American Express Bank does offer cash bonuses on checking accounts, but the offer changes regularly and is not always available

American Express Bank has run sign-up bonuses on their checking products in the past, typically offering cash rewards when you meet specific requirements like depositing a minimum amount or setting up direct deposit within a set timeframe. Whether a bonus is currently available depends on which account you're looking at and when you check — the bank rotates offers and sometimes runs periods with no bonus at all.

The most common bonus structure works like this: you open the account, complete a required action (usually a direct deposit or a minimum deposit), and the cash appears in your account within a few weeks. The amount varies, but has historically ranged from $100 to $300 depending on the specific account and offer period.

Key Takeaways

  • American Express Bank periodically offers cash bonuses on checking accounts, but these offers are not permanent and change throughout the year.
  • Bonuses typically require you to complete an action like setting up direct deposit or depositing a minimum amount within a specific window, usually 30 to 90 days.
  • The bonus amount and requirements vary by account type and offer period, so you need to check the current offer before opening.
  • You can find the current bonus offer on the American Express Bank website or by calling their customer service line to confirm what's available right now.

How to learn about a bonus is currently available

The fastest way to check is to visit the American Express Bank website directly and look at the checking account product pages. If a bonus is running, it will be displayed prominently on the account details page, usually with the dollar amount and the specific steps you need to take to receive it.

If you don't see a bonus listed online, you can call American Express Bank customer service to ask whether any promotions are active. They can tell you the exact bonus amount, what action triggers it, and the important date for completing that action. This is worth doing because sometimes bonuses are advertised only on certain pages or through specific channels.

What you typically have to do to get the bonus

Most American Express checking bonuses require you to take at least one of these actions within a set timeframe — usually 30, 60, or 90 days from opening the account:

  • Set up a direct deposit of a certain minimum amount (for example, $500 or more)
  • Make a deposit of a minimum amount (for example, $10,000 or more)
  • Maintain a minimum balance through the end of the may have access to period
  • Complete a combination of the above

The specific requirement depends on which account you open and which offer is running. Read the full terms before you open the account so you know exactly what you need to do and by when. If you miss the important date, you typically won't receive the bonus.

When the bonus actually shows up in your account

After you complete the required action, there is usually a waiting period before the bonus appears. Most bonuses post within 2 to 8 weeks, though some may take longer. American Express will tell you the expected timeline when you open the account or when you complete the may have access to action.

If the bonus doesn't appear by the date you were given, contact American Express customer service with proof that you completed the requirement. Keep records of your direct deposit confirmation or deposit receipt so you can show them if there's a delay.

Comparing American Express checking to other banks with bonuses

Other banks also run checking account bonuses, and the amounts and requirements vary widely. Some banks offer higher bonuses but require larger deposits or direct deposits. Others offer smaller bonuses with easier requirements. The bonus is one factor in choosing a checking account, but you should also look at monthly fees, interest rates on the account, ATM access, and customer service quality.

If you're primarily interested in a bonus and plan to move your money elsewhere after receiving it, make sure you understand any fees for closing the account early. Some banks charge a fee if you close within a certain period, which could eat into or eliminate your bonus.

What happens if no bonus is currently available

If American Express isn't running a bonus when you want to open an account, you have a few options. You can wait to see if they launch a new offer in the coming weeks or months — banks often rotate promotions seasonally. You can open the account anyway if you like the features and fees, and straightforward skip the bonus. Or you can look at other banks that are currently offering bonuses.

Keep in mind that once you open an account, you're usually not may be able to access for a bonus again at that same bank for a set period (often 12 months or longer). So if you open now without a bonus and one launches next month, you won't be able to take advantage of it.

Frequently Asked Questions

Do I have to keep the account open after I get the bonus?

No — once the bonus posts to your account, it's yours to keep. However, check whether there's an early closure fee. Some banks charge $25 to $50 if you close within 90 or 180 days, which could offset your bonus. American Express's terms will spell this out.

What if I don't meet the requirement by the important date?

You won't receive the bonus. The important date is firm, and there's usually no way to extend it or receive the bonus late. Make sure you understand the requirement and the date before opening the account.

Can I get a bonus if I already have an American Express account?

Typically no. Most banks limit bonuses to new customers only, and some require that you haven't held an account with them in the past 12 months. American Express will state this in the offer terms.

Is the bonus considered taxable income?

Yes, bank bonuses are generally considered taxable income by the IRS. American Express will send you a 1099 form if the bonus is $10 or more, and you'll report it on your tax return. Consult a tax professional if you have questions about your specific situation.

What if the bonus amount changes after I open my account?

You'll receive the bonus amount that was in effect when you opened the account, not any new amount advertised later. This is why the exact bonus terms at the time you sign up matter.