Amex Business Checking Account With 60K Points

Amex Business Checking Account With 60K Points

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For a limited time, you can earn 60,000 Amex Membership Rewards points for opening a business checking account that potentially doesn’t have any fees. This seems like a pretty great opportunity — I’ve opened an account, and was pleasantly surprised by how easy it was, so I’ll share my experience below.

I wanted to post a reminder of this offer, as it will be expiring on Tuesday, January 3, 2023, so this is your last chance to open an account and earn the bonus.

American Express Business Checking basics

American Express Business Checking is Amex’s business checking account concept. Here are some the basics of how this works:

  • 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
Amex Business Checking basics

Ultimately if you’re already in the American Express ecosystem, then this is a pretty competitive business checking account, especially if you like to self-service your account. Obviously Amex isn’t a traditional bank and doesn’t have branches, but for many of us that’s not an issue.

You do need to have a business to open one of these accounts (as you may have guessed based on the name), though sole proprietorships do qualify.

Amex Business Checking basics

Earn 60K points with American Express Business Checking

There’s a fantastic incentive to apply for an Amex Business Checking account right now. If you apply by Tuesday, January 3, 2023, you can earn 60,000 Amex Membership Rewards points. In order to earn this bonus:

  • 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 wondering about what would be considered a qualifying transaction:

  • 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

Those requirements seem easy enough to complete. To be clear, debit card transactions don’t count toward the requirement, though electronic transfers from other accounts do count toward this, and should be an easy option.

Earn up to 60K Amex points with an account

My experience opening an Amex Business Checking account

This opportunity sounded too good to pass up, so I’ve opened an Amex Business Checking account for my business, and figured I’d report back on my experience. I was very pleasantly surprised by how easy the whole process was.

If you have an existing Amex account, most of your information will be pre-populated during the application process. Furthermore, you can link any existing bank accounts Amex has on file, so you don’t even have to enter that information manually.

To briefly go through the application process, first you’ll want to log-in with your existing Amex credentials.

Amex Business Checking account application

You’ll then be able to start your application by selecting which Amex account you want to “pull” information from for your application. I chose one of my business cards.

Amex Business Checking account application

A lot of the information is already pre-populated, but you do have to enter things like your social security number, etc.

Amex Business Checking account application

Then you have to answer a series of pretty straightforward questions about your business.

Amex Business Checking account application
Amex Business Checking account application

At that point I could submit my application, and I was instantly approved — woot! Note that some people are reporting having to upload business documents, but that wasn’t something I was asked for during my application process.

Amex Business Checking account approval

I could then link my bank account. This was easy, since I could just link the business checking account already associated with my Amex business cards.

Amex Business Checking linking account

I have to say, I really like the dashboard for the Amex Business Checking account. It’s nice how it’s integrated into your Amex account with all of your cards, and it’s easy to use. There’s even a tracker on your dashboard showing how you’re doing with your activities toward earning the welcome bonus.

Amex Business Checking account dashboard

I’ve now also completed the 10 transactions required to unlock the bonus. How did I do that? Well, I had initially funded my account with $5,000, which is the average balance amount you have to keep in your account for 60 days. However, I then decided to simply make nine more transfers to my account, for $1,000 each.

I could even make multiple transfers per day (they just have to be at least five minutes apart if they’re duplicate amounts). I figured this was a good idea anyway, since the interest rate here is higher than for my standard Chase business checking account.

Amex Business Checking account transactions

As soon as the 10 transactions showed in my Amex account, the dashboard updated to reflect that I’ve completed two of the three tasks required to earn the bonus. Now I just have to keep an average balance of at least $5,000 in the account for 60 days.

Amex Business Checking account dashboard

Now that I’ve opened this account, I actually think I might really like this Amex Business Checking concept, and could see myself keeping around this account in the long run. We’ll see.

Bottom line

American Express Business Checking offers a solid and affordable business checking account option. At the moment you can earn 60,000 Membership Rewards points if you open an account and complete qualifying activity.

