If you are applying on behalf of a Corporation or Partnership, you will need to provide information on Beneficial Owners for your business. See below for an explanation of the changes to the Customer Due Diligence Rule, the definition of a Beneficial Owner, the information for a Beneficial Owner that you will need to provide in an application, and the credit impact of providing this information.
What is the Customer Due Diligence Rule (CDD Rule)?
In May 2016, the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued rules strengthening customer due diligence requirements for financial institutions. The CDD Rule requires financial institutions to identify and verify the identity of Beneficial Owners of small business applicants, subject to certain exclusions and exemptions.
Who is a Beneficial Owner?
The CDD Rule defines a Beneficial Owner as an individual, if any, who, directly or indirectly, owns at least 25% of the business. Note: The term “Business Owner” will imply "a business owner who directly or indirectly owns at least 25% of a business."
What information is required for a Beneficial Owner?
American Express Small Business must collect from the applicant, the name, date of birth, home street address, and social security number or other government identification number for each Beneficial Owner. The applicant must also identify an Authorizing Officer, a single individual with significant responsibility to control, manage or direct the business at the time a new account is opened.
Anything else I should know?
The information you provide on the Beneficial Owners of the business will not impact the credit of each individual. They will not receive a Card on the new account unless otherwise requested.
We welcome holders of other Amazon cards to apply for the Amazon Business American Express Card for their business needs. The rewards and benefits are designed specifically for businesses.
The core benefits of the Amazon Business American Express Card include:
- With an eligible Prime membership, choose to earn 5% Back rewards or get 90 Day Payment Terms on U.S. purchases at Amazon.com, Amazon Business, AWS and Whole Foods Market (“Designated Amazon Properties”). If you do not have an eligible Prime membership, you can choose to earn 3% Back rewards or get 60 Day Payment Terms. You will earn 5% Back or 3% Back rewards on the first $120,000 you spend in any calendar year on eligible purchases made using your Card at Designated Amazon Properties when the % Back rewards option applies. Once you reach this $120,000 cap, for the remainder of the same calendar year you will earn 1% Back on all such eligible purchases. Purchases made using Payment Terms will not count towards the $120,000 cap described above.
- Redeem rewards points at checkout at Amazon.com and Amazon Business (U.S.), or apply toward a purchase on your Card statement.
- With enhanced data views, see Amazon Business purchases listed item by item in an easily downloadable file from your online statement.
For a full list of benefits associated with your Card, log into your Online Account at americanexpress.com.
If your application is approved, your Amazon Business American Express Card will be added to the payment methods of the account from which you applied. If this is an Amazon Business account, the Card will be added to your business user account automatically upon approval. If you created an Amazon Business account after being approved for the Card, it will also be added to the business user account on your new Amazon Business account. If your business uses Shared Settings, you will be able to add the Card to the shared payment methods for your Amazon Business account once you receive the physical Card in the mail.
To use your Amazon Business American Express Card as a payment method:
- Log in to the Amazon or Amazon Business account associated with your Amazon Business American Express Card and add items to your shopping cart.
- Select an available shipping address.
- Select the button that appears next to the Amazon Business American Express Card to make this your payment method in the payment section.
Note: If you wish to order a gift card or a downloadable product, you must wait until you receive the physical Card in the mail, which can take up to 10 business days, because you will be prompted to enter the full Card account number.
The Basic Card Member is the person who applied for the Card account and/or to whom American Express addresses account billing statements.
An Employee Card Member is a person to whom American Express has issued, at the Basic Card Member’s request, a Card to access the Basic Card Member’s account.
To learn more, refer to the Card Member Agreement for your Amazon Business American Express Card.
###Using your Amazon Business American Express Card If your Amazon account is only set up for shared payment methods, you will not be able to use your Card until you receive the physical Card in the mail and set it up on your shared payment methods by following these steps.
