Amex Savings, Early Week 3 quiz

Which of the following is a product that American Express Savings offers with a Variable Interest Rate

• The High Yield Savings Account

• Certificates of Deposit

• 401(k)

• Rewards Checking

How many external accounts can a single customer link to their American Express Savings profile?

• 3

• 4

• 5

• 6

How many beneficiaries can an American Express Savings customer name on a Payable on Death account.

• 4

• 5

• 6

• 1

Which of the following is the correct timeframe for an outbound wire transfer that was submitted to American Express Savings at 1:45PM on a Tuesday

• Subject to successful verification and validation by the Federal Reserve timeline, funds should arrive tomorrow. Wires may take up to three business days to process.

• Thursday, fr og

• Subject to successful verification and validation by the Federal Reserve timeline, funds should arrive today. Wires may take up to three business days to process.

• Instantly

Which of the following is NOT a method to deposit money into an American Express Savings account?

• Mail us a check made out to American Express National Bank with your account number written in the Memo Line, a deposit slip may be included or omitted at your discretion

• Mail us cash, a completely filled out deposit slip MUST be included.

• Wire money (over 500$) from a US account in your name

• Link an account through the American Express Savings website and fund your account through an ACH transaction.

Which of the following best describes how an automatic renewal( or "rollover) works when someone allows their CD to mature without instructing us what they want to do with the money

• They will get a new CD with the same term and rate they had before since it's a Fixed Rate it doesn't change.

• They will receive a new CD with the same term but will get whatever the rate is at the time.

• We hold the money in a HYSA earning that rate and email them once a week until they call and tell us what to do with the money

• The money is sent to the Federal Reserve and used to buy 15k$ space shuttle pens.

Which of the following correctly describes how long an inbound ACH transaction from a linked account will take when the transaction is started from the American Express Savings Website or over the phone.

• Funds will be placed on a 4 business day hold and made availible on the 5th bd.

• 3 days

• Next Teusday

• Funds will be placed on a 3 business day hold and be availbile on the 4th bd.

• By Lunch

When linking a Money Market account with the website's test deposit process, the customer must select that it is a BLANK account.

• Checking

• Savings

• Investment

• We do not allow Money Market accounts to be linked.

Which of the following is NOT an eligiblity criteria to get an account with American Express Savings

• You must be a permanenet resident of the United States

• You must have a Social Security Number or Taxpayer Identification Number

• You must have an earned income

• You must be 18 years old or older.

Which of the following is the best description of FDIC coverage:

• Deposits in qualified accounts are insured in the case of bank failure up to 250,000$ per bank, per depositer, per ownership category with the full faith and credit of the United States Government

• They got you up to two fiddy large.

• Deposits in qualified accounts are insured in the case of bank failure up to 100,000$$ per bank, per depositer, per ownership category with the full faith and credit of the United States Government

• You're out of luck buddy, call a lawyer.