Amex Business Checking Account With 60K Points

If you open a business checking account that doesn't have any fees, you can earn 60,000 Amex Membership rewards points. I was pleasantly surprised by how easy it was to open an account, so I will share my experience below.

This is the last chance to open an account and earn the bonus, as the offer will end on January 3, 2023.

American Express Business Checking basics

Amex has a business checking account idea. The basics of how this works are listed here.

• The checking account offers a 1.3% APY on balances of up to $500K
• The debit feature offers the ability to earn one Membership Rewards point for every $2 of eligible debit purchases
• Membership Rewards points can only be redeemed for deposits into your checking account, unless you have another card earning Membership Rewards points, in which case they could be redeemed the same way as there (meaning you could transfer them to airline & hotel partners)
• This is integrated into the Amex app, so that you can manage this checking account along with all of your other Amex accounts
• There are no monthly maintenance fees for keeping an account, and no domestic ACH fees, domestic incoming wire fees, or international incoming ACH fees
• You can get fee-free ATM withdrawals at 37,000 MoneyPass ATM locations nationwide

This is a good business checking account if you want to self-service your account. Amex isn't a traditional bank and doesn't have branches, but for a lot of us that's not an issue.

You do need to have a business in order to open one of these accounts.

Earn 60K points with American Express Business Checking

Right now, there is a great incentive to apply for a business checking account. You can earn 60,000 Amex Membership rewards points if you apply by January 3. This bonus needs to be earned in order.

• You need to make eligible deposits of $5,000 or more within 20 days of opening your account
• You need to maintain an average account balance of $5,000 for 60 days
• You need to make 10 or more qualifying transactions within 60 days of account opening

For those who don't know what a qualification transaction is.

• Qualifying transactions are mobile deposits, and electronic transactions, including ACH, wire, and bill payments
• Business debit card transactions and deposits using the Redeem for Deposits features are not qualifying transactions

It seems like those requirements are easy to complete. Debit card transactions don't count towards the requirement, but electronic transfers from other accounts do, and should be easy to do.

My experience opening an Amex Business Checking account

I opened an Amex Business Checking account for my business so I could report back on my experience. The process was very easy for me.

Most of your information will be pre-populated if you already have an Amex account. You don't have to enter that information manually if you link any existing bank accounts.

First, you need to log-in with your existing Amex credentials.

You can begin your application by selecting which account you want to pull information from. One of my business cards was chosen by me.

A lot of the information is pre-populated, but you have to enter some things.

You have to answer a bunch of questions about your business.

I was approved immediately after I submitted my application. It was not something I was asked for during my application process.

My bank account could be linked. It was easy to link the business checking account with my Amex business cards.

I like the dashboard of the business checking account. It's easy to use and it's integrated into your Amex account. There is a tracker on your dashboard that shows how you are doing in order to earn the welcome bonus.

I have completed the 10 transactions needed to get the bonus. I don't know how I did that. I funded my account with $5,000, which is the average balance you have to keep in your account for 60 days. Nine more transfers were made to my account for $1,000 each.

If they're duplicate amounts, I can make multiple transfers per day. Since the interest rate here is higher than for my standard Chase business checking account, I thought this was a great idea.

The dashboard reflected that I had completed two of the three tasks required to earn the bonus after the 10 transactions showed in my Amex account. For 60 days, I have to keep an average balance of $5,000 in the account.

I think I might like this Amex Business Checking concept, and could see myself keeping this account in the future. It will be seen.

Bottom line

American Express Business Checking is a great option for businesses. Membership rewards points can be earned if you open an account and complete certain activities.

I went through the process of opening a business checking account. The experience was easy and I liked the account interface. I would keep this account for a long time.

Is anyone planning on opening a business checking account?