[YMMV] American Express $250 Checking Bonus

Update 7/30/25: This offer is being emailed out again now. Not sure if there’s any public link or targeted. Direct deposit requirement is higher now at either $5,000 or $7,500. 

Update 3/11/25: Deal is back and valid until 04/15/2025

Offer at a glance

• Maximum bonus amount: $250
• Availability: Nationwide, business checking customers not eligible
• Direct deposit required: Yes, $500+
• Additional requirements: None
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: Unknow
• Household limit: None
• Expiration date: October 31, 2023

The Offer

Direct link to offer

• American Express is offering a $250 bonus when you open a new personal checking account and complete the following requirements:
  • Receive two qualifying direct deposits of $1,000 or more

The Fine Print

• 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.
• Applying for an American Express Rewards Checking account can be completed in minutes. We are currently accepting applications from Card Members with a U.S. Basic Consumer Card issued by American Express National Bank with 3+ months tenure.
• After you have completed the above, American Express will deposit your Welcome Bonus into your Rewards Check Account within 8-12 weeks.
• 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. 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. Your Welcome Bonus may not be transferred, sold, traded, or combined with other Welcome Bonuses. You are only eligible for one Welcome Bonus. Limit one Welcome Bonus per American Express Rewards Checking Account. American Express reserves the right to modify or revoke this Welcome Bonus offer at any time without notice.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees

Early Account Termination Fee

Unsure if there is any EATF

Our Verdict

We have never seen a public sign up bonus on this account (there has been many bonuses on the business checking bonuses before) but there was a targeted offer for $200. Some people might prefer to wait for a bigger bonus as we did see them increase with business checking. This deal itself is great though and we will add it to our best bank bonus page.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times