topic Re: American Express Payments lightning fast in Credit Cards

American Express Payments lightning fast

Anonymous — Fri, 13 Sep 2013 17:23:21 GMT

Seems like AmEx is on the ball, made my first payment thru American Express with my Chase Bank info and it was withdrawn the same day, usually it takes atleast til the next day for payments

Is this the norm? Its nice as I can expect it to clear the same day I hope

Re: American Express Payments lightning fast

youngandcreditwrthy — Fri, 13 Sep 2013 17:30:04 GMT

Yes it is !! Welcome and congrats!

Amex even posts payments in the $1,000+ range right away to your avail credit.
I love it!

Re: American Express Payments lightning fast

CreditControl — Fri, 13 Sep 2013 17:32:16 GMT

My payments do not clear my bank (BOA) until the next day though the payment is reflected in my Amex balance right away.

Re: American Express Payments lightning fast

Pat94108 — Fri, 13 Sep 2013 17:47:18 GMT

@CreditControl wrote:
My payments do not clear my bank (BOA) until the next day though the payment is reflected in my Amex balance right away.

Same here but I bank with Capital One 360.

Re: American Express Payments lightning fast

09Lexie — Fri, 13 Sep 2013 17:51:04 GMT

My CU can take a day to clear.

Re: American Express Payments lightning fast

Gunnar419 — Fri, 13 Sep 2013 18:31:32 GMT

I've also noticed how fast Amex is. Way faster than any oth cc vendor that I know of. They'll credit the payment on "available credit" and send an email saying they've received it even before posting it as a payment on their website and even before the bank clears it.

Re: American Express Payments lightning fast

minipoly1 — Fri, 13 Sep 2013 18:50:15 GMT

@Gunnar419 wrote:
I've also noticed how fast Amex is. Way faster than any oth cc vendor that I know of. They'll credit the payment on "available credit" and send an email saying they've received it even before posting it as a payment on their website and even before the bank clears it.

If you have Chase accounts, payment usually immediately. You will see the updated amount in available credit right away.

One nice thing about Chase is they do account update at 10pm ET weekday instead of midnight.

Re: American Express Payments lightning fast

TheClub — Fri, 13 Sep 2013 19:17:57 GMT

If you have a Chase checking & Chase credit card account (CSP, CS, Freedom, Slate, etc.) payment will post immediately and reflect in your available credit.

Also, I find that my payments are expedited when using it to pay my CapOne, AMEX, ad Discover bills also. Not sure if it's because of the chase checking or not.

& Welcome to AMEX!

Re: American Express Payments lightning fast

jamesdwi — Fri, 13 Sep 2013 19:24:33 GMT

mine post the next day, but I think its more likely on my bank does a batch process that does electronic transactions because my Paycheck and every other billed paid happens right around 8am everyday... never any other time, except for ATM transactions.

Not sure about checks because I haven't written one in years... Don't even have any blank checks to try.

Re: American Express Payments lightning fast

Anonymous — Fri, 13 Sep 2013 22:01:03 GMT

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.

Re: American Express Payments lightning fast

youngandcreditwrthy — Sat, 14 Sep 2013 01:57:38 GMT

Barclay's, however, loves to put payments on hold... Well any time I made a pmt in excess of $2k

Re: American Express Payments lightning fast

Anonymous — Sat, 14 Sep 2013 02:10:28 GMT

@Anonymous 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?

Re: American Express Payments lightning fast

Anonymous — Sat, 14 Sep 2013 02:25:09 GMT

@Anonymous wrote:
@Anonymous 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?

Re: American Express Payments lightning fast

Anonymous — Sat, 14 Sep 2013 02:27:15 GMT

oh ok so they can pull from chase fast, doesnt bother me, I always make sure funds are available before I pay

Re: American Express Payments lightning fast

Anonymous — Sat, 14 Sep 2013 02:42:00 GMT

Yeh, personally I'd see that as a perk. I hate having payments pending.

Re: American Express Payments lightning fast

audia4 — Sat, 14 Sep 2013 05:40:39 GMT

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.

Re: American Express Payments lightning fast

MsLadyRover — Sat, 14 Sep 2013 05:47:06 GMT

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.

Re: American Express Payments lightning fast

FinStar — Sat, 14 Sep 2013 06:23:45 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous 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.