[Targeted] American Express High Yield Savings Account $200 Bonus

Offer at a glance

• Maximum bonus amount: $200
• Availability: Nationwide but targeted
• Deposit required: $25,000 for 90 days
• Hard/soft pull: Soft pull AFAIK, but not confirmed
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: None
• Early account termination fee:
• Household limit: None listed
• Expiration date: March 7, 2022

The Offer

Targeted offer sent out via e-mail with subject line ‘<name>, earn a $200 bonus with Amex Savings’

• American Express is offering some existing cardholders $200 when you deposit $25,000 or more into an American Express Personal Savings account by March 7, 2022 and maintain that balance at least until June 5, 2022

The Fine Print

• This offer is only available to customers new to American Express Savings. This Offer is not available to (i) non-American Express Card Members, (ii) American Express Card Members who did not receive this email from American Express directly, or (iii) American Express Card Members who have been named as a primary or joint holder on an active American Express High Yield Savings Account as of the date on which the email was sent (2/15/2022).
• You, as the direct recipient of this email can only be eligible for 1 offer. The new High Yield Savings Account must be opened using the email address that directly received this email, and the recipient of this email must be named as the primary holder when opening the new account. In the event that more than one person shares the email address to which this email was delivered, the individual named in the body of the email will be treated as the recipient eligible for this offer. In the event multiple accounts are opened, the High Yield Savings Account with the highest balance will be eligible.
• A cash bonus amount of $200 will be credited to your new 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, checking or debit account) into a new American Express High Yield Savings Account by 11:59pm ET on March 7, 2022. A “new” account for this purpose is an account that is opened on or after the date on which this email was sent by American Express. High Yield Savings Accounts that were active prior to the date on which this email was sent by American Express are not eligible for this offer.

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about

Early Account Termination Fee

I’m unsure if there is any early account termination fee.

Our Verdict

Previously American Express has offered a 25,000 MR points. That’s obviously a better bonus, but these bonuses are always targeted so might as well take what you can get. 0.5% APY is competitive to other basic high yield accounts as well.