Posted by William Charles on March 20, 2019
Credit Cards

Published on March 20th, 2019 | by William Charles

23

[Targeted] American Express: 30,000 Membership Rewards Points For Sending 4 Wire Payments Of $500+

Update 3/20/19: Reader Bernard reports getting this offer now via snailmail.

The Offer

No direct link to offer, sent out via e-mail

  • American Express is offering up to 30,000 Membership Rewards points for foreign wire payments. Bonus is broken down as follows:
    • 15,000 points after you make your first foreign currency wire payment of at least $500 within 30 days of enrollment
    • An additional 15,000 points after you make three more foreign currency wire payments of at least $500 each within 90 days of enrollment
  • Fees are waived for the first six months. After that a $10 per wire fee is charged

The Fine Print

  • Same currency transactions (such as USD to USD) are not eligible for this offer.
  • If all eligibility criteria have been met, points will be credited to your Membership Rewards account within 12-15 business days after the 90 day period ends. The value of the points received may be taxable income to you.
  • Please consult your tax advisor if there are any questions about the tax treatment of points

Our Verdict

They have offered more or less the same bonus previously. This new offer is slightly better as you can get 15,000 points after your first payment rather than needing to make four payments to get the full 30,000 in one hit. Some things to keep in mind:

  • They require a lot of information regarding your business to be eligible. If you don’t have a legitimate business that regularly sends foreign payments it’s unlikely you will be approved
  • Despite no fees being charged, make sure you compare the exchange rate being offered with other exchanges

Most readers won’t be approved for an account even if they received the targeted e-mail. If you are targeted and get approved it’s almost certainly worth doing for the bonus, but long term you’ll want to compare the currency rates being offered to ensure you’re getting a good deal. $10 fee seems excessive as well.

Hat tip to reader @SoundFunnel & 



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J. Grant
J. Grant

Holy cow, how do I get targeted for this?! So easy.

Yoni
Yoni

No wire fees for first six months and Amex has usually had decent exchange rates.

This is a pretty sweet deal – may have to start a transaction and never finish to see if it generates an offer.

zo
zo

their rates are usually 3% off of the interbank rate, which is pretty awful actually. but if you are doing only 4 x $500 then it is indeed a cheap way to get MR

robertw
robertw

AMEX has been caught gouging customers on the exchange rate fees. I dont know if this is still the case but they were overcharging customers in the past

Tom
Tom

I didn’t receive an email but I had this offer on my MR homepage, under Special Promotions For You. So you can check there too.

Uday
Uday

Thank you for this info. I had this under Special Promotions too. I signed up and it said that someone will contact me in 2 business days,

NinjaX
NinjaX

yea right. wiring anything in this game, especially international, leads to shutdown.

yep
yep

This guy. This guy right here gets it.

Tread lightly with an offer like this from amex.

Frank

Lol I wonder if this had anything to do with the FX rigging settlement…. “We swear we aren’t screwing you, have some points!”

Jordan (Windbag Miles)

I wrote a bunch of posts about my experience getting this bonus last year. If you want the points, it’s worth your time to fudge your way through the application. I have a hobby business (no EIN) that brings in around $3000 per year, and I got approved, although it was a LOT of work compared to most CC or bank account apps.

Jan
Jan

Hi Jordan,

I looked on your blog for posts about this but am coming up short?

Would really love to hear about your experience as my AF is due tmw & I would pay the $175 if i knew I could do this. Similar situation to you just a ‘hobby biz’ with no documentation or EIN.

What was involved with the paper work?

Thanks in advance!!

Jan

Pat
Pat

Jan, the infinity scrolling is really tripping up my Ctrl+F, so, without also having a nice Archive/All Posts page available, here’s an alternative way to search the site:

https://duckduckgo.com/?q=amex+wire+site%3Awindbagmiles.com

tolikfox
tolikfox

If i do international trading on a brokerage account, can i have the money wired there and be approved?

Ben
Ben

Wait, so who are you all wiring foreign currency to? This is the first time I’ve received an offer like this.

Hoang Nguyen
Hoang Nguyen

I have a business in Nigeria. Wire to me then you can wire me back ;). On a serious note, it’s easy for me since I’m an expat in US and have family and friend back home.

Ben
Ben

Sounds like I need to move international 🙂 Or try out that Nigerian business of yours haha

Joe
Joe

Sounds like a FR waiting to happen

Pablo Escobar
Pablo Escobar

Do payments to the Cali cartel count?

Jake
Jake

Use HSBC, cheaper fees on wires to them.

VL
VL

Keep in mind that if you score another 30K points of any kind (except Hilton which are cointed at 0.67cpp) in non-sign up bonuses with Amex this year (i.e. referral bonuses, free will adjustments, annual fee credits, courtesy points… etc) you will get 1099 Misc for combined amount which would significantly affect the value of these points for most.

Good Luck.

Steve

This is confusing. Where do you send the wire from? The obvious guess would be your American Express card, but I doubt that’s right. I guess you open a bank account at AmEx and then send the wire from there? Or maybe you tell them an existing third party bank account’s routing & account number, and AmEX does an ACH pull from there and then sends a wire.

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