Amex Business Checking pays 35,000 Membership Rewards points for $5,000 kept 60 days and 5 transactions. What the points are worth, and the catch.
By Vamsi, RewardsGuru.club. Published October 16, 2026.
Checked Friday, October 16, 2026, on American Express's Business Checking page and its offer and rates terms. Amex says its rates are "accurate as of 10/16/26." Our value for Amex Membership Rewards points is 1.9 cents, set May 19, 2026.
The short version: American Express is offering 35,000 Membership Rewards points for opening an Amex Business Checking account, putting $5,000 in within 30 days, keeping an average of $5,000 there for 60 days, and making five qualifying transactions. Keeping that $5,000 in checking at 1.00% instead of Amex's own Business Savings at 3.15% costs about $17 in interest over the 60 days. The 35,000 points are worth $280 as a deposit into the account, $350 if you also hold the Business Platinum Card, and about $665 at our value when they're moved to airline and hotel partners.
Amex's page says you earn 35,000 Membership Rewards points after you:
The offer is on the checking account only. Amex Business Savings, marked "NEW" on the same page, has no welcome bonus listed.
| How you use the points | Amex's rate | 35,000 points become |
|---|---|---|
| Deposit into your Business Checking account | 1,000 points = $8 | $280 |
| Deposit, with a Business Platinum Card on the same rewards account | 1,000 points = $10 (first 1,000,000 points a year) | $350 |
| Moved to airline and hotel partners | Our value, 1.9 cents a point | about $665 |
The deposit rates are Amex's own. The last row is our house value for Amex points, so what you actually get depends on the booking. To test a booking, divide the cash price by the points price: a $500 flight for 25,000 points is 2 cents a point.
You don't need an Amex card to move the points. Amex's FAQ says points earned from Business Checking "can be converted into deposits or transferred to participating partner loyalty programs." Moving points to a U.S. airline carries Amex's fee of $0.0006 a point, up to $99, so $21 on 35,000 points. Amex also runs bonuses on transfers to some partners; every one we've priced this year is in our transfer bonus history.
The $5,000 has to sit in checking, and checking pays less than savings. Today Amex Business Checking pays 1.00% APY and Amex Business Savings pays 3.15% APY, both compounded daily. Over 60 days, $5,000 earns about $8.19 in checking and about $25.56 in savings. So meeting the balance rule costs about $17 in interest you'd otherwise earn at the same bank.
Both rates are variable. Amex says it can change them "at any time without notice before and after" the account is opened.
From Amex's offer terms:
From Amex's Business Checking rates and fees table:
| Item | Amex Business Checking |
|---|---|
| Interest | 1.00% APY on balances up to $500,000; no interest on the part above $500,000 |
| Monthly fee | None, and no minimum balance |
| Outgoing domestic wire | $25 (incoming is free) |
| Same-day ACH | $10 outgoing |
| ATM withdrawals | No fee at Allpoint and MoneyPass ATMs |
| Debit card abroad | 2.7% foreign transaction fee |
| Cash deposits | Not accepted at ATMs "at this time" |
The debit card earns 1 Membership Rewards point for every $2 of eligible purchases. That's $4 per $1,000 spent as a deposit into the account, or about $9.50 per $1,000 at our value. Cash withdrawals, person-to-person payments, prepaid card loads and Amex gift cards bought online don't earn points.
Amex Business Savings pays 3.15% APY, compounded daily and paid monthly, with no monthly fee and no minimum balance. You can move money between it and Business Checking online or in the Amex app. Amex's savings rates table doesn't print a balance cap.
Amex says it's accepting applications from eligible U.S. businesses. Its FAQ lists what you'll need:
Money service businesses, cryptocurrency, internet gambling and marijuana-related businesses are on Amex's list of ineligible industries. There's no minimum opening deposit, but Amex says you need to fund the account within 120 days to keep it open.
If you already hold an Amex card that earns Membership Rewards and link it to the same rewards account, Amex pools the points from the card and the debit card into one balance, which can then be used the same ways as your card's points. You can also pay Amex business card balances from the checking account. For how Amex's Business Gold Card compares with Chase's Ink Business Preferred, see our side-by-side of the two.