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Holy smokes, these business bank accounts keep coming back around. Last year we saw a series of 50k offers, and then in May a 70k popped up…that was a good omen of rich offers to come. As reported by MTM, the 70k banger is back ( tho targeted ), and here are the details you open a new business checking account with them and fulfill the following requirements:
My wife was targeted for 70k
- Make a deposit of $15k or more within 30 days of opening
- Maintain an average balance of $15k or more for 60 days
- Make 5 ore more qualifying transactions within 60 days of opening your account
You do need a business, but at the same time, Sole Proprietors should qualify. This 70k deal looks to go to 01/31/25
You can see if you’re targeted here
I have been repeatedly targeted for the 50k offer, which requires less deposits.
- Make a deposit of $5k or more within 20 days of opening
- Maintain an average balance of $5k or more for 60 days
- Make 5 ore more qualifying transactions within 60 days of opening your account
Is this the best deal we’ve seen?
History:
10/23/24 – 70k or 50k
- 15k deposit, $15k average balance for 60 days, 5 transactions
- $5k deposit, $5k average balance for 60 days, 5 transactions in 60 days
8/8/24 – 70k
- $15k deposit, $15k average balance, 5 transactions
5/06/24 – 70k
- $15k deposit, $15k average balance for 60 days, 5 transactions
01/31 – 50k
- $5k deposit, $5k average balance for 60 days, 5 transactions in 60 days
11/23
- 50k
- $5k deposit, $5k average balance for 60 days, 5 transactions in 60 days
12/22
- 60k
- $5k deposit, $5k average balance for 60 days, 10 transactions in 60 days
What are 5 qualifying transactions?
This is what Amex defines as a qualifying transaction – the great thing here is that mobile deposits qualify.
The account is fully digital
If you want the ability to go into a branch and speak to someone in person…this isn’t your jam. If you’re cool with it all being online and digital, this could be a nice fit.
Here are some of the benefits of an Amex Business Account
You earn 1 Membership Reward point on every $2 you spend on the Business Debit card
- 1 Membership Rewards for every $2
- Earn an APY on Business Deposits
Payments:
- Domestic ACH: No fee
- Domestic Wire (Incoming): No fee
- Domestic Wire (Outgoing): $20
- International ACH (Incoming): No fee
These processing fees are included fee free:
- Monthly account maintenance
- Account opening
- Additional accounts
- Mobile deposit capture
- E-checks
- Outgoing and incoming returns
- Non-sufficient funds
- Stop pay
- Billing inquiry
- Duplicate credit/debit received
- Admin processing
- Statement copy
- Physical checks processing
Zach, what do I need to provide to sign up for an Amex Business Checking Account?
This is what Amex says you will need to provide:
• Your Employee Identification Number (EIN) or Taxpayer Identification Number (TIN)
• Your Articles of Organization or a Certificate of Formation
• Information from a Driver’s License, State I.D., or Passport for each owner
• A Social Security Number (SSN) and ID verification for any Beneficial Owner with ownership of 25% or more
• A “Doing Business As” (DBA) certificate only if your business operates under more than one name
• A U.S. business address
• Information about your industry, size, and the purpose of your account
Will I do this?
I did do this at the end of 2023 and am currently in the process of getting approved ( I used a mailbox vs physical address, but I am on pace to get the 50k bonus ). The points for completing the requirements took a couple of months ot populate my account.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Chase Sapphire Preferred® Card
Welcome Offer
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Annual Fee
$95
Points Earned
Transferrable Chase Ultimate Rewards
- 5x on all travel purchased through Chase Travel℠
- 3x on dining, including eligible delivery services for takeout & dining out
- 3x on select streaming services
- 3x on online grocery purchases
- (excluding Target, Walmart and wholesale clubs)
- $50 Annual Chase Travel Hotel Credit via Chase Travel℠
- The begins immediately for new cardmembers and after your account anniversary for existing cardmembers
- 2x on all other travel
- 10% Anniversary Bonus
- Every year you keep the card, your total spend will yield a 10% points bonus. If you spend $10k in a year, you’ll get 1k bonus points
- Chase Sapphire Preferred continues to redeem at 1.25c in the Chase Travel℠ and the slew of other benefits remain in tact including Auto Rental Collision Damage Waiver ( primary ), purchase protections, etc.
- Points are transferrable to 14 Ultimate Rewards partners
- Redeem in Chase Travel℠ for 1.25 cents per point
- No foreign transaction fees
- Suite of Travel and Purchase Coverage
- Auto Rental Collision Damage Waiver is my favorite
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- $95 Annual Fee
We keep an up to date spreadsheet that lists the best ever offers: You can find that spreadsheet here.
Historically 80k is a very, very good offer and hit in both 2022 and 2023. In 2021, we saw the offer hit an all time high of 100k. Who knows if that will ever come back.
Main Cast:
Cards that earn flexible points and should be used on the bulk of your purchases.
Supporting Cast:
Cards that earn fixed points in the currency of the airline/hotel and can not be transferred at attractive rates. These cards yield benefits that make it worth keeping, but not necessarily worth putting a lot of your everyday spend on.
The Chase Sapphire Preferred® is exceptional starter card and offers transferrable Ultimate Rewards, and pairs well with other Chase cards.
If you carry this card alongside Chase’s cashback cards like the Chase Freedom Flex® and Chase Freedom Unlimited® or the business versions: Ink Business Cash® , Ink Business Unlimited® you can combine the points into Preferred account and transfer into hotel and airline partners
Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.
The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.