Amex Balance transfer handling fee

Rocka · 23 January 2006 at 9:44AM

Hi - my first posting - hope I'm doing it properly.

I recently followed the advice on a money saving tip and applied for an Amex Card so that I could transfer £4000 and benefit from the low interest rate. I recently made the transfer and when I received the statement through they had charged me a £40 handling fee.

As a handling fee hadn't mentioned on Martin's tip I am wondering if they are pulling a "fast one". I would be very grateful if you could let me know if they are and give me any advice on how I can get a refund of the £40 if it is possible.

I love this site and always look forward to receiving my tips each week!

grumbler · 23 January 2006 at 10:29AM

Rocka wrote:

...a handling fee hadn't mentioned on Martin's tip

Always do you own research. Link Amex Platinum* in Martin's article (and I think in the tip too) leads to http://www.moneysupermarket.com/Cards/PreApply.asp?CardID=1008&d=1. If you check See Further Details here you will see:

Balance Transfer Fee - Possible Fee
American Express may charge a handling fee in relation to balance transfers. Any such fee will be 2% of the balance transferred or £40, whichever is the lesser.

Check also T&C that you have signed.
BTW British Airways Amex* mentioned in the same article does not charge for BTs.

Rocka · 23 January 2006 at 11:03AM

Hi grumbler - thanks! An expensive lesson learned by me - I'll not be so lazy in future!!!
Rocka

PS Can you tell me how I get rid of the "regards mark" which seems to be apprearing at the bottom of my posts

grumbler · 23 January 2006 at 11:13AM

Rocka wrote:

..Can you tell me how I get rid of the "regards mark" which seems to be apprearing at the bottom of my posts

This is supposed to be your signature. See: Signatures .

Rocka · 24 January 2006 at 4:51PM

Thanks - signature changed. After getting your email and 'feeling the pain' I decided to ring American Express to try and get a refund - and it worked! I just said that I had not expected there to be a charge and the operator immediately said it was a mistake and I would be credited on my next statement. I can't believe it!! I'm definitely getting more confident in dealing with these institutions.
Thank you one and all!

AMILLIONDOLLARS · 24 January 2006 at 5:26PM

Thanks Rocka

I am think I am going to try this tommorrow!! I was also charged the £40 fee!!!

Rocka · 27 January 2006 at 6:15PM

Hi AMILLIONDOLLARS - just to say I hope you got the refund too!

Amex Balance transfer handling fee

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