Cash withdrawal using AMEX Green Card

baby_frogmella

Hi

Does anyone know how ATM cash withdrawals work with an AMEX Green Card? My understanding was that provided you were enrolled, you could withdraw £200 over a 7 day period, pay a 3% handling charge with no further interest charges and then clear off the full balance within 14 days from your next statement date....HOWEVER having just spoken to customer services, they said that they will send me a mandate form (direct debit?) because my nominated bank account has to fund the cash withdrawal!!! And they still charge me 3% on top of this:eek:

Could someone please clarify?
Thanks

skyrider007

I guess it is 3% once, not twice. I think you're better off getting an overdraft.

From AMEX Green Charge Card Ts & Cs:

Clause 9.b
Whenever you make a cash withdrawal we will charge a fee of £3 or 3% of the amount of any cash withdrawal (whichever is greater).
Clause 9.c
There is a limit on cash withdrawal and we will tell you about this limit. We may change the limit on cash withdrawals at any time and will tell you about the charge.

nomoneytoday

You have to pay off cash withdrawals by the next statement date.
Using any CC to withdraw cash is generally not a good idea anyway.

i.e. a 2-3% charge, higher interest rate, negative payment hierarchy and some banks will cut your limits..