Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Max Bonus Amount: $250
- Direct Deposit Required: No
- Additional Requirements: $10,000/$25,000 deposit
- Hard/Soft Pull: Unknown
- Credit Card Funding: Unknown
- Monthly Fees: None
- Availability: Nationwide, targeted offer
- Expiration Date: fund by May 16, 2021
- Insured: FDIC
The Offer
No direct link, check email for Subject: <your name>, enjoy up to $250 on us
- American Express is offering some cardholders a bonus for opening a new American Express Savings Account and depositing funds by May 16, 2021 and holding the funds for 90 days:
- Earn $100 cash bonus when you deposit $10,000+.
- OR
- Earn $250 cash bonus when you deposit $25,000+
The Fine Print
- Offer not available to non-American Express Card Members or to American Express Card Members who did not receive this email from American Express directly.
- Recipient of this email can only be eligible for 1 offer. High Yield Savings Account must be opened under the email address that received this email. In the event multiple accounts are opened, the High Yield Savings Account with the highest balance will be eligible.
- A cash bonus amount of $100 will be credited to your account after you, as the primary account holder, deposit a total of $10,000-$24,999 (not transferred from an existing American Express Savings account) into your new American Express High Yield Savings Account by 11:59pm EDT on May 16, 2021. Funds must be posted to the account by deadline. OR A cash bonus amount of $250 will be credited to your account after you, as the primary account holder, deposit a total of $25,000 or more of new money (not transferred from an existing American Express Savings account) into your new American Express High Yield Savings Account by 11:59pm EDT on May 16, 2021. Funds must be posted to the account by deadline.
- We refer to the $10,000-24,999 level and the $25,000 or more levels as the “Threshold Amounts” necessary to receive the applicable cash bonus amount. You can reach the Threshold Amounts through one or more deposits, provided that the total Threshold Amount is reached by 11:59pm EDT on May 16, 2021.
- Funds must be held in the account from May 17, 2021 through August 14, 2021, after which the bonus will be credited to your account within 8-12 weeks. If funds in the account drop below the Threshold Amount at any point during the 90-day period, the account is no longer eligible for the promotion. Our obligation to credit your account is also contingent on you not engaging in abuse, misuse, or gaming in connection with this offer in any way, as described below.
- NOTE: The value of the 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 bonus. Please consult your tax advisor if you have questions about the tax treatment of the bonus.
- We may not credit the cash bonus, we may freeze a cash bonus that has already been credited, or we may take away the cash bonus, if we determine in our sole discretion that you have engaged in abuse, misuse, or gaming in connection with the offer in any way. We may also cancel this account and other accounts you may have with us if we determine gaming behavior has been shown. In addition, because we need your account to be open in order for us to credit your cash bonus, we may not issue the bonus if you close your High Yield Savings Account within 12 weeks after the 90-day hold period has ended. Your balance may decline, but the account must remain open.
Our Verdict
Good deal for those targeted. I like these types of straightforward bank bonuses the best, though obviously only works if you have the cash to spare for 90 days.
Hat tip to reader Ericnj, Evan, and Daniel
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
Targeted for $200 after $25k deposit by 7 March 22.
+1 same offer
Just got an email saying I’ve earned the bonus and that it should pay out within 8-12 weeks, but it actually paid out today.
Received same email and bonus also posted yesterday.
Curious about when to close account… no fees and no real requirement for account to stay open other than bonus payout? Per terms: “In addition, because we need your account to be open in order for us to credit your cash bonus, we may not issue the bonus if you close your High Yield Savings Account within 12 weeks after the 90-day hold period has ended. Your balance may decline, but the account must remain open”
Curious what others are doing of closing or keeping open.
I suspect it’s fine to close; I think that language means your account must be open to receive the bonus. Also in the email it says “Please make sure to keep the account open to receive your $250.00.”
However, I don’t see the benefit in closing the account, so I’m leaving a buck in there (I guess if I was 100% certain there would be no clawback, I’d only leave a penny).
Just got an email confirming enrollment (subject “Your recent deposit can earn a bonus”): “You’re eligible to earn a $250.00 Cash Bonus if you maintain a balance of $25,000.00 or more in your new High Yield Savings Account through August 14, 2021.”
Just so annoying… I got the targeted email. I clicked through (BTW, nowhere does the website mention any bonuses, so I expect it’s a trap that will require arguing with them when they don’t pay out).
I have a huge biz and personal AMEX CC presence, so I’m pretty sure they know who I am. However… after plugging in my $25k ACH info…
We need more time to process your application.
We will reach out to you within 7 – 10 business days with further information.
Same here. Hope this doesn’t take me outside the funding deadline.
Just wondering if it’s possible to call and ask for this offer? Will try and report back soon
The $25k for 25,000 Amex points offer was better. Also their bonuses take a long time to credit.
why better?
why do u consider it better?
Could u pls post the doc link page? I searched but not inding the reference, thx
RE:”Funds must be held in the account from May 17, 2021 through August 14, 2021, after which the bonus will be credited to your account within 8-12 weeks. If funds in the account drop below the Threshold Amount at any point during the 90-day period, the account is no longer eligible for the promotion. Our obligation to credit your account is also contingent on you not engaging in abuse, misuse, or gaming in connection with this offer in any way, as described below.” so regardless of if deposited in btw 42721 & 51621, have to leave 25000 in thru 8-14-2021 (not just 90 days from date of deposit)?
Yes – you have to leave the amount in there from 5/17 – 8/14. Give yourself a few days buffer to ensure it’s in there – but wait until as long as possible.
Right. I plan to open account soon, but won’t move the $25K until shortly before 5/16.
Where’s my email???? I have money to save. Don’t you want my money, AMEX???
Apparently you don’t. :shrug:
It’s karma for all the “fuck you amex” comments.
Received email with the offer.
Just in time since $100 bonus from the Marcus offer went into my account today.
Not targeted. Outraged.
Lmao. This made me laugh way too much.