I saw an interesting promotion at the bottom of the monthly newsletter that Amex sends me for my Blue for Business card: “Fee-free international wire payments @ earn up to 30K points.” The link brought me to a landing page not otherwise accessible from the Amex site (at least as far as I could find). (The link had a referral code in it, so I don’t want to share it here. The main address is at fxipreferral.americanexpress.com, but that doesn’t work as a URL without the other junk. I’m not sure if this was targeted to me or not.)
I wish I could take advantage of this, but you need a business checking account and a tax ID number (not a social security number). It’s a separate service with a much more involved application than what I had to complete in order to get the business card in the first place, and it’s clearly not for hobby businesses like mine. The annoying thing is that I do sometimes need to make foreign wire transfers when buying things from Europe, since PayPal is nowhere near as common as it is here. Even without the bonus, a fee-free option for wire transfers (for a limited time, $10 thereafter) is way better than $45 from Chase, even if Amex gouges me on the exchange rates. The bonus offer is really good, too – 15,000 points after the first transfer and 30,000 after three more. There isn’t even a minimum amount required to trigger the bonus. You also earn points for the actual transfer, but at 1 point per 30 dollars transferred, it’s not exactly an undiscovered manufactured-spend goldmine.
Anyway, anyone with a business card through Amex and a “real” business should check if they’re targeted for this. It’s also a good reason not to opt out of the mostly useless monthly newsletters, since they do sometimes contain interesting offers. Has anyone had experience with this? Is there a catch, like Travelex-level gouging on the exchange rates or other hidden fees? It did almost sound too good to be true, even if I could have made it all the way through the application.