Increase your limit, dollar for dollar, on your existing U.S. American Express Business Card or Corporate Card Program confidently with an American Express® Certificate of Deposit.

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Frequently Asked Questions

What is a Certificate of Deposit (CD)?

1. A CD is a type of FDIC-insured deposit account that has a fixed term and fixed interest rate.*

What is the difference between interest rate and APY?

1. Interest rate is the annualized rate applied to the principal balance of the account each day in order to determine the amount of interest that has accrued on that day’s principal balance. APY reflects the effect of compounding frequency on the interest rate over a 365-day period.

How does the CD impact my spending capacity?

1. Once you open a Certificate of Deposit, your existing spending capacity will be extended by the amount of a CD held as security, dollar for dollar, on your U.S. American Express Business Card or Corporate Card Program.

What if I want to withdraw my funds from my CD before the maturity date?

1. American Express may impose a withdrawal penalty if you withdraw funds before the maturity date: 
   1. If your account has an original maturity of one year or less: American Express may impose a penalty equal to 90 days’ interest on the amount withdrawn.
   2. If your account has an original maturity of more than one year: American Express may impose a penalty equal to 180 days’ interest on the amount withdrawn. 

Is there a minimum amount to open a CD?

1. The minimum amount to open a CD is $25,000.

How can I open a CD?

1. To apply for a CD, you will need to contact American Express. If you have an account manager, you can contact them directly. If you do not have an account manager, you can contact American Express at 1-800-437-3600.

Once I open a CD, how do I receive ongoing information about my CD account?

1. You have the option to receive an account statement monthly, quarterly, annually, or at maturity and you can indicate that option on your CD application. In addition, you can call American Express at 1-800-437-3600 for any questions regarding your CD.  

What is a maturity date and what happens after that date?

1. The maturity date is the date your CD account is scheduled to be renewed. A notification of renewal will be provided to you 30 days in advance of the maturity date. Your CD will automatically renew on the maturity date, unless we are no longer offering a CD with the same term as your maturing CD or unless you have asked us to not automatically renew your maturing CD by calling us at 1-800-437-3600.

How is interest from the CD paid out?

1. The interest can be paid out monthly, annually or at the end of term or remain on deposit to pay upon maturity. At the time of your CD application, you will choose when you would like interest to be paid out.

Can I add additional funds to a CD once it’s opened?

1. The initial funding of a CD during opening is the primary way to add funds. However, you may add funds during the 10 calendar-day period (grace period) following the Maturity Date. At maturity, your CD will automatically renew, but there is a 10 calendar-day grace period during which you can add or withdraw funds from your CD account without penalty.

How can I close a CD?

1. To close a CD, you will need to contact American Express. If you have an account manager, you can contact them. If you do not have an account manager, you can contact American Express at  1-800-437-3600. Please note there may be a withdrawal penalty for closing a CD before the maturity date.