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American Express is currently offering a lucrative deal for those looking to open a new business checking account. By fulfilling a set of requirements, customers can earn 50,000 Membership Rewards points. This offer is available to both businesses and sole proprietors, making it accessible to a wide range of individuals. The deal is set to expire on March 31, 2024.
To qualify for the 50,000 Membership Rewards points, customers must make a deposit of $5,000 or more within 20 days of opening the account. Additionally, they must maintain an average balance of $5,000 or more for 60 days and make five or more qualifying transactions within 60 days of opening the account.
Qualifying transactions are defined by American Express and include mobile deposits, making it convenient for customers to fulfill this requirement. It’s important to note that this account is fully digital, so customers won’t have the option to go into a branch and speak to someone in person. However, if you’re comfortable with online and digital banking, this could be a great fit for you.
There are several benefits to opening an American Express Business Account. Customers earn 1 Membership Rewards point for every $2 spent on the Business Debit card. Additionally, they can earn an APY on Business Deposits. The account also offers fee-free payments for domestic ACH and incoming domestic wire transfers. Outgoing domestic wire transfers incur a $20 fee, while incoming international ACH transfers are free.
Other fees that are included fee-free with this account include monthly account maintenance, account opening, additional accounts, mobile deposit capture, e-checks, outgoing and incoming returns, non-sufficient funds, stop pay, billing inquiry, duplicate credit/debit received, admin processing, statement copy, and physical checks processing.
To sign up for an Amex Business Checking Account, you’ll need to provide several documents and information. This includes your Employee Identification Number (EIN) or Taxpayer Identification Number (TIN), your Articles of Organization or a Certificate of Formation, information from a Driver’s License, State I.D., or Passport for each owner, a Social Security Number (SSN) and ID verification for any Beneficial Owner with ownership of 25% or more, a “Doing Business As” (DBA) certificate if applicable, a U.S. business address, and information about your industry, size, and the purpose of your account.
In addition to the 50,000 Membership Rewards points offer, American Express also offers a 220,000 points offer in tandem with its Amex Biz Platinum card. Customers must spend $15,000 in three months to earn 150,000 American Express Membership Rewards points. By combining this offer with the 50,000 points offer mentioned above, customers can earn an additional 20,000 bonus points.
As for whether or not this deal is worth it, it ultimately depends on your individual circumstances and financial goals. If you’re in need of a new business checking account and can fulfill the requirements, this offer can be a great way to earn a significant number of Membership Rewards points. However, it’s important to carefully review the terms and conditions to ensure that it aligns with your needs.
In conclusion, American Express is currently offering a generous deal for those looking to open a new business checking account. By meeting a set of requirements, customers can earn 50,000 Membership Rewards points. This offer is available to both businesses and sole proprietors and expires on March 31, 2024. It’s important to carefully review the terms and conditions and consider your individual circumstances before taking advantage of this offer.