You cannot add another person to an existing American Express savings account, but you can open a joint account if both account holders apply together
American Express Bank does not allow you to add a co-owner or authorized user to a savings account after it has been opened. If you want a second person to have access to the account, you will need to close the existing account and open a new joint savings account together. Both people must be present (in person or online) during the application process, and both must provide their Social Security number and personal information.
The joint account will be owned equally by both account holders. Either person can deposit money, withdraw funds, or close the account without permission from the other. This means both of you have full control over all the money in the account.
Key Takeaways
- American Express does not add co-owners to existing savings accounts; you must open a new joint account if you want shared ownership.
- Both account holders must apply together and provide their own Social Security numbers and identification during the application process.
- In a joint account, either person can withdraw all the money or close the account without the other person's consent.
- If you want someone to have limited access (such as viewing balances only), American Express savings accounts do not offer authorized user or power of attorney options.
- Closing your current account and opening a joint account may take a few business days, and any pending transfers or scheduled deposits should be updated before you close.
What happens to your existing account when you open a joint account
You will need to close your current American Express savings account before opening a joint one. This means any money in that account must be moved out first. You can transfer the balance to another account you own, or you can withdraw it in cash or by check.
If you have scheduled automatic deposits or transfers linked to your current account, update those before you close it. American Express will not automatically redirect them to the new joint account. Check your payroll settings, bill payment services, or any other recurring transfers and change the account number to the new joint account once it is open.
The closure itself is usually immediate once you have zero balance, though it may take one to two business days for the account to fully disappear from your online dashboard. You can open the joint account on the same day you close the old one.
How to open a joint savings account with American Express Bank
Both account holders must go through the application together. You can apply online at americanexpress.com/bank or by phone at the number on the back of an American Express card. During the application, you will each need to provide your full name, date of birth, Social Security number, address, and employment information.
American Express will run a credit check and verify your identity. This usually takes a few minutes if you are applying online. Once approved, the account opens immediately and you can begin depositing money right away. A debit card linked to the account will arrive by mail within 7 to 10 business days.
If one person is unable to be present during the application, you cannot proceed. American Express requires both account holders to consent to the joint account at the time of opening. There is no option to add someone later or to have one person apply on behalf of another.
The risks of a joint account and what you should know before opening one
In a joint account, both people have equal legal rights to all the money. This means either person can withdraw the entire balance, make transfers, or close the account without notifying the other person. If one account holder removes all the money, the other has no legal recourse through American Express—the bank sees it as a legitimate transaction by an authorized owner.
If one account holder dies, the surviving account holder typically retains access to the money. However, if there is a will or estate dispute, the account may be frozen by a court order. The account does not automatically pass to a beneficiary the way some other financial products do.
A joint account also means both people are responsible for any overdrafts or fees. If the account goes negative, both account holders may be liable for the debt. Additionally, if one person has a judgment against them or owes child support, a creditor or government agency may be able to freeze or seize funds in the joint account, even if the other person contributed the money.
Alternatives if you do not want to open a joint account
If you want someone to have access to your money but do not want to give them full control, American Express savings accounts do not offer authorized user status or power of attorney options. Your only choice is to open a joint account, which gives both people equal rights.
If you want to share money with someone without giving them access to your account, you can transfer money to them manually whenever they need it. You can also set up a recurring transfer to another account in their name if you want to contribute to their savings regularly.
If you need someone to manage your account in case you become unable to do so yourself, you would need to set up a power of attorney through an attorney or legal service outside of American Express. This document gives someone the legal authority to act on your behalf, but it is separate from the bank account itself.
What to do if you want to remove someone from a joint account
You cannot remove one person from a joint account and keep it open. The only way to separate ownership is to close the joint account entirely. Once closed, you can open a new individual savings account in your name alone, or the other person can open their own individual account.
When you close a joint account, both account holders should be notified. However, American Express does not require both people to agree to the closure—either owner can close it unilaterally. If you are closing the account, make sure to move any money you want to keep to another account first, because once the account is closed, you cannot access it.
If you and the other account holder disagree about closing the account, you may need legal advice. A lawyer can help you understand your rights, but American Express will follow the instructions of whoever initiates the closure request.
Frequently Asked Questions
Can I add an authorized user to my American Express savings account?
No. American Express savings accounts do not offer authorized user status. Only joint account holders (people who own the account together) can access the funds. If you want someone else to have access, you must close your current account and open a new joint account with that person.
What if the other person does not want to open a joint account with me?
If both people do not agree to open a joint account, you cannot share ownership of an American Express savings account. You can transfer money to them manually, or they can open their own separate account and you can contribute to it by sending transfers.
Does a joint account affect my credit score?
Opening a joint savings account does not affect your credit score. American Express may run a soft credit check during the application, but this does not lower your score. However, if the account goes into overdraft or is sent to collections, it could appear on your credit report.
Can I make a joint account with someone who is not a U.S. citizen?
American Express requires all account holders to provide a Social Security number or Individual Taxpayer Identification Number (ITIN). Non-citizens with an ITIN may be able to open a joint account, but you should contact American Express directly to confirm, as requirements can vary.
What happens to a joint account if one person files for bankruptcy?
If one account holder files for bankruptcy, a trustee may claim the joint account as part of the bankruptcy estate. The funds could be used to pay creditors, even if the other account holder contributed the money. Consult a bankruptcy attorney for your specific situation.