I went through the process of opening an Amex Business Checking account, and completing the 10 required transactions. I found the whole experience to be easy, and quite like the account interface as well. I could see myself keeping this account long term.

Anyone else plan on opening an Amex Business Checking account?

Conversations (43)
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  1. Sara Guest

    I am a 20+ year American Express loyalist and I just cancelled my business checking account with them. If you sign up for any kind of banking product with them, you will be forced to do two step verification EVERY TIME you log in to any product of theirs - personal credit cards, business credit cards, etc. There is no way around this. With multiple credit cards and multiple users this is maddening. Every time...

    I am a 20+ year American Express loyalist and I just cancelled my business checking account with them. If you sign up for any kind of banking product with them, you will be forced to do two step verification EVERY TIME you log in to any product of theirs - personal credit cards, business credit cards, etc. There is no way around this. With multiple credit cards and multiple users this is maddening. Every time I need to do anything on the mobile app or website, two step verification is required, which adds a ton of time. I've spoke to multiple people at Amex about this and appealed it and there is no way around it. The rep told me they have had many business owners cancel accounts due to this.

  2. iamhere Guest

    Possibly only useful if you have a new company. Otherwise probably not so useful. Most people won't take the time and effort to open the account just for the points if they don't plan to routinely use the account.

  3. Roundtree New Member

    Thanks for flagging this Ben. Sole proprietor here with 2 AmEx business cards and a SS number rather than EIN. Used the "other" category and explained the business in the comments as others have suggested. Instant approval with no additional documentation required.

  4. John Guest

    If you've had one of these accounts before can you open up a new one and receive the bonus? I closed a few months ago.

  5. DLPTATL Guest

    Question for the group - My only Membership Rewards card is a personal one (Gold personal). Any issue transferring from AmEx business account to personal? I have a Delta Gold biz card, but AmEx required me to have a separate log-in for that account.

    1. DLPTATL Guest

      I may have answered my own question. I went ahead and opened the account through my AmEx Delta Gold biz card log-in. Was approved... Now on that dashboard is shows my Membership Rewards balance from my personal Gold card.

      Hopefully this info is useful to others.

  6. Stan P Guest

    “The debit feature offers the ability to earn one Membership Rewards point for every $2 of eligible debit purchases“

    Which debit purchases are eligible ?

  7. Steven M Guest

    Ben thanks for this post, we opened the account and all is going just as you outlined.

    Do take note, small business owners / self-employed: transfers do not clear quickly. Amex holds the money in order to make money. Expect to wait days for a normal transfer to clear. Meaning if you have low cash flow this isn't the account for you!

  8. Ryan Guest

    Jesus. Any reason you, Boarding Area or Facebook just decided to spam the crap out of Facebook with every article you have written over the last year? 30+ posts all in a row on my feed. Annoying.

    1. Ben Schlappig OMAAT

      @ Ryan -- Yes, I apologize, that was a mistake. I updated some of the review guides to reflect that it's a new year (many reflected 2022 perks, etc.). The intent was to update them in the background without having them go to the front page of the blog, as that's what I usually do. For whatever reason the posts seemed to automatically be sent to BoardingArea social media, though (which I don't have access...

      @ Ryan -- Yes, I apologize, that was a mistake. I updated some of the review guides to reflect that it's a new year (many reflected 2022 perks, etc.). The intent was to update them in the background without having them go to the front page of the blog, as that's what I usually do. For whatever reason the posts seemed to automatically be sent to BoardingArea social media, though (which I don't have access to, in order to delete). My apologies, as that wasn't the intent.

  9. Luis Guest

    Any dps on getting denied for the following message: We are not currently offering accounts to companies within your industry.

    I applied as a sole proprietor, put my SSN instead of EIN and choose other for business type. I resell items on eBay and other platforms.

    I’ve seen others get approved for similar business types, so not sure what I did wrong.

