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 11/7/23: You no longer need to be an American Express credit cardholder to be eligible for this account.
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: