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Sweepster
Sweepster (@guest_1459533)
October 6, 2022 13:08

just got email: Open an American Express® Rewards Checking account and receive a $200 deposit bonus after you complete the steps listed below.* Deposit $5,000 within 30 days and keep it there for 90 Days. Offer expires 11/4/22.

Sweepster
Sweepster (@guest_1459534)
October 6, 2022 13:09

this is not a business account BTW

Sweepster
Sweepster (@guest_1459588)
October 6, 2022 14:46

Opened account same day online, linked another account, and ACHed in 5K. Took minutes. Easy as pie and no DD nonsense.

RiskandReward
RiskandReward (@guest_1345321)
March 9, 2022 17:29

Decent offer for the sign up bonus and interest checking, but the debit card (half MR point per dollar) is weak compared to BBP (2 MR points per dollar) with no annual fee.

Bug
Bug (@guest_1345214)
March 9, 2022 14:21

I know it is a $300 bonus & a great interest rate, but IMO Amex still does not have their act together in business banking. Disclosures & service has been poor to date. Only took 3 phone calls & 6 emails to close Kabbage account when I refused to provide user name & password to business checking when opening. This was 6 months ago & still not clear if my account was closed. Which genius thought using Yodlee (or Plaid) was a good idea for business account verification? You have zero protection (if something bad happens to your account) from Amex or your bank on a business account, if you provided you user name & password to anyone, under any circumstance. This is not great idea on a personal account either, but at least you have some legal protections as an individual

Ryan h
Ryan h (@guest_1345653)
March 10, 2022 12:10

What’s your suggestion on a good business banking account then?

askmrlee
askmrlee (@guest_1345674)
March 10, 2022 12:43

Kabbage and Amex Biz Checking are run by different banks and different customer service teams. Yes they are both Amex products, but Kabbage is Green Dot Bank, Amex Biz Checking is Amex Bank. Amex Biz Checking is night and day better than Kabbage. In my experience, in October 2021 on the first day that you could open an account, I asked a question through the chat and was given an answer. About 2 hours later, a get a phone call from a US based supervisor with an apology that the chat agent gave me the incorrect response.

Just a Note
Just a Note (@guest_1345754)
March 10, 2022 15:38

I wish I could be done with my Kabbage account. 9 months in and I currently cannot log in and best of all I still get notices that I have monthly statements. Each month I stupidly try and close it again and waste another hour of my life. At least it seems I finally have managed to get the entire balance out of the account when they sent a paper check for a few cents of interest back around the end of the year. Merry Christmas to me.

P
P (@guest_1345208)
March 9, 2022 14:05

1 cent per 1 MR redemption would be nice too, if only.

Tony
Tony (@guest_1345197)
March 9, 2022 13:39

Is Amex debit (and discover debit) work same way where Visa/MC debit cards work?

askmrlee
askmrlee (@guest_1345676)
March 10, 2022 12:45

Yes! – The first time I used my Amex Biz Checking debit card it I was immediately prompted to enter a PIN and I couldn’t bypass the PIN. Other times it went through like a credit card purchase – no pin needed. It may have also been because that was my first purchase.

Olivia
Olivia (@guest_1345180)
March 9, 2022 12:56

Would it be wise to close the other AmEx business checking now to qualify for this?

Haley
Haley (@guest_1345597)
March 10, 2022 10:08

Also wondering about this

askmrlee
askmrlee (@guest_1345677)
March 10, 2022 12:46

No, I would wait. Back in October 2021 in the original press release, Amex announced that the Biz Checking would earn Membership Rewards sometime in 2022.

5150d
5150d (@guest_1345178)
March 9, 2022 12:53

They will have to get their act together before they do this.
1. No alerts on the Biz Chkg.
2. Not able to put a beneficiary or POD on the Biz Chkg.
3. Not able to download to Quicken on the Biz Chkg.

Tony
Tony (@guest_1345196)
March 9, 2022 13:38

Fix transactions description too.

TKB
TKB (@guest_1345201)
March 9, 2022 13:49

Not having a beneficiary on the business makes sense. It was explained to me once that since businesses don’t “die” there isn’t anything to pass along they just get new owners who aquire the assets. Are there any business accounts who allow POD’s or Beneficiaries?

Jack
Jack (@guest_1345220)
March 9, 2022 14:32

Agree with TKB, no business accounts let you do POD. Thais why I hate minimum balances. I keep a signed check to my spouse for the minimum balance in the safe for that reason.

Eric
Eric (@guest_1345139)
March 9, 2022 11:56

You’ll still have to pay tax on points earned as interest. For this reason alone, it doesn’t seem like a good deal.

L
L (@guest_1345222)
March 9, 2022 14:34

Not sure how much 20k is, but you have to pay taxes on regular bonuses too. If 20k is equivalent to like 200 bucks, it sounds good to me.

jnjustice
jnjustice (@guest_1345104)
March 9, 2022 11:03

I hope they’d just convert the Kabbage checking to this

Kenny Shaw
Kenny Shaw (@guest_1345125)
March 9, 2022 11:37

They probably won’t since Kabbage is different. But think big, we want another SUB

Dima
Dima (@guest_1345181)
March 9, 2022 12:56

Why? Collecting bonuses for both Kabbage & AmEx is (was?) a fairly low-hanging $600.

JakeFromStatefarm
JakeFromStatefarm (@guest_1345188)
March 9, 2022 13:11

That’s a free 30 mins in the champagne with Kristal with a “K” 😉

L
L (@guest_1345207)
March 9, 2022 14:03

How much for Cristal with a “C”?

askmrlee
askmrlee (@guest_1345679)
March 10, 2022 12:48

Don’t count on it. Kabbage is run by Green Dot Bank and offers a MasterCard business debit card. Amex Biz Checking is run by Amex Bank wtih an Amex Debit Card.