American Express® $250 Checking Account Bonus

Get a $250 bonus when you open an American Express Rewards Checking account and receive a qualifying direct deposit of $500 or more. Full details of this Amex consumer checking bonus below.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, U.S. Bank, and Axos Bank.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

American Express Rewards Checking $250 Bonus

Earn a $250 bonus when you open an American Express Rewards Checking account and receive a qualifying deposit of $500 or more.

At this time, American Express is only accepting applications from Card Members with a U.S. Basic Consumer Card issued by American Express National Bank with 3+ months tenure. Current and prior American Express Business Checking customers are also not eligible to apply at this time.

Bonus Step-by-Step Directions:

  1. Apply for an Amex Rewards Checking account by October 31, 2023 using this link.
  2. Complete a qualifying direct deposit of at least $500 by December 10, 2023.
  3. Receive a $250 welcome bonus into your checking account within 8-12 weeks.
American Express Rewards Checking $250 bonus
(Image from American Express)

Offer Details:

Availability: Nationwide
Expiration: 10/31/23
Household Limit: None
Direct Deposit Required: Yes, $500
Soft/Hard Pull: Soft
Early Account Termination Fee: No

Offer Terms & Conditions

  • 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).
  • You are not eligible for the Welcome Bonus if you have an existing Rewards Checking Account.
  • Each individual customer may only have one Rewards Checking Account.
  • 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.
  • 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.

For full terms and conditions regarding this welcome bonus, please see PDF file.

American Express Rewards Checking Overview

American Express Rewards Checking is a personal checking account for both building your balance and earning rewards. It has no monthly fees, provides a 1.00% APY (10x higher than the national rate of checking accounts), and earns 1 Membership Rewards point for every $2 of eligible debit card purchases.

The checking account has many features, with benefits and protections that include:

  • Mobile Check Deposits: The Amex App makes mobile deposits simple – just take pictures with your smartphone.
  • Digital Transfers: Transfer money when you need to from an eligible account that’s connected, including the American Express High Yield Savings account.
  • Digital Wallet: Add your American Express Debit Card to your digital wallet to make fast and convenient payments in store and online.
  • Zero Liability Fraud Protection: You won’t be held responsible for fraudulent charges on your Debit Card that you report promptly.
  • Purchase Protection: Purchase Protection can help protect Covered Purchases made on your Eligible Card against accidental damage or theft, for up to 90 days from the Covered Purchase date. The benefit requires no enrollment and is provided at no additional charge.
  • ATM: With over 37,000 MoneyPass ATMs nationwide, you can enjoy fee-free withdrawals at locations near you. Use this ATM locator to find MoneyPass ATMs in your neighborhood.

You can also access your account information seamlessly with your other American Express accounts (checking, savings, and card accounts) using the Amex app or online.

The Bottom Line

To my knowledge, this is the first time American Express has offered a bonus for a consumer checking account, but there was a $200 offer in the past that was targeted to select Amex cardholders. Amex also offers bonuses on their consumer savings account and business checking accounts.

The line that states only “Card Members with a U.S. Basic Consumer Card issued by American Express National Bank” are eligible for the offer is a bit confusing, but it basically says you’re good to go if you have a personal Amex card based in the United States.

If you’re unsure, just click the offer link and it will ask you to login to your American Express account. You should see the offer pop up immediately after signing in.

Earning $250 for a $500 direct deposit is a 50% “return on investment”. I consider this a great deal and will add it to my best bank promotions page.

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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9 months ago

Does anyone know what alternative transfers will code as a DD for amex?

9 months ago
Reply to  mike

It’s too new of an offer to know if a non-DD will work as a DD for this.

Both myself and P2 (wife) were instantly approved last night. Very simple opening process, took all of 30 seconds. Funded with $10 from real checking account, already shows up today, very fast.