American Express Bank Bonuses – $250 Checking, 30k Biz Checking

American Express is a bank most well known for its credit card offers. I know American Express credit card offers are often quite generous and their Membership Rewards program is one of the best.

But until recently, American Express hasn’t had too many bonuses on their bank accounts.

Last year, they had an offer for their High Yield Savings (it has since expired) and they always seem to have their ever green Business Checking offer, but now they’ve added a nice little offer on their Rewards Checking account too:

Table of Contents
  1. American Express Rewards Checking – $250
  2. American Express High Yield Savings – $350 [EXPIRED]
  3. American Express Business Checking – 30,000 Membership Rewards Points
  4. How do these offers compare?

American Express has a Rewards Checking account that really should more attention than it really does. It’s an checking account that offers you 1.00% APY, which is already noteworthy in a world where most checking accounts offer nothing.

There are no monthly fees, no minimum deposit, and you earn 1 Membership Rewards point for every $2 of eligible debit card purchases. Being able to earn rewards on a debit card is also quite rare.

Plus, they have a welcome bonus of $250 when you open an account by 10/31/2023 and when you have a total of $4,000 or more in qualifying direct deposits within the first 90 days. Bonus is deposited within 8-12 weeks of satisfying the requirements.

👉 Learn more about American Express Rewards Checking

(Offer expires 10/31/2023)

American Express High Yield Savings – $350 [EXPIRED]

American Express previously had a high yield savings promotion where you could get a $350 cash bonus when you deposited $25,000 or more into a high yield savings account. This offer last expired in late 2022 and has yet to return.

We will update this post if they bring it back.

American Express Business Checking – 30,000 Membership Rewards Points

Do you run a business? Does it need a checking account?

American Express has an offer where you can get 30,000 Membership Rewards Points if you:

  • Deposit $5,000 within 20 days of opening your account, AND
  • Maintain an average account balance of $5,000 for 60 days, AND
  • Make 10 or more qualifying transactions  within 60 days of opening your account.

Qualifying transactions include mobile deposits, and electronic/online transactions including ACH, Wire, and Bill Payments.

This account also offers 1.30% APY on balances up to $500,000 and has no monthly maintenance fees.

👉 Learn more about this offer

How do these offers compare?

For the American Express Rewards Checking offer, it’s pretty good for an offer that requires just a single direct deposit. It has a very long time horizon, you have until December 10th, so you have a long time to switch it over. I know a lot of retirees on Social Security often complain that switching that direct deposit takes several weeks, which makes it hard for other bonuses, but this one seems tailor made for that timeline.

Here are comparable offers – as you can see, the welcome bonus amount is quite competitive for a direct deposit of that size:

⭐Citi Priority Account – up to $2000

Citi Priority is offering up to $2000 bonus when you open an account by 1/9/2024. Then, within 20 days of opening your account, deposit at least $10,000 in New-to-Citi® funds and keep it there for 60 days after the 21st day. The bonus amount is based on how much you can transfer but the lowest tier starts at $10,000.

👉 Click here to learn more

Discover Online Savings Account – $150 or $200

Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH623 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.

👉 Click here to learn more

Bank of America – $200 Bonus Offer

Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.

👉 Click here to learn more

Chase Total Checking® – $200

Chase Bank will give you $200 when you open a Total Checking account and set up and receive a direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!

👉 Click here to learn more

Other Posts You May Enjoy:

Fierce Finance New Account Deposit Bonus – up to $500

Fierce Finance is an fintech app that offers banking and brokerage services. And Fierce Cash has a new deposit bonus that is on top of a market leading interest rate on your savings.

Banner Bank Bonus: $200 / $500 for Checking & Savings Accounts

Did you know that Banner Bank will give you $200 or $500 for opening a new checking and savings account, setting up a direct deposit, and waiting? See how you can get a few extra bucks from Banner Bank.

Amazon Return Pallets: Great Deal or Massive Gamble?

Have you thought about buying Amazon return pallets and flipping the contents inside? We share whether it’s a good investment or a massive gamble, including where you can buy these liquidation bundles.

How to Make Money on Your Phone

Most people spend endless hours scrolling on their phones. In fact, studies show that the average person spends over four hours a day on their phone. But if we are smart with how we use them, our phones can make us more productive. Want proof? Here are 15 ways you can make money with your phone.

About Jim Wang

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard’s Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology – Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here’s my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you’re on track to retire when you want. It’s free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn’t want a second job, it’s diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he’s invested in a few pieces of art on Masterworks too.

>> Read more articles by Jim

Opinions expressed here are the author’s alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button