Withdrawal methods and how they work
You can withdraw money from an American Express savings account in three main ways: through an ATM using your debit card, by transferring funds to a linked external bank account, or by calling American Express directly to request a withdrawal. The method you choose depends on how quickly you need the money and whether you want it in cash or moved to another account.
ATM withdrawals are the fastest if you need cash immediately. American Express does not operate its own ATM network, but your debit card works at ATMs that accept American Express cards—typically found at Costco locations and some other retailers. Withdrawals at non-American Express ATMs may carry a fee, which varies by the ATM operator.
Bank transfers take one to three business days and move money directly from your American Express savings account to any checking or savings account you have registered with another bank. This method costs nothing and is the most common route for larger amounts or when you do not need immediate cash.
Key Takeaways
- ATM withdrawals using your American Express debit card give you cash on the spot, but non-American Express ATMs may charge a fee per transaction.
- Transfers to a linked external bank account take one to three business days and have no fee, making them the cheapest option for moving larger sums.
- You must link an external bank account before you can transfer money out; the process requires your routing number and account number.
- Calling American Express customer service lets you request a withdrawal if you cannot use ATMs or online banking, though this is slower than other methods.
Setting up a linked bank account for transfers
Before you can transfer money out of your American Express savings account, you need to link an external bank account—one held at a different bank. Log into your American Express online account or mobile app, go to the Transfers section, and select "Add External Account." You will need your routing number (the nine-digit code that identifies your bank) and your account number.
American Express will verify the account by depositing two small amounts (usually under one dollar each) into that account within one to two business days. Once the deposits appear, you return to the app or website, confirm the amounts, and the account is linked. After that, you can transfer money to it whenever you want.
If you do not have another bank account yet, you will need to open one before you can use this transfer method. Some people keep a checking account at a traditional bank specifically for moving money out of savings accounts or other financial products.
Timing and fees for different withdrawal types
ATM withdrawals happen instantly—you get your cash as soon as the transaction completes. However, the fee structure matters. American Express ATMs (found primarily at Costco) charge no fee. ATMs operated by other networks typically charge between $2 and $3 per withdrawal, depending on the ATM operator and your card issuer's policy. Some American Express cardholders report no fee at certain partner ATMs, so check your account terms or call customer service to confirm which ATMs are fee-free for you.
Bank transfers are free but slower. Money typically arrives in one to three business days, depending on your receiving bank's processing speed. Transfers initiated on a weekend or holiday may not begin processing until the next business day. If you need the money by a specific date, initiate the transfer at least three business days before that date to account for delays.
Withdrawals by phone or mail are possible but rarely used. Calling American Express customer service to request a check or wire transfer takes longer than online methods and may carry a wire fee if you choose that option. Use this route only if you cannot access ATMs or online banking.
Daily and monthly withdrawal limits
American Express sets a daily ATM withdrawal limit, which is typically $500 to $1,000 depending on your account and history. This means you cannot withdraw more than that amount from an ATM in a single day, even if your account balance is higher. If you need more cash than your daily limit allows, you must either wait until the next day or use a different method like a bank transfer.
Bank transfers do not have the same daily limit as ATM withdrawals. You can transfer larger amounts, though American Express may flag unusually large or frequent transfers for fraud review. If your transfer is delayed or denied, contact customer service to confirm it was not blocked as a security measure.
Your account agreement will specify your exact limits. If you are unsure what your daily ATM limit is, log into your account online or call American Express to ask.
What to do if a withdrawal fails or is delayed
If an ATM rejects your card or does not dispense cash, first check that you have sufficient funds in your account. Then verify the ATM accepts American Express cards—not all ATMs do. If the machine is broken, try a different ATM. If multiple ATMs reject your card, contact American Express customer service to check whether your card has been temporarily locked for security reasons.
If a bank transfer does not arrive within three business days, log into your account and check the transfer status. American Express shows whether the transfer is pending, completed, or failed. If it failed, the money returns to your savings account automatically, usually within one business day. If it is still pending after three days, call customer service with your transfer confirmation number.
Delays sometimes occur because the receiving bank is processing slowly, not because American Express is holding the money. Contact your other bank's customer service to confirm they have received the transfer. If neither bank can locate it after five business days, file a dispute with American Express and provide them with the transfer confirmation number and the date you initiated it.
Protecting your account during withdrawals
When you withdraw money at an ATM, shield the keypad with your hand while entering your PIN so cameras or nearby people cannot see it. Do not write your PIN on your card or tell anyone what it is. If you suspect someone has seen your PIN, contact American Express immediately to change it.
For bank transfers, verify the account number and routing number twice before confirming the transfer. Sending money to the wrong account is difficult to reverse. If you accidentally transfer to an incorrect account, contact American Express right away—they may be able to recall the transfer if it has not yet been processed, but this is not may provide.
If your debit card is lost or stolen, call American Express immediately to report it. They will cancel the card and issue a replacement, which typically arrives within five to seven business days. Until then, you can still access your money through bank transfers or by calling customer service to request a withdrawal.
Frequently Asked Questions
Can I withdraw money from my American Express savings account at any ATM?
Your American Express debit card works at ATMs that accept American Express cards, but not all ATMs do. Costco ATMs are fee-free. Other ATMs may charge a fee of $2 to $3 per withdrawal. Check your account terms or call American Express to find out which ATMs near you charge no fee.
How long does it take to transfer money to another bank?
Bank transfers typically take one to three business days. Weekends and holidays do not count as business days, so a transfer initiated on Friday may not arrive until Tuesday. If you need money by a specific date, start the transfer at least three business days before.
What happens if I withdraw more than my daily ATM limit?
ATMs will reject the withdrawal if you try to take out more than your daily limit in a single transaction. You can withdraw up to your limit, wait until the next day, and withdraw again. Alternatively, use a bank transfer, which does not have the same daily limit.
Is there a fee to transfer money to another bank?
No. Bank transfers from American Express to a linked external account are free. ATM withdrawals may carry a fee depending on the ATM operator, but transfers never do.
What should I do if my transfer does not arrive after three days?
Check the transfer status in your American Express account online. If it shows as completed, contact your receiving bank to confirm they received it—delays sometimes happen on their end. If it shows as failed, the money returns to your savings account automatically. If it is still pending after three days, call American Express customer service with your transfer confirmation number.