  10. Erik Guest

    It looks like there's a limit on how many points you can redeem in one transaction of $100k worth.

  11. Kevin M Guest

    I was able to skip the need for uploading docs by selecting "Other" as my business type, then fully explaining it in the field below. Instant approval for a sole prop eBay business.

    To meet the requirements, I'm doing 10 transactions of $501, $502 etc. spaced an hour apart from a previously linked checking account.

    1. doesun Guest

      The 'Other' business type seems no longer available.

    2. Roundtree New Member

      I still see it there.

  12. Daniel Guest

    Thank you. Although I generally visit other travel blogs, they have never mentioned this? Will be back to visit your blog. Again thank you for the info!

  13. Winelover Guest

    WOuld the debit feauture work to pay taxes with no fee since its a debit card?

  14. Pleikupho Guest

    Thanks for writing about this deal. I received the 30k offer a while back but now that it increased to 60k, i just applied and got approved.

  15. Hailey Guest

    I opened one for my real estate business LLC, but I also have an LLC for my rental property and property management business... wondering if you know how I could open a second one? Every time I go to apply it just takes me to the account for my real estate LLC checking I created. Wondering if anyone knows a way to get two checking's for two totally different businesses?

    1. Ngk Guest

      Amex told me in a chat that you can “unlink” a credit card from your account and then use the unlinked card to apply for the 60k again.

  16. Maybe Guest

    Looks like iPhone-only for mobile deposits. What a shame. Not for me now. Pure lazy hubris for Amex to not code an Android app to do deposits since they do have an Android app for consumers. Maybe Tim Cook has a new lover who works at Amex business banking. Or maybe Amex supports iPhone factory Foxconn slavery while hypocritically opposing the history of slavery in the USA. Either way, I will pass.

    1. Stuart Guest

      What an obnoxious and stupid thing to say about Tim Cook.

    2. Harry Guest

      Maybe Happy Hour early is in order for you...geez!!

  17. Bob Guest

    I also got as far as them asking for business documents. Am a sole proprietor with only 1 rental house. Anyone have a suggestion on how to get past this point?

    1. Harry Guest

      Maybe a redacted schedule C or E (if you are counting the rental income...catch 22)? If you have not registered your business in your city/county, I can't think of some paper trail showing you are a business? Assume no FID, but using SSN? Did you state anything for DBA? Otherwise put yourself in their position, how do they know you are business, but rather an individual chasing 60K points?

    2. Harry Guest

      Oh, regardless, Good Luck!

    3. tjp74 Guest

      so what's the deal with some not getting asked to upload documents? anyone figured out? I picked sole proprietor and it wouldn't let me submit the app without uploading the doc.

    4. Jonathan Guest

      In the next drop-down after business type (where you selected sole prop), select "other" at the very end of the list instead of choosing a specific category. That seems to remove the requirement to upload documentation.

    5. Harry Guest

      Do you have a business federal ID number or use your SSN? If you use your SSN, again as I wrote above, what does Amex have to go by that you are really a business other than some kind of doc(s)? Some registration or something otherwise again as above, can you blame them (Amex) for wanting proof?

      I remember the same with the Brex deals a year or so ago? Brex required some proof for sole proprietors. Ask Lucky as he was the link to those deals.

  18. Paul Nagy Guest

    I have multiple AMEX cards including business cards but during the application it is asking me for business documents and will not let me proceed without uploading them. Which is odd because my business is a Sole Proprietorship.

    1. Harry Guest

      Not odd at all. What differentiates you personally from your business using your SSN? With a business tax ID is just that and not you personally. Now some posters I've read have had no issues with sole proprietorship. Go figure.

  19. JB Guest

    Do you need to have a business to open an account? Or can anyone open one?

  20. Alex Z Guest

    I just confirmed through Amex Chat with the Business Checking rep that you can apply for the Business Checking account as a Sole Proprietor and you can use your social

  21. Harry Guest

    I started the app several weeks back and baled. So I go back and Amex stated do I want to finish? Sure. Applied and no issues at all including no docs. Now my business is a corporation, been around for 30+ years and has a DUNNS number. I would think that makes an approval a lot easier.

