[Update 6/12/20: See updated information on how to get the $550 American Express Platinum Morgan Stanley annual fee credit in this post.]
[Update 1/9/20: Morgan Stanley has changed the requirements to keep the $45 monthly fee waived – you now need $5,000 deposited monthly and $50,000 balance.]
Earlier this year Bloomberg alluded to American Express & Morgan Stanley waiving the $450 annual fee on their co-branded Platinum card. Morgan Stanley offers something called Premier Cash Management as a way to reward customers that use Morgan Stanley for their everyday cash management needs. One of the benefits of this is receiving a $450 ‘annual engagement bonus’ if you’re also the primary cardholder and main Reserved status.
Qualification
To qualify for Premier Cash Management, you need to do the following for three months:
- Have $1,000,000 in funds with Morgan Stanley
- Bring in/keep cash:
- Have aggregate monthly direct deposits across all eligible accounts totaling at least $5,000
- Maintain $50,000 average daily balance in Sweep Money Market Funds, the Bank Deposit Program or any free cash across all accouts
- Do any two of the following:
-
Debit Card
-
 Payments on Morgan Stanley Online
-
Morgan Stanley Cards from American Express
-
Check Writing
-
Automated Clearing House (ACH) Transfers
-
Other Information
The person that passed this on also stated you’ll receive a 1099 for the $450 credit. There are also other benefits such as your AAA membership being waived, plus some other small benefits.
[Read:Â Different Flavors Of The American Express Platinum Card]
Our Verdict
Most people won’t have $1,000,000 in funds with Morgan Stanley that is necessary for Reserved client status, plus the requirements for Premier Cash Management. Obviously not worth moving such a large amount of funds and investments for a $450 credit either. I know some readers had asked about this though, so here you go even if it’s for idle curiosity sake.
