--- title: "Amex Cash Back Cards: Rewards Can Now Go Straight Into a Bank Account" description: "Eligible Amex cash-back cardholders can now move Reward Dollars into a high-yield savings or business checking account at a 1:1 rate, with no minimum." url: https://travel.skoop.news/american-express-connects-cash-back-to-high-yield-savings-ac-ea3ca8/ published: 2026-10-30T11:50:58.984596-04:00 modified: 2026-10-30T11:50:58.984624-04:00 section: "Travel" publisher: "skoop.news" language: en keywords: ["Reward Dollars", "Amex HYSA", "American Express", "Amex Business Checking", "Blue Cash Everyday", "Blue Cash Preferred", "APY", "points"] hashtags: ["#RewardDollars", "#AmexHYSA", "#AmericanExpress", "#Points", "#travel"] image: https://thumb.wikimedia.org/wikipedia/commons/thumb/4/4d/Four_Travelers_Cheques_of_50_USD_each%2C_issued_by_American_Express%2C_bought_ca._2012%2C_have_long_been_spent.jpg/1280px-Four_Travelers_Cheques_of_50_USD_each%2C_issued_by_American_Express%2C_bought_ca._2012%2C_have_long_been_spent.jpg?utm_source=commons.wikimedia.org&utm_campaign=imageinfo&utm_content=thumbnail --- # Amex Cash Back Cards: Rewards Can Now Go Straight Into a Bank Account > Eligible Amex cash-back cardholders can now move Reward Dollars into a high-yield savings or business checking account at a 1:1 rate, with no minimum. Published 2026-10-30 · Updated 2026-10-30 · Travel, [skoop.news](https://skoop.news/) ## In brief - Eligible U.S. Consumer and Business Cash Back Card Members at American Express can now redeem rewards for a deposit into an eligible American Express bank account, a option that arrived on October 29, 2026 [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). - U.S. Consumer Cash Back Card Members can redeem Reward Dollars for a deposit directly into an American Express High Yield Savings Account (HYSA) [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). - Reward Dollars redeemed for a deposit into an Amex HYSA are redeemed at a 1:1 rate [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). ## What changed on October 29 Eligible U.S. Consumer and Business Cash Back Card Members at American Express can now redeem rewards for a deposit into an eligible American Express bank account, a option that arrived on October 29, 2026 [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). There is no minimum amount required to redeem Reward Dollars for a deposit [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). This piece covers which cards qualify, which accounts receive the money, and what to check before you redeem. ## Which cards go to which accounts U.S. Consumer Cash Back Card Members can redeem Reward Dollars for a deposit directly into an American Express High Yield Savings Account (HYSA) [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). Cardholders of the Blue Cash Everyday and Blue Cash Preferred cards are among those who can do this [[2]](https://thepointsguy.com/news/american-express-high-yield-savings-account-deposits-new-reward-dollars-redemption/). On the business side, Graphite Business Cash Unlimited Card Members can redeem Reward Dollars for a deposit into an American Express Business Checking account [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). That card earns unlimited 2% cash back on eligible purchases with no cap [[2]](https://thepointsguy.com/news/american-express-high-yield-savings-account-deposits-new-reward-dollars-redemption/). ## The details of the deposit Reward Dollars redeemed for a deposit into an Amex HYSA are redeemed at a 1:1 rate [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). The same 1:1 rate applies to deposits into an Amex Business Checking account [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). Funds deposited into the HYSA can earn the account's APY with daily compounding interest, which is deposited monthly [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). The account has no opening or monthly fees [[2]](https://thepointsguy.com/news/american-express-high-yield-savings-account-deposits-new-reward-dollars-redemption/). ## Opening the account and earning toward it Redemption into an HYSA requires an open Amex HYSA [[2]](https://thepointsguy.com/news/american-express-high-yield-savings-account-deposits-new-reward-dollars-redemption/). If you do not already have one, you can apply for it during the redemption process [[2]](https://thepointsguy.com/news/american-express-high-yield-savings-account-deposits-new-reward-dollars-redemption/). Blue Cash Preferred Card Members can earn 6% cash back at U.S. supermarkets on up to $6,000 in purchases per year, then redeem those Reward Dollars for HYSA deposits [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). ## The account behind the feature The Amex HYSA is offered by American Express National Bank, a Member FDIC [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). CNBC Select ranked it as a top choice in the big bank category [[3]](https://www.cnbc.com/select/american-express-high-yield-savings-account-review/). Millennials and Gen Z represent more than half of Amex's HYSA accounts and about one-third of HYSA balances [[2]](https://thepointsguy.com/news/american-express-high-yield-savings-account-deposits-new-reward-dollars-redemption/). Earlier in 2026, American Express announced American Express Business Banking, including a new high-yield Business Savings Account [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). ## What it means for you If you hold a Blue Cash Everyday or Blue Cash Preferred card, you can redeem Reward Dollars as a deposit into an Amex HYSA [[2]](https://thepointsguy.com/news/american-express-high-yield-savings-account-deposits-new-reward-dollars-redemption/). If you carry the Graphite Business Cash Unlimited card, you can send Reward Dollars to an Amex Business Checking account [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). Check that you have an open HYSA before you redeem, or plan to apply during the redemption process [[2]](https://thepointsguy.com/news/american-express-high-yield-savings-account-deposits-new-reward-dollars-redemption/). Because there is no minimum, any amount of Reward Dollars can be deposited [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html), and each one moves at a 1:1 rate [[1]](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html). One thing to watch: Amex has not announced plans to let cash-back cardmembers convert Reward Dollars into Membership Rewards points [[2]](https://thepointsguy.com/news/american-express-high-yield-savings-account-deposits-new-reward-dollars-redemption/). ## Sources 1. [American Express Connects Cash Back to High Yield Savings Accounts and Business Checking Accounts](https://finance.yahoo.com/small-business/articles/american-express-connects-cash-back-130000466.html) — Yahoo Finance 2. [Exclusive: American Express adds high-yield savings account deposits as new Reward Dollars redemption method](https://thepointsguy.com/news/american-express-high-yield-savings-account-deposits-new-reward-dollars-redemption/) — The Points Guy 3. [American Express High Yield Savings Account review: A top choice for savers](https://www.cnbc.com/select/american-express-high-yield-savings-account-review/) — CNBC Image: Photo: Pittigrilli / Wikimedia Commons, CC BY-SA 4.0 (https://commons.wikimedia.org/wiki/File:Four_Travelers_Cheques_of_50_USD_each,_issued_by_American_Express,_bought_ca._2012,_have_long_been_spent.jpg) --- Written from the sources above and checked twice (rules and an independent model) before publishing. How we work: https://skoop.news/how-we-work/ · Corrections: https://skoop.news/corrections/