  22. ktc Guest

    " could potentially transfer them to airline & hotel partners" -- this will be the deciding factor for many, how certain are we on this?

  23. DM Guest

    @Ben - I jumped at 30k offer a couple of weeks ago, and like others have mentioned here, AMEX wouldn't match my offer to this offer.

    Re: transactions - I have already met the 10 transaction requirements and it's pretty simple. Any non-purchase transaction should work here. In my case, I had 5 incoming ACH (3 from Paypal to fund the account for 5k, 1 from another checking account, and one international money transfer), and...

    @Ben - I jumped at 30k offer a couple of weeks ago, and like others have mentioned here, AMEX wouldn't match my offer to this offer.

    Re: transactions - I have already met the 10 transaction requirements and it's pretty simple. Any non-purchase transaction should work here. In my case, I had 5 incoming ACH (3 from Paypal to fund the account for 5k, 1 from another checking account, and one international money transfer), and 5 CC bill payments (3 of them for the same card since I was running a couple of test payments after adding this checking account to my CC profile). All of them have counted towards the 10 transaction requirement. AMEX has a nice little tracker on the Business Checking dashboard that shows what criteria have been met, and what are pending, as well as average daily balance (updated daily).

    1. DM Guest

      One more tip for Sole Proprietors who may not have a registered business. On the application page, AMEX requires you to upload Business license document. I didn't have one, but I uploaded a copy of my international passport, and that seems to have worked. No questions asked and my application for business checking was approved within minutes. FWIW, I have had 3 business credit cards with AMEX this year, so perhaps that had some role to play here.

    2. Bob Guest

      I just uploaded a scan of my driver's license, and got approved immediately.

    3. Zebraitis Guest

      Amex will NEVER match a newer deal. Even if you just took advantage of a previous offer last week. Even if you threaten to close the card or account.

      This is particularly galling for me, as a platinum card holder since 1988, I have never received a personal platinum card bonus of any type.

      I applied for my Biz Plat when 125k bonus was available, only to find in less than 10 days a 250k...

      Amex will NEVER match a newer deal. Even if you just took advantage of a previous offer last week. Even if you threaten to close the card or account.

      This is particularly galling for me, as a platinum card holder since 1988, I have never received a personal platinum card bonus of any type.

      I applied for my Biz Plat when 125k bonus was available, only to find in less than 10 days a 250k bonus became available.

      Called, escalated, a supervisor said to me (paraphrased): we spent the point to get you, we got you, why should we give you more?

      From a business rule perspective, makes absolutely sense

      However, it PMRTFO.

  24. Alonzo Diamond

    Received an offer in the mail for 30k. This is def much better and the push I needed to open it. Thanks!

  25. DG Guest

    Just opened one for the 30k offer two weeks ago. Asked about being matched to current offer. No luck.

    1. IP Guest

      Same here. Very frustrating - would have waited a few weeks if I had known this was coming.

  26. Robert Guest

    This appears to be an easy 60K MR. I am certainly going to open an account.

Featured Comments Most helpful comments ( as chosen by the OMAAT community ).

The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.

Stuart Guest

What an obnoxious and stupid thing to say about Tim Cook.

2
Steven M Guest

Ben thanks for this post, we opened the account and all is going just as you outlined. Do take note, small business owners / self-employed: transfers do not clear quickly. Amex holds the money in order to make money. Expect to wait days for a normal transfer to clear. Meaning if you have low cash flow this isn't the account for you!

1
Kevin M Guest

I was able to skip the need for uploading docs by selecting "Other" as my business type, then fully explaining it in the field below. Instant approval for a sole prop eBay business. To meet the requirements, I'm doing 10 transactions of $501, $502 etc. spaced an hour apart from a previously linked checking account.

1
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