###Using your Amazon.com Gift Card Additionally, the Amazon.com Gift Card deposited into your Amazon Business account (if applicable) when you were approved for the Card cannot be used as a shared payment method. To use your Amazon.com Gift Card, speak to the administrator for your Amazon Business account, to enable individual payment methods.
###Using your Amazon Rewards points at Checkout Also note that Shop with Points is currently unavailable for use as a shared payment method.
To learn more about individual and shared payment methods on Amazon Business, see Payment Methods and Shipping Addresses.
You do not automatically receive an Amazon Business account after being approved for the Card. If you use the link within the Approval Email you received from Amazon, you will be taken to the Amazon Business site to register for a new account.
For more information on Amazon Business, see here.
You can add up to 99 Employee Cards in three easy steps:
- Log into your Online Account at americanexpress.com and click on the “Employee Controls” tab.
- Click on “Add Employee Cards.”
- Complete the form.
Line item detail for purchases made on your Amazon Business American Express Card can be found through your Online Account at americanexpress.com. You can find your line item details in a few easy steps:
- Log into your Online Account at americanexpress.com and click on the “Account Activity” tab.
- Next, click on the download icon located at the top of your Transactions list.
- Select “Excel” format and be sure to check the boxes to “Include all additional transaction details” and “Include Amazon itemized transactions”.
- You will be prompted when your file is ready for download.
All of the Amazon Business purchases made by the Basic Card Member and any employees on the account are aggregated in a downloadable file that you can view or upload to your accounting system of choice.
Payment Terms gives you the option to take an extra 60 Days (90 Days with eligible Prime membership) to pay for U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods Market. Payment Terms purchases do not begin to accrue interest during the Payment Terms period. See how Payment Terms purchases are treated in your Card Member Agreement for your Amazon Business American Express Card. You will not earn Rewards on purchases for which you select Payment Terms.
% Back rewards –% Back rewards are the rewards you earn under the program. % Back rewards are tracked as Amazon Rewards points, and each 100 points in % Back rewards earned is equal to $1. You can earn 3% Back rewards (5% with an eligible Prime membership) on the first $120,000 in purchases each calendar year on U.S. purchases at Amazon Business, AWS, Amazon.com, and Whole Foods Market, 1% Back thereafter. There is no cap to the rewards you can earn for eligible purchases in the 2% and 1% categories. Amazon Rewards points can be redeemed at Amazon Business (U.S.), Amazon.com, or as a statement credit for purchases made using your Card. See the Shop with Points program for information on using the Amazon Rewards points earned with % Back rewards. Payment Terms will not apply to any purchase for which you select % Back rewards.
You can find whether your U.S. purchase made at Amazon Business, AWS, Amazon.com and Whole Foods Market earned % Back rewards or received Payment Terms when you log into your American Express Online Account. Purchases that receive Payment Terms will be clearly identified on your statement and Online Account. Purchases for which you selected Amazon Rewards points (% Back rewards) will be available to view once your statement is generated each month. If you have any questions or concerns about the rewards option applied to your previous transactions, please contact American Express Customer Service using the phone number on the back of your Card.
For purchases using your Card at all designated Amazon properties, other than Amazon Business (U.S.) and Amazon.com, % Back rewards or Payment Terms will be applied based upon your selection on the Card management page. In the absence of any selection, % Back rewards will be applied by default.
Some Whole Foods Market stores have third party vendors who may accept payments through their own independent point of sale systems. Purchases made from such third party vendors will not be eligible for the 3% Back rewards or 60 Day Payment Terms benefit (5% Back rewards or 90 Day Payment Terms for eligible Prime members), and will earn 1% Back rewards instead.
To learn more, visit the Card management page.
Due to the way your % Back rewards or Payment Terms are processed for U.S. Whole Foods Market stores, changes to your % Back rewards or Payment Terms election can take up to 48 hours to apply to your purchases at U.S. Whole Foods Market stores.