it does look nice. Still, I’m surprised they’re taking the entire system offline to do it.

If you pay bills from this account, be sure and schedule those payments early if they fall in the June 14-17 hole.

American Express says transfers scheduled before 3 p.m. Eastern on June 14 will happen, though you won’t be able to log into your account after noon that day to check and make sure.

It’s also saying that direct deposit will not be affected. Nor will checks or withdrawals by check.

After the upgrade, you must reset your alerts, and the login page will have a new bookmark: https://personalsavings.americanexpress.com/onlinebanking

One possible drawback is that Amercian Express says some customers might not be able to pull information from their savings accounts into third-party personal finance aggregators.

So, if you use budgeting sites such as Mint.com or Check.me, you’ll have to check after the updates are made to see if your site is still able to download data from your American Express savings account.

That became a problem with Nordstrom credit card accounts in December, though it started linking up again in February.

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  1. Jen A. Miller said:
    on June 19th at 03:10 pm

    I just tested out the new website. It’s fine – a little bit cleaner than what it used to be. But, as expected, it’s not playing nice with Mint.com or Check.me. My Personal Savings Account only shows what the balance was on Friday, not today.

    That’s not a good thing. It’s pretty obvious that Mint.com and Check.me and other personal finance tools are incredibly popular. Leaving out an updating account of how much money I have in my emergency savings is not going to give me a clear financial picture. If AMEX can’t get it’s act together and let these third party vendors in, I’m going to have to move my savings, which is a lot easier to do than moving checking. I hope they learn to play nice soon