Earn up to 30,000 AMEX Membership Rewards points for FX International Payments, if you own a business and make 4 FX transactions within 90 days.
Link: FX International Payments (scroll down the page to see the Membership Rewards points bonus offer)
Note that this service is intended for businesses that need to make foreign currency transactions, and isn't available to consumers. If you don't have a business, I recommend you wait for the next good signup bonus for an AMEX charge card or credit card and open all your AMEX mail (and encourage your spouse or partner to do the same) to see if you've been targeted for a special signup bonus offer.
30K MR Points FX International Payments Offer Details
- Earn 15,000 Membership Rewards points on your Membership Rewards eligible AMEX card when you make your first FX transaction
- Must complete at least one foreign currency transaction no later than January 1, 2015
- Earn an additional 15,000 points when you make 3 additional FX transactions within 90 days of first foreign currency payment
- Bonus ID: 7786
- One Membership Rewards point will be awarded for every $30 wired internationally using the FX International Payments Service, up to a maximum of 4000 bonus points per transaction (not valid for same currency transactions)
- Same currency wires are not eligible for points
- Only businesses are eligible; service is not available to consumers
- Transactions must be funded from a business bank account with a United States financial institution
- If an OPEN Card Member applies for the FX International Payments service and is approved, American Express will waive its transaction fee on foreign currency wire payments for 6 months, and charge a transaction fee of only $10 after the six month waiver period ends…same currency wires are not eligible for the waiver
- If an OPEN Business Platinum Card Member applies for the FX International Payments service and is approved, American Express will waive its transaction fee on foreign currency wire payments. This waiver may be discontinued by American Express at any time or in the event you cease to be an American Express OPEN Business Platinum Card Member.
FAQ
What Info on My Business Do I Need to Provide to Apply for FX International Payments?
- Your name
- Business Title
- Business Phone Number
- Business Email
- Legal Name of Business
- Business Type (Note that Sole Proprietorships are required to provide a copy of their business license and a voided check)
- Federal Tax ID
- Year of Incorporation
- Business Address
- Whether the Business is Strictly an Online Company with No Physical, Retail or Office Presence
- Type of Business
- Goods and Services for Which the Business Makes International Payments
- Does the Company Provide Internet Gambling Services?
- Entity Staff Size
- Asset Size
- Average Number of International Payments per Month
- Average Value of International Payments per Month in USD
- Countries in Which Business Makes Payments
- Financial Institution
- Name on Business Checking Account
- ACH Routing
- Business Checking Account Number
What's the Fee per Foreign Currency Transaction?
Each foreign currency wire is $15, but this is waived if you are a AMEX Business Platinum Card Member as long as you're a cardholder, and is waived for the first 6 months if you have an AMEX Business card linked to OPEN (after 6 months it's $10 per wire).
How Long Does It Take Foreign Currency Transactions to Complete?
Per FX International Payments “Most transactions are fulfilled within 24-48 hours.”
Bottom Line: I would only sign up if you have a legitimate business and at least sometimes do need to make foreign currency wires. I occasionally do send foreign currency wires for my business, but I'm delaying on signing up because I'm hoping for a good targeted signup bonus for the AMEX Business Platinum card (perhaps wishful thinking!)
If you've signed up in the past for FX International Payments, did you receive the 30,000 AMEX Membership Rewards bonus?
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