Increased Welcome Offer for Amex Business Checking Account [70K Points]

American Express has been on a tear over the last year, introducing new products for both its consumer and small business customers.

You can earn 70,000 Membership Rewards points with a new account — let’s take a look at the details.

New Account Offer Details

In order to earn the increased bonus of 70,000 Amex Membership Rewards points, customers will need to meet specific criteria when applying for the American Express^® Business Checking account:

• Offer valid through September 30, 2024
• Deposit $15,000 within 30 days of opening your first account
• Maintain the $15,000 balance for 60 days
• Complete 5 qualifying transactions within 60 days

American Express Business Checking Benefits

This accounts offers a 1.3% APY on up to $500,000 per year. Other benefits of the account include:

• Fee-free withdrawals at MoneyPass ATMs
• Earn 1 Amex Membership Rewards point for every $2 spent
• No monthly maintenance fees

We value Amex points at 2.2 cents each, meaning this 70,000-point bonus is worth ~$1,540. Once earned, you can either choose to redeem points for cash or for travel, gift cards, and transfers to partners.

If you’ve got The Business Platinum Card^® from American Express, you’ll be able to cash out those points at a rate of 1.0 cents per point. If not, the redemption rate is 0.8 cents each. Either way, this is a pretty poor redemption value and reflects less than half of what you should be getting for your points.

However, not everyone will see the 70,000-point offer. These offers are targeted, and your offer may be lower — maybe much lower. Some offers provide just 30,000 points after making $5,000 in deposits. You can check your offer here.

Redeeming Amex Membership Rewards Points

Amex Membership Rewards points can be used in a variety of ways, but you’ll find the best value to be had is by transferring them over to the Amex airline partners. Check out our guide to the best ways to redeem Amex Membership Rewards points.

Final Thoughts

If you’re a small business owner looking for a new business checking account, Amex wants to speak to you. With minimal qualifying activities, you’ll be able to score a 70,000-point welcome bonus, though be aware that the account is subject to approval.

The information regarding the American Express^® Business Checking was independently collected by Upgraded Points and not provided nor reviewed by the issuer.