Earn $250 Bonus with New American Express Rewards Checking Account

September 13, 2023

American Express Rewards Checking $250 Bonus

American Express is offering a $250 bonus for customers who open a new American Express Rewards Checking account by October 31, 2023. A direct deposit is required for this bonus, which is available nationwide. Check out the details below.

Offer

Earn a Welcome Bonus of $250 deposited into a new American Express Rewards Checking account after you do each of the following:

Open an American Express Rewards Checking Account in your name by October 31, 2023.
Have a Qualifying Direct Deposit posted to your American Express Rewards Checking Account by December 10, 2023.

After you have completed the above, American Express will deposit your Welcome Bonus into your Rewards Check Account within 8-12 weeks.

Offer Terms

A Qualifying Direct Deposit is a single ACH transfer of $500 or more from an employer or the government for a paycheck, pension, government benefit (such as Social Security), or tax refund.
The following are not Qualifying Direct Deposits: person to person transfers (P2P), demand deposit account to demand deposit account transfers (for example, from a checking account to another checking account), and deposits or ACH transfers not from an employer or the government (for example, online transfers or bank transfers).
If we determine, in our sole discretion, that you have violated the Rewards Checking Account Terms or have engaged in abuse, misuse, or gaming in connection with your account, we may determine that you are not eligible for the Welcome Bonus. In such circumstance, we may rescind or decline to award you the Welcome Bonus.
Your Welcome Bonus may be taxable income to you and may be reported on IRS Form 1099. You are responsible for any federal or state taxes resulting from the Welcome Bonus. Please consult your tax advisor if you have questions about the tax treatment of the Welcome Bonus.
Welcome Bonus offered by American Express National Bank, Member FDIC.

Who is Eligible

You are not eligible for the Welcome Bonus if you have an existing Rewards Checking Account.
Current and prior American Express Business Checking customers are not eligible to apply at this time. This seems to be a temporary issue, so Business Checking customers could soon become eligible.
Each individual customer may only have one Rewards Checking Account.

Fees

This account has no monthly fees.
You must keep your account open and in good standing until we award you your welcome Bonus. If your account is closed for any reason prior to such time, including being closed by us, you will not be eligible for the Welcome Bonus.

Guru’s Wrap-Up

The maximum offer is now much better. You can get a $1,000 bonus (instead of $750) and the requirements are still the same. You need a $20,000 deposit and a $50,000 balance to keep the account fee free. Remember, for tax purposes you will receive a Form 1099-INT for your cash bonus. The $400 bonus might be easier for most people.

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, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.