Another Indication of Amex Problems

[GregB]

I just received my notice from Amex on my Merchant Account that they will no longer be refunding the fees when you do a refund.

That means that:

1. I pay a monthly fee to accept Amex which I don't  pay to accept Visa, MC, Disc.

2. I pay a higher discount rate when someone pays me with Amex.

3. They take longer to deposit the money into the bank account than the others.

4. They combine deposits, making reconciliation more difficult.

and now they are adding:

5. When you give a customer a refund, you don't get a reduction in the fees.

So if a customer buys something for $1000 I lose $40 in discount fees. If they bring it back and I give them a refund, I'm still out the $40!

I can't see making a rule that if you pay with Amex, there are no returns. Perhaps they have finally become more trouble than they are worth.

[Creditaddict]

I don't know how much you process a month that is Amex, but I would call and speak to an Amex Merchant rep, they have a couple different options usually on monthly fee vs per transaction etc.

I use to pay a flat fee and then they changed me to no fee, but 3.25% per transaction which was much better for me since I did very little amex

[Anonymous]

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@Creditaddict wrote:

I don't know how much you process a month that is Amex, but I would call and speak to an Amex Merchant rep, they have a couple different options usually on monthly fee vs per transaction etc.

I use to pay a flat fee and then they changed me to no fee, but 3.25% per transaction which was much better for me since I did very little amex

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+1