American Express has a bonus for up to 30,000 Membership Rewards points for sending wire transfers. Here’s how that bonus works:
- Apply for FX International Payments and:
- Earn 15,000 points on your Membership Rewards® eligible American Express® Card after you make your first FX payment of at least $500 within 30 days of enrollment.
- Earn an additional 15,000 points after you make 3 additional FX payments each of at least $500 within 90 days of your first foreign wire payment.
- American Express will waive its transaction fee on foreign currency wire payments for 6 months
- One (1) Membership Rewards® point will be awarded for every USD $30 your business wires internationally using the FX International Payments (“FXIP”) service.
- The maximum award per transaction is 4,000 points. Not valid for same currency wire transactions (e.g. US Dollar to US Dollar).
- For a designated Card Member to be eligible to receive Membership Rewards points, your business must first enroll in the FXIP service.
- Your business must also complete and submit to us a form designating an American Express Card Member who is already enrolled in the individual Membership Rewards program to whom points will be credited.
- Points will be credited to the Card Member’s Membership Rewards program account or Corporate Membership Rewards account, if applicable, within 10-12 weeks after the eligible transaction is completed.
- American Express will waive its transaction fee on foreign currency wire payments for 6 months, and charge a transaction fee of $10 after the six month waiver period ends.
This is a good bonus, but not for everyone. You need to apply and be approved in order to qualify for the bonus. And it’s not the easiest process. Read “My epic saga of getting set up with Amex’s foreign wire service” for more detailed info on how that works.