[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.
    William Charles
  • On February 15, 2022, 17:05
Tags: american expressbank bonus

View Comments (55)

  • Just got an email offering the $200 bonus for a $25K deposit into their savings account. "Offer available to email recipients who don’t have an existing American Express® Savings account. Funds must be deposited by
    October 12, 2023, and held through December 11, 2023. You can earn high interest with our
    High Yield Savings Account 4.25% APY. Get $200 credited to your Savings Account 8–12 weeks later as long
    as your account qualifies.

  • Received targeted bonus $350 with $25,000 deposit, rate is 1.75%, if they really don't pull Chex seems worthwhile, email subject "007, earn a $350 bonus with Amex Savings"

    • Yes, my wife just got this as well. She had received the $200 offer back in February but we did not open it. For $350 seems to be worthwhile. I haven't received the offer in my name.

  • Just got an email saying I earned the bonus and should see it in 8-12 weeks, so I checked and it was just deposited today.

    • So you got the bonus immediately (or shortly) after making the deposit? Or was it a while between making the deposit and getting the email?

      • There's a 3-month holding period after you make the deposit. After the 3 months was up, a few weeks passed, then I got the email and the bonus at roughly the same time.

  • I opened an AMEX HY account 8 days before this email was sent and hadn't even deposited any money yet. I called customer service to see if they would honor the offer and was quickly told no and nothing they would do about.

    Seems a bit stupid to lose a new customer when the offer was clearly designed to bring in new customers but hey that's the way they wanted to play so I closed the account.

  • I'm probably going to go with it. The easiest 25K bonus is Discover as they pay the $200 almost immediately and there is no limit how long the money needs to stay. I've done the Discover for P1, P2, & P3. I'm already maxed out on I Bonds, so this AmEx looks like a safe choice as I don't do crypto.

    I read below the credit card and bank are separate. I'm still waiting on a large referral bonus from the credit card division, but it is still within the timeframe they mentioned, so not worried yet.

    • Yes, but (and I’m sure you know this, but for those who do not know) you can only purchase $10,000 a year with the Series I saving bonds. And also you can’t cash out Series I saving bonds until at least one year (and you lose three months interest if you cash out the Series I saving bonds out before five years). So the Series I saving bonds are a bit restrictive in that way.

      This saving account bonus only requires 90 days for you to earn the bonus.

  • I only got the High-Yield saving account invite via physical mail, but that doesn't have this $200 bonus offer. :(

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