topic Re: Amex Venmo/Paypal app in Credit Cards

Amex Venmo/Paypal app

GApeachy — Sun, 07 Feb 2021 05:46:56 GMT

Just got this:

"Whether you’re sending money to family or paying friends back for shared expenses, when you send money from the Amex® App, you won’t be charged the Venmo or PayPal credit card fee.† "

Go in on a group birthday gift, split a meal with friends and family, and more. When you split a charge on your Card, you can get paid back as a statement credit (plus, you’ll be the one to earn all the rewards

Download the latest versions of the Amex® App and Venmo or PayPal app. Then enroll via the Account tab in the Amex® App, link your Venmo or PayPal account, and you’re ready to send and split!

Re: Amex Venmo/Paypal app

cashorcharge — Fri, 05 Feb 2021 00:54:23 GMT

#trendsetter

1 day into your approval and they're already sending you love to use the card! That's terrific!!!

Re: Amex Venmo/Paypal app

GApeachy — Fri, 05 Feb 2021 00:58:16 GMT

@cashorcharge wrote:
#trendsetter
1 day into your approval and they're already sending you love to use the card! That's terrific!!!

Ahaha #, too bad it wasn't an auto cli.....now THAT would rock!

Re: Amex Venmo/Paypal app

blindambition — Fri, 05 Feb 2021 01:03:04 GMT

Amex saying #ShowUsTheMoney!!!

Re: Amex Venmo/Paypal app

GApeachy — Fri, 05 Feb 2021 01:17:50 GMT

@blindambition wrote:
Amex saying #ShowUsTheMoney!!!

I be saying #DontHoldYourBreath

Re: Amex Venmo/Paypal app

K-in-Boston — Fri, 05 Feb 2021 01:50:19 GMT

#ShowMeTheFinePrint

To use Send & Split, you must first have an email address on file, enroll in Send & Split in your American Express Online Account (“Online Account”), and open an Amex Send™ stored balance account in the Amex App (“Send Account”). Send & Split allows you to: (i) send a person-to-person payment from your Send Account to Venmo and PayPal users (“Send”) and (ii) split a Card purchase (“Split”) and receive funds to your Card account as a statement credit or to your linked Venmo or PayPal account. You may use Send & Split with an Additional consumer Card that is issued in the US by American Express National Bank and is not canceled if you also have an eligible Card in the same Online Account and that Online Account is enrolled in Send & Split. You must have or create an account with Venmo or PayPal and link your Online Account to your PayPal or Venmo account to use Send & Split. You must add money to your Send Account from your eligible Card(s) to Send to a Venmo or PayPal recipient. The money you add will be reflected in your Send Account balance. The charge on your Card for an Add Money transaction does not earn rewards and is subject to the Card’s purchase APR.

I was wondering if this was going to be a way to avoid the cash transaction fees that the card issuers keep putting on Venmo and other peer to peer payments, but it appears that you have to add money to a separate balance in order to use it so it doesn't seem to actually be any different than using a checking or PayPal account really, unless I am missing something?

Edit: I didn't actually read all of the fine print I just pasted; funds can be added from your eligible card to the account and are subject to purchase APR not cash advance APR.

Re: Amex Venmo/Paypal app

GApeachy — Fri, 05 Feb 2021 10:15:19 GMT

@K-in-Boston wrote:
...funds can be added from your eligible card to the account and are subject to purchase APR not cash advance APR.

Sweet!