American Express High Yield Savings Account, $350 Bonus for Select Cardholders
Update: This account now earns 3.50% APY.
American Express is targeting some existing cardholders with an offer to earn a $350 bonus when opening a new American Express High Yield Savings Account. This account also earns a 3.30% APY, which makes this offer much better. You must have received an email in order to qualify. Let’s check out the details below.
Offer
Earn a $350Cash Bonus when you deposit $25,000 or more into a new American Express High Yield Savings Account. This is the link to the account for reference, but the bonus is not shown on that page.
Offer available to email recipients who don’t have an existing American Express Savings account. Must deposit funds by March 3, 2023 and hold them through May 2, 2023.
Offer Details
- This offer is only available to customers new to American Express Savings.
- Offer is not available to:
- non-American Express Card Members
- American Express Card Members who did not receive this email from American Express directly, or
- American Express Card Members who have been named as a primary or joint holder on an active American Express High Yield Savings Account as of the date on which the email was sent.
- A cash bonus amount of $350 will be credited to your new account after you, as the primary account holder, deposit a total of $25,000 or more of new money (not transferred from an existing American Express Savings, checking or debit account) into a new American Express High Yield Savings Account by 11:59pm ET on March 3, 2023. A “new” account for this purpose is an account that is opened on or after the date on which this email was sent by American Express. High Yield Savings Accounts that were active prior to the date on which this email was sent by American Express are not eligible for this offer.
- You can reach the Threshold Amount through one or more deposits, provided that the total Threshold Amount is reached and posted to your account by 11:59pm ET on March 3, 2023.
- You will receive the bonus in your account within 8-12 weeks.
- If funds in the account drop below the Threshold Amount at any point during the promotion period, the account will no longer be eligible for the promotion.
Guru’s Wrap-up
This is a good offer for those who are targeted and have the $25,000 required for the bonus. You need to deposit the money into your new American Express High Yield Savings Account and keep it there for two months. It works out to a total of more than 11% APY for those two months, including the 3.30% offered by Amex. That’s much better than what you can currently get with most banks.
Bank bonuses are a great way to earn some extra income, often from the comfort of your home. You can take a look at my bank bonus results for 2022 where I made over $6,000. If this bonus is not for you, or if you were not targeted, then you can check the full list of available bank bonuses here. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.
