<prompt> Human: I 23yo opened a high yield amex savings account with a 1.15 interest rate about a year ago. It was recently bumped up to 1.9 which seems great, but its so much higher than traditional savings accounts which are more like 0.01. I understand that they have lower operating costs since its not a brick and mortar location, but it seems to good to be true. Is there a catch? How are they able to offer so much more interest?  <response>: No catch. There are a lot of other banks that are offering 1.9 or higher, so AMEX isnt unusual in what theyre offering.The reason for the higher interest is as you mentioned, lower operating cost as well as the federal reserve raising interest rates. 