[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:

• 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

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.