How to Open an Amex Business Checking Account (WATCH ME APPLY!)

The Amex Business Checking Account has NO monthly fees, NO minimum balance requirement, and comes with a welcome BONUS! Watch me fill out the application and give you a tour! Click “Show More” to see Ad Disclosure.

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Although best known for their credit cards and charge cards, Amex did a great job entering the business banking product space. The American Express Business Checking account is an EXCELLENT digital product that currently offers the following benefits:

- Limited Time Offer: Earn 60,000 Amex Membership Rewards points after qualifying activities (apply before 1.03.2022)
- 1.3% APY on balances up to $500,000
- No minimum balance requirement
- No monthly maintenance fees
- 24/7 support

In today’s world, it’s rather hard to find checking accounts that (a) don’t charge you a bunch of fees - or require you to do certain activities to waive them - and (b) don’t have minimum balance requirements - whereby if you don’t meet them, you’ll be charged even more fees.

❓QUESTION: What do I need to open an Amex business checking account?
👉 ANSWER: In order to open American Express Business Checking, you will need:

- Your Employee Identification Number (EIN) or Taxpayer Identification Number (TIN)

- Your Articles of Organization or a Certificate of Formation (Amex lists this as a requirement, although I did not have to provide it during the application process. Good to have it nonetheless in case they do ask)

- 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

🔗 Learn more at this link: https://www.americanexpress.com/en-us/business/checking/

💵 REDEEMING AMEX POINTS
You can redeem Membership Rewards points for deposits into your Amex Business Checking Account at a rate of 1,000 points for an $8.00 deposit (i.e. 0.8¢ per point, this is the standard rate). This holds true if you have cards like the Amex Green Card, Amex Gold Card, Amex Business Gold Card, Amex Platinum Card (personal version), etc.

HOWEVER…if you have an Amex Business Platinum Card plus an American Express Business Checking Account linked to the same Membership Rewards Account, you can then redeem your Membership Rewards points for a deposit at a rate of 1,000 points for $10.00 (i.e. 1.0¢ per point) for up to 1,000,000 points per calendar year. Beyond that, you can still redeem Amex points for deposits but only at the standard rate of 0.8¢ per point.

🔗 Learn more at this link: https://www.americanexpress.com/content/dam/amex/us/rewards/membership-rewards/mr-terms-conditions-06.2022.pdf?tier=LF&mrk=&stoken=

Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.

#americanexpress #amex #smallbusiness