Amex Cash Back Cards Can Now Redeem Reward Dollars Into an Amex Deposit Account

Eligible Amex cash back card members can now redeem Reward Dollars into an Amex deposit account at a 1:1 rate with no minimum redemption amount. Consumer cards such as the Blue Cash Everyday and Blue Cash Preferred redeem into an Amex High Yield Savings Account. The Graphite Business Cash Unlimited redeems into Amex Business Checking.

These are cash back Reward Dollars, not Membership Rewards points.

The conditions:

• Login: to redeem online, the card and the deposit account must share the same AmericanExpress.com login. If they do not, call the number on the back of your card
• Savings: the basic card member must be the first or second named owner, and the account must be open and unrestricted
• Business Checking: the basic card member must be the primary admin or account owner; admin users and view-only users are not eligible
• Card status: the card must not be canceled or past due
• Timing: deposits generally post within 4 business days but may take up to 6 weeks, and a completed deposit cannot be reversed

Amex plans automatic redemption in 2027 for consumer cardholders who also have an Amex High Yield Savings Account.