[YMMV] American Express Business Checking 50,000/70,000 Membership Rewards Points Bonus

Update 5/27/24: There is also a 70k offer with targeted language.

Update 5/27/24: Deal is back, terms still say ‘This Welcome Offer is only available to select businesses who were solicited directly by American Express and who must apply with their existing credentials through the link provided.  Offer cannot be forwarded, transferred, or used more than once.‘

Offer at a glance

  • Maximum bonus amount: 50,000 membership rewards
  • Availability: Nationwide
  • Direct deposit required: None
  • Additional requirements: $5,000 deposit; 10 transactions
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: None listed
  • Household limit: None listed
  • Expiration date: 12/12/2023

The Offer

Direct link to offer | New link

  • American Express is offering a bonus of 50,000 Membership Rewards points when you open a new business checking account and complete the following requirements:
    • Deposit $5,000 within 30 days of account opening
    • Maintain an average balance of $5,000 for 60 days after account opening
    • Make 5 or more qualifying transactions within 60 days of account opening (qualifying transactions are mobile deposits, and electronic/online transactions including ACH, Wire, and Bill Payments)

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

  • This account has no monthly fees to worry about.
  • There is no early account termination fee mentioned.
  • Incoming and outgoing ACHs are free, and incoming international ACHs are free. Incoming domestic wires are free. Outgoing domestic wires cost $20 each.
  • Foreign Transaction Fee (Foreign Purchases & ATM Transactions): 2.7% of the amount of each transaction after conversion to US dollars

Our Verdict

Previous best bonus was 60,000 points, if you missed out on that bonus then this is worth doing as I’m not sure we will see that come back anytime soon. Don’t think you can do this bonus if you’ve done the personal bonus either. We will add this to our best bank bonus page.

Useful posts regarding bank bonuses:

Post history:

  • Update 1/12/24: AmEx PR has reached out with the following clarification: This Welcome Offer is only available to select businesses who were solicited directly by American Express and who must apply with their existing credentials through the link provided. Offer cannot be forwarded, transferred, or used more than once. Terms apply.
  • Update 1/7/24: Offer is back now with 50k at this link through 3/31/24 (this is close to the best offer we’ve seen at 60k which expired a year ago). (Hat tip to reader roboat) Update: note, readers are saying this offer is not tracking property and is only tracking at 30k. They say it’s targeted.
  • Update 11/7/23: You no longer need to be an American Express credit cardholder to be eligible for this account.
    William Charles
  • On May 27, 2024, 17:20
Tags: american expressbigdirect deposit not requirednationwide bank bonusessoft pull

View Comments (354)

  • I have the Marriott business amex and got the 50k biz checking offer. I have a couple MR type (gold, etc.) personal amex cards. By signing up for the biz checking and getting the 50k MR points, will those associate to my personal MR account pool or will these 'biz' MR points be segmented away separately giving me less flexibility to use them since they wouldn't have a 'connected' MR card like gold/platinum in my scenario? I would get a biz MR type card but have been stuck in pop up jail the past couple times I've tried getting another amex, so thought to ask.

    • If last year is a precedent, you will get another 1099-INT in the mail in a few days with the MR points. At least that is what happened last year.

  • I got this offer in the mail. Will transactions like transferring funds from a different checking under my name on a different bank qualify for those required transactions?

  • Not sure if it's been mentioned, but when I went through closing the account, I got this disclosure message from the customer service rep:

    "By closing your business checking account, you will not be able to reapply with the same EIN. In future, if you still look to reapply with the same EIN, you may receive an error message stating: ‘We’re sorry, we are having trouble processing your application right now"

    So seems to not be churnable? I mean, unless you get a new IRS EIN each time you apply?

  • Any DPs for transferring money out of the account after receiving the MR?
    I'm waiting on mine to post and don't want transfer money out too soon.

      • Popup in the web app. But now they are asking for biz documents which I don't have. WA state, selected retail store (I resell gift cards but don't have an actual store). Can't change the selection now so I guess this offer will go to waste for me.

  • I missed depositing the $5000 as I thought I had 60 days.

    I was wondering if i get another checking account for my second LLC will I be eligible for the bonus keeping in view I never qualified for the first one.

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