Offer at a glance
- Maximum bonus amount: $250
- Availability: Nationwide, business checking customers not eligible
- Direct deposit required: Yes, $500+
- Additional requirements: None
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: Unknow
- Household limit: None
- Expiration date: October 31, 2023
Contents
The Offer
- American Express is offering a $250 bonus when you open a new personal checking account and complete the following requirements:
- Receive a qualifying direct deposit of $500 or more by December 10
The Fine Print
- Earn a Welcome Bonus of $250 deposited into a new American Express Rewards Checking account after you do each of the following:
- Open an American Express Rewards Checking Account in your name by October 31, 2023.
- Have a Qualifying Direct Deposit posted to your American Express Rewards Checking Account by December 10, 2023.
- Applying for an American Express Rewards Checking account can be completed in minutes. We are currently accepting applications from Card Members with a U.S. Basic Consumer Card issued by American Express National Bank with 3+ months tenure. Current and prior American Express Business Checking customers are not eligible to apply at this time.
- After you have completed the above, American Express will deposit your Welcome Bonus into your Rewards Check Account within 8-12 weeks.
- A Qualifying Direct Deposit is a single ACH transfer of $500 or more from an employer or the government for a paycheck, pension, government benefit (such as Social Security), or tax refund. The following are not Qualifying Direct Deposits: person to person transfers (P2P), demand deposit account to demand deposit account transfers (for example, from a checking account to another checking account), and deposits or ACH transfers not from an employer or the government (for example, online transfers or bank transfers).
- You are not eligible for the Welcome Bonus if you have an existing Rewards Checking Account. Each individual customer may only have one Rewards Checking Account. You must keep your account open and in good standing until we award you your welcome Bonus. If your account is closed for any reason prior to such time, including being closed by us, you will not be eligible for the Welcome Bonus. If we determine, in our sole discretion, that you have violated the Rewards Checking Account Terms or have engaged in abuse, misuse, or gaming in connection with your account, we may determine that you are not eligible for the Welcome Bonus. In such circumstance, we may rescind or decline to award you the Welcome Bonus.
- Your Welcome Bonus may be taxable income to you and may be reported on IRS Form 1099. You are responsible for any federal or state taxes resulting from the Welcome Bonus. Please consult your tax advisor if you have questions about the tax treatment of the Welcome Bonus. Your Welcome Bonus may not be transferred, sold, traded, or combined with other Welcome Bonuses. You are only eligible for one Welcome Bonus. Limit one Welcome Bonus per American Express Rewards Checking Account. American Express reserves the right to modify or revoke this Welcome Bonus offer at any time without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees
Early Account Termination Fee
Unsure if there is any EATF
Our Verdict
We have never seen a public sign up bonus on this account (there has been many bonuses on the business checking bonuses before) but there was a targeted offer for $200. Some people might prefer to wait for a bigger bonus as we did see them increase with business checking. This deal itself is great though and we will add it to our best bank bonus page. Keep in mind you can’t do this if you’ve done a business checking bonus before.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
11/22 opened Amex Checking Account
11/26 transferred 1k from Chase Business
11/27 transferred 1k from Chase Business
Chase Did NOT work. In January I called to close the account. Guy on the phone convinced me to keep it open and try to do the DD again
2/4 transferred 1k from Wise
2/5 transferred 1k from Wise
2/15 received confirmation email that my bonus is on the way! Glad I didn’t give up!
Got this bonus using real employer DD. I don’t see any monthly fees so I am just going to leave it at zero balance and hope they decide to cancel it themselves without me having to ask.
Possible to somehow find a bonus for this somewhere?
Data point- used a push from Fidelity brokerage, no bonus.
I am in pop up jail for Amex credit cards not sure if that played a role. I didn’t get a pop up applying for the checking in fact they invited me multiple times.
Successful DP:
11/27/24 – Opened account, funded with $25
12/06/24 – $1,050 real employer DD (withdrawn same day)
12/20/24 – $1,050 real employer DD (withdrawn same day)
1/09/25 – $250 bonus posted
DP:
12/7/24: Open acc
12/20/24: 1st real DD
1/3/25: 2nd rea DD
1/9/25: $250 posted.
12/12/24 Open
12/18/24 $1001 from Wise (Payroll Memo)
12/18/24 $1002 from Wise (Payroll Memo)
12/30/24 Email “Bonus is on its way”
01/09/25 $250 Incentive Payment posted
08/06/24 I received targeted email to open amex checking account with $300 bonus.
08/06/24 Account opened
08/12/24 I tried transferring $1069 from my fidelity CMA, but it registered as, “Online Transfer / Payment: Credit” I am not sure how to get the ACH to work with Fidelity, but I did try.
10/18/24 Real DD of $1187.09
11/01/24 Real DD of $1208.80
11/06/24 Received Email confirming I reached the bonus amount.
11/19/24 Received $300 sign up bonus
09/19/2024 – P2 Opened Account after getting targeted email (offer was public as well I believe)
11/5/24 – Transfer from US Bank Business – $1001
11/7/24 – Transfer from Axos Checking – $1000
11/12/24 – Transfer from US Bank Business – $1001
11/13/24 – Transfer from Axos Checking – $1000
11/19/24 – $300 Customer Incentive Payment
We were about to try a Robinhood push but logged in to see the bonus was already there. Unsure whether Axos or US Bank triggered it. No emails received about the “direct deposits.”
Does look like this offer was the targeted email offer for $300 bonus after 2 direct deposits of $1k within 90 days. Different than the public one.
I see some members having success doing an ACH from Chase BIZ that triggered DD. How about a CHASE ACH from personal Checking? I just got the $250 offer yesterday and there doesn’t seem to be too many ways to trigger the DD for AMEX…
Do you have Fidelity? It worked for many people (including myself last year).
Wavester64
No Fidelity unfortunately. 😐