What American Express Offers for Checking Accounts
American Express does not currently offer a traditional checking account with a sign-up bonus. Amex is primarily a credit card and charge card company, not a bank that holds deposits. If you have seen advertising for an "Amex checking bonus," it is likely referring to a credit card welcome offer rather than a deposit account.
American Express does partner with banks to offer deposit products under the Amex brand, but these partnerships change and vary by region. The most reliable way to know what Amex is currently offering is to visit their official website or call their customer service line directly, since bonus structures shift frequently and are not always advertised widely.
Key Takeaways
- American Express primarily issues credit cards and charge cards, not traditional checking accounts.
- Any "Amex checking bonus" you encounter is most likely a credit card welcome offer, not a deposit account bonus.
- Amex has partnered with banks in the past to offer savings and money market accounts, but these offerings are not consistent across all regions.
- To find current deposit account options, contact Amex directly or visit their website, since offerings change regularly.
- If you are looking for a checking account with a bonus, you may find better options through traditional banks or online banks that specialize in deposit accounts.
The Difference Between Amex Credit Cards and Deposit Accounts
American Express is best known for its credit cards and charge cards — products where you borrow money and pay it back monthly. These cards often come with welcome bonuses in the form of points, miles, or statement credits after you spend a certain amount in the first few months.
A checking account, by contrast, is a deposit account where you store your own money. Banks offer checking bonuses to attract new customers, usually by crediting your account with cash after you meet requirements like setting up direct deposit or maintaining a minimum balance. American Express does not operate as a traditional bank and does not hold checking deposits the way Chase, Bank of America, or Wells Fargo do.
When Amex Has Offered Deposit Products
In the past, American Express has partnered with banks to offer savings accounts and money market accounts under the Amex brand. These partnerships have included offerings like high-yield savings accounts where Amex customers could earn interest on deposits. However, these products are not always available in every state, and partnerships change over time.
If Amex currently offers a deposit account in your region, you would typically find information about it on the main Amex website under a "Banking" or "Savings" section. The terms, interest rates, and any promotional bonuses would be listed there. Because these offerings are not permanent or universal, checking directly with Amex is the only way to know what is available to you right now.
How to Find Current Amex Checking or Savings Offers
Start by visiting the official American Express website and looking for a section on deposit accounts or banking products. If you do not see a checking account option, try searching for "American Express savings account" or "Amex deposit account" to see what comes up.
You can also call American Express customer service at the number on the back of your Amex card (if you have one) or at their main customer service line. Tell them you are interested in learning about any checking or savings accounts they currently offer. They can tell you whether a product exists in your state and what the current terms are.
If Amex does not have a deposit account available to you, consider looking at online banks like Ally, Marcus, or Discover Bank, which regularly offer checking or savings bonuses and are available nationwide.
Credit Card Bonuses vs. Checking Account Bonuses
If you have an American Express credit card, you may have received a welcome bonus offer when you opened the account. These bonuses are different from checking account bonuses. A credit card bonus typically gives you points or miles after you spend a set amount — for example, 75,000 points after spending $5,000 in the first three months. You earn this bonus by using the card to make purchases, not by depositing money.
A checking account bonus, by contrast, is cash or a statement credit deposited directly into your account. It usually requires you to set up direct deposit, maintain a minimum balance, or complete a certain number of transactions. Because American Express is not primarily in the checking account business, these types of bonuses are rare from Amex itself.
What to Do If You Want a Checking Bonus
If you are specifically looking for a checking account with a cash bonus, your best options are traditional banks and online banks. Many regional and national banks offer checking bonuses ranging from $50 to $300 or more, depending on the account and the promotion. Online banks often have higher bonuses because they have lower overhead costs.
When comparing checking bonuses, read the fine print carefully. Most bonuses require direct deposit to be set up within a certain timeframe, and some require you to maintain a minimum balance or complete a minimum number of debit card transactions. The bonus is only paid if you meet all the stated requirements.
You can still use an American Express credit card for everyday purchases and earn rewards points even if you open a checking account with another bank. Many people maintain accounts at multiple institutions to take advantage of different bonuses and features.
Frequently Asked Questions
Does American Express offer a checking account with a bonus right now?
American Express does not consistently offer checking accounts. They primarily issue credit cards. If they have partnered with a bank to offer deposit accounts in your area, you would find details on their official website. Contact Amex directly to confirm what is available in your state.
What is the difference between an Amex charge card and a credit card?
An Amex charge card requires you to pay the full balance each month, while an Amex credit card allows you to carry a balance and pay interest. Both are credit products, not deposit accounts, and neither one is a checking account.
Can I use my Amex credit card to meet checking account requirements?
No. If you open a checking account with another bank, that bank will not count Amex credit card transactions toward checking account requirements. You would need to use a debit card or transfers from that checking account itself.
Where can I find a checking account bonus if Amex does not offer one?
Online banks like Ally, Charles Schwab, and Discover Bank regularly offer checking bonuses. Regional banks and credit unions in your area may also have promotions. Compare the bonus amount, the requirements to earn it, and the account features before choosing.
Will opening a checking account affect my American Express credit card?
No. Opening a deposit account with another bank will not change your Amex credit card account, your credit limit, or your rewards. The two are separate products.