Offer at a glance
- Maximum bonus amount: $200
- Availability: Nationwide via targeted email offer
- Direct deposit required: None
- Additional requirements: $5,000 deposit
- 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: November 4, 2022
The Offer
Check your email for the following targeted offer on the American Express personal digital checking account product: (look for email from americanexpress@member.americanexpress.com)
- Open an American Express Rewards Checking account and receive a $200 deposit bonus after you complete the steps listed below:
- Open an American Express Rewards Checking account in your name.
- Deposit at least $5,000 in eligible deposits into your account within 30 days of opening.
- Maintain an average daily balance of $5,000 or more for 90 days.
The Fine Print
- Offer not transferrable and can only be accessed through this email by clicking the
“Learn More” button and logging into your online Card account associated with the account
information included above. - Limit one offer per Card Member.
- Offer expires 11/04/2022.
Our Verdict
The Amex checking account currently earns .60% APY which is good for a checking account but does not compare to high yield savings accounts. So you may be losing $25-$50 by parking the $5,000 there instead of using a high yield savings account. Still not a bad offer for a simple account signup, especially if the Amex checking account interests you.
The personal Amex checking account never had any signup bonus at all other than this new targeted $200 offer. Separately, there’s 30,000 bonus on a similar Amex business checking product.
Hat tip to reader HL and arch and Raymond
View Comments (68)
Received this as a targeted offer on my Amex Plat. Same offer as this one https://www.doctorofcredit.com/targeted-american-express-200-checking-bonus/#comment-1806314
DPs:
- 8/03/2024 account opened
- 8/10/2024 $1k real DD
- 9/06/2024 $1k real DD
- 9/11/2024 $200 "Customer Incentive Payment" credit posted
I got targeted today for the $200 bonus offer for two direct deposits of $1000 or more, in my amex offers, no email. https://i.imgur.com/c2ONo1E.png
+1
@chucksithe I was targeted for a $250 bonus offer if I open an Amex rewards checking account by Oct 31 and direct deposit of $500 or more by December 10 when I checked my Amex offers after logging in
Got an email targeted for $200 bonus if I deposit $25K by October 12 and hold it until December 11 into a high yield savings account with them as well (4.25% apr)
I received the same offer (for the checking account) and opened the account. Curious if you have also because I'm trying to determine what might count as a qualifying deposit. I know direct payroll, but I receive payouts from Airbnb hosting -- not sure if those will look like "payroll" or just random incoming transfers.
I just got it too when I signed in $250 checking bonus for $500 direct deposit by Dec 10.
$250 targeted checking account offer: https://imgur.com/a/bJVSYNi
$200 targeted savings account offer: https://imgur.com/a/Z8x2n4I
02/21/2023 Opened
03/01/2023 Funded $5,001.00
Received email same day indicating "You’ve made eligible deposits totaling at least $5000 within 30 days of opening your American Express® Rewards Checking account."
07/18/2023 Still no $200.00 bonus deposited.
90 days from March 1 was May 30
It seems some have withdrawn funds and then received bonus. Is this a trigger to receive bonus, or just efficient interest rate management?
DP
2/06 Opened account
2/10 Deposited $5000
5/16 Withdrew $5000
6/06 $200 bonus awarded
2/6 - Opened and deposited $5,020
5/8 - Withdrew $5k
6/6 - $200 bonus
Opened and Funded: 2/14, and still no bonus yet (May 30).
opened 2/7,still no bonus
You will get your bonus in early july.
Mine arrived within a week of getting that email or 90 days plus a week for them to post the bonus
Opened 2/12, same boat.
Bonus paid out quickly for me.
11/29/22 - Deposit 5k
2/28/23 - Withdraw 5k
3/4/23 - $200 Bonus posted
It is well established that having a person Amex checking accounty precludes you from opening a Biz checking. I can confirm that this is also the case in the other direction: if you have Biz checking you cannot open a personal. Tried to do this after receiving the $200 offer but my application was cancelled, and a phone rep confirmed that it was because I have a Biz checking account. I was however able to open a personal savings account for the $350 targeted offer.
Opened 10.27.2022
Funded $5000 11.1.2022
Withdraw $5000 2.23.2022
No bonus yet.
Just chatted with Amex and confirmed that the requirement is met, and the bonus will be deposited within 8-12 weeks.