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American Express National Bank Promotions of 2024

Review Updated
Ashley Maready
Author: Ashley Maready
Ashley Maready
Ashley Maready
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Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.

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Eric McWhinnie
Fact Checked: Eric McWhinnie
Eric McWhinnie
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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

Ready for a new business checking account? American Express National Bank (Member FDIC) has you covered. Read on for a deep dive into a valuable American Express National Bank promotion.

American Express® Business Checking Bonus: Earn 30,000 Membership Rewards® points

Ratings Methodology
Rates as of Dec 20, 2024

American Express® Business Checking

Read Review
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
1.30% Rate info Circle with letter I in it. APY = annual percentage yield
Min. To Earn APY
$0
  • Competitive APY
  • No account fee
  • Earn rewards on purchases
  • New account bonus with qualifying activity
  • Online-only account
  • Foreign transaction fees
  • No cash deposits
  • Can't link to personal Amex account

Amex is, well, Amex. The bank and card issuer is known for some of the best customer service around. American Express offers an online-only business checking account with a very competitive APY (annual percentage yield) and the ability to earn Membership Rewards® points on debit card purchases.

How you earn it:

  1. Open an American Express® Business Checking (Member FDIC) account. Note that your application for this account is subject to approval.
  2. Make $5,000 or more in eligible deposits within 30 days of your account's opening. All deposits must be made and posted to your account within that 30-day period, or they won't qualify. American Express National Bank notes that deposits from another American Express® Business Checking account, deposits from interest payments, and deposits consisting of Membership Rewards points redemptions won't be eligible.
  3. Maintain an average daily balance of at least $5,000 for 60 days (starting from the day you've got $5,000 in deposits in the account).
  4. Make five qualifying transactions within 60 days of opening your account. These can be mobile deposits, mailed check deposits, and electronic or online transactions, like bill payments.
  5. Receive your bonus of 30,000 Membership Rewards points. American Express National Bank will credit the points to the Membership Rewards Program account linked to your checking account. You'll receive your points within eight to 12 weeks.

How you qualify: You won't be eligible to earn this bank bonus if you open an account for a business that currently has it or has had an American Express® Business Checking account before.

Where to open an account: Hop on over to Amex's website to open this account.

Monthly fees: The American Express® Business Checking account has no monthly maintenance fees.

Offer expires: No expiration date.

What else should you know about American Express National Bank bonuses?

Not only must you have never had an American Express® Business Checking account before, but you also must have an open account at the time of fulfillment. So if you close the bank account after making the necessary deposits and maintaining the balance required, you might not receive the Membership Rewards points. Also note that American Express National Bank won't fulfill the bonus if you are found to have misused the account or "gamed" the requirements.

Are American Express National Bank promotions worth it?

American Express® Business Checking is one of our favorite free business checking accounts. The lack of a monthly maintenance fee and 1.30% APY make it a good choice for small business owners wanting to earn interest on their cash.

Amex Membership Rewards points offer some of the best value out there. They can be redeemed for travel, gift cards, cash back, and even paying for purchases. So yes, if you can meet the requirements of the promotion, receiving 30,000 bonus Membership Rewards points linked to your checking account could be worth it for you.

Rates as of Dec 20, 2024
FEATURED OFFER

American Express® High Yield Savings

Open Account for American Express® High Yield Savings

On American Express's Secure Website.

Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

APY
3.80% Rate info Circle with letter I in it. 3.80% annual percentage yield as of December 27, 2024. Terms apply.
Min. To Earn APY
$0
  • Competitive APY
  • No account fees
  • Comfort of a well-known brand and reputation
  • Unlimited number of external transfers (up to daily transaction limits)
  • 24/7 customer support
  • FDIC insured
  • No ATM access
  • No branch access; online only
  • No cash deposits

American Express High Yield Savings may not have the highest APY on our list, but it still offers a rate well above average and requires no minimum deposit to qualify for the highest APY. It's a good fit for those who want to save at a competitive rate while avoiding withdrawal limits or minimum balance requirements.

Read Full Review

Our bank and credit union methodology

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

FAQs

  • For this bonus, you'd need to make the qualifying deposits within 30 days, then maintain your account balance at $5,000 and make five eligible transactions within 60 days. So that's 60 days already. After the 60 days have passed, it will take American Express National Bank eight to 12 weeks to award your 30,000 Membership Rewards points. So the minimum amount of time you might wait is approximately 17 weeks.

  • This bonus is only available for new account holders who've never had an American Express® Business Checking account before. So for this bonus, just once. But Amex may occasionally offer promotions for existing or former account holders, so check back here for more details.