@john398 wrote:
@ForMyBiz wrote:They bank with Chase, or at least when you wire them money you have to send it to a Chase account. Still, if it was ACH consumer to consumer accounts I would be amazed if it posted the same day, so it sounds like they are getting some special treatment.
are you say AmEx banks with Chase?
Yeh, personally I'd see that as a perk. I hate having payments pending.
I have to say they are pretty quick, but it has never been within the same day for me. I have 2 bank accounts linked to my Amex, one is a credit union and the other is Chase. I made 2 payments today (1 from each acct) and although Amex sent me the payment by email showing I made the payment, it did not credit it to my account nor did it reflect on my balance yet either (and I do this a couple of times a week). Hmmm, that's weird if it's happening for others. 
AMEX is always quick for me also.
I made my payment this morning and it's already out of my account. I use B of A.
Starting Score: 639 (Walmart TU)
@ForMyBiz wrote:
@john398 wrote:
@ForMyBiz wrote:They bank with Chase, or at least when you wire them money you have to send it to a Chase account. Still, if it was ACH consumer to consumer accounts I would be amazed if it posted the same day, so it sounds like they are getting some special treatment.
are you say AmEx banks with Chase?
Just to clarify, it is NOT that they bank with Chase per se, they do have a wire agreemement for ACH on the Coporate Card side just as they have similar partnerships with other financial institutions - BofA is another. AMEX just happens to have state-of-the-art ACH presentment tehcnology which allows them to clear the payments quicker instead of the standard overnight batch processing. It also functions similarly with agreements that they have with other major banks such as BofA , WF, Goldman Sachs, etc.