How much is the American Express National Bank Rewards Checking bonus actually worth?
The headline number is 20,000 Amex Membership Rewards points. Counting the money you tie up and the time the requirements take, it works out to about $571/hr per hour of your own time.
A checking account that pays Membership Rewards points instead of cash, so the value depends on how you redeem. No monthly fee and no minimum balance.
The numbers, in full
| Payout | 20,000 Amex Membership Rewards points |
|---|---|
| What it takes | Open Rewards Checking and receive qualifying direct deposits totaling the amount stated in the offer terms within the first 60 days. |
| Direct deposit needed | Yes |
| Money tied up | None |
| Time committed | 90 days |
| Effective APY | No capital tied up |
| Per hour of your time | $571/hr |
| When it pays | Points post about 8 weeks after the requirement is met |
| Offer ends | No published end date |
| Last checked | Aug 14, 2026 |
What the return actually looks like
No money of yours sits still here, so an APY would be meaningless. Judge it on pay for your time: about $571/hr for roughly under an hour of work.
Read this chart as a table
| Offer | Pay per hour | Hands-on hours |
|---|---|---|
| Oregon State CU | $2,400/hr | 0.25h |
| PNC | $1,143/hr | 0.35h |
| Fifth Third | $1,000/hr | 0.35h |
| Upgrade | $800/hr | 0.25h |
| Bank of America | $750/hr | 0.67h |
| American Express National Bank (this offer) | $571/hr | 0.35h |
Open it
This link is our personal referral. It costs you nothing and often pays you more than the public page.
Related questions
What it is worth
Same question, different offer.
- How much is the Fifth Third Momentum Checking bonus actually worth?$350
- How much is the Capital One 360 Checking bonus actually worth?$250
- How much is the Chase Total Checking bonus actually worth?$400
- How much is the Webull Brokerage / IRA bonus actually worth?Up to $160 + 12 shares
- How much is the SoFi Checking & Savings bonus actually worth?$50 - $400
- How much is the PNC Virtual Wallet bonus actually worth?Up to $400
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