06-20-2011 11:23 AM - edited 06-20-2011 11:24 AM
It depends on whether your bank has an electronic relationship with Amex or whether they will have to issue a paper check. Electronic transfers that are "pushed" usually appear the next day on my bank account and one or two business days on the recipients. If they have to issue a paper check it will be several days longer. If you look in the "bill pay" section of your bank account, you should see whether Amex is electronic or manual (paper check).
Hope this helps.
06-20-2011 11:28 AM
I know this is an old link but I have another question regarding Amex "PUSH" payment method.....
I just received my Amex CC and have spent about $1500 on the CC so far. From what I've read, I can't pay at american website til after the 1st payment cut. I've decided to "PUSH" the paymeht in the amount of $1500 from my bank account to Amex. I guess the question I have is....how soon will the payment be posted to Amex once they received the electronic check.
For example, I push the payment on 6/17/2011 and my bank stated Amex will received the payment by 6/21/2011. Any idea when will the payment be credit to my Amex account? 2 business days? 5 business days?
Thanks in advance.........
Depends on your bank and how they send the payment to Amex. I have USAA and usually it posts the day that USAA states (they send electronic payments). Which bank do you use? and do they send payments electronically or via check?
06-20-2011 11:35 AM
I have a Wells Fargo checking and noticed that the payment sent is "eBill" to be deliver by 6/22/2011. I am hoping that once Amex received the "eBill" as a form of payment, they are going to credit my account within 2 business days. Are my assumptions correct?
Thanks in advance.....
06-20-2011 11:41 AM
The account should be credited the day they receive the electronic payment. It may not show up however, for 24 - 48 hrs. on you Amex account. If you are concerned, call Amex on the 22nd and confirm that the payment has been received and will be posted on that day.
06-20-2011 12:01 PM
USAA had an offer on my online account that if I did 5 non-USAA billpays, they'd credit me $50. I made two on Saturday (to AmEx and BofA), and it specifically said that they would not be credited/ received OR deducted from my account until tomorrow. Both banks appeared on a list of possible accounts, so I think that they do have a "relationship", or that at any rate, they don't have to cut a paper check.
When I pay on AmEx or BofA's sites, it's credited immediately, depending on the time of day.
I rarely push my payments from my outside bank because of this, since I like to pay before the statement drops. The lag time makes it too easy for something else to pop up. But as a one-time tactic for a new account, it can help keep a whopping balance posting.
However, this may well differ with other banks.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.