Amex won't take payment?

Long story short, Amex are cancelling all my cards because they don't think I'll be able to pay the balances off. (I.e. I've got a letter titled notice of default). (I went a bit wild on manufactured spending). I can and am trying to pay off all of the balances in full before the end of the 14 day period.

For some reason, I cannot pay of the cards with a debit card (even though I have done so in the past), but that's not really an issue. Yesterday I sent a bank transfer with the full statement amount, but I'm still waiting for it to show - this is making me nervous.

Basically, this thread is mainly for reassurance (because Amex cannot seem to give me anyway). However, I really don't want a default on my credit report when I am trying to pay the full balance well before the due date.

I feel like Amex are rejecting my payments... I presume they wouldn't? Also, the money has left my account, they probably just haven't processed it but as you can tell I extremely nervous about this!

Any reassurance or prior experience would be good. I assume the fact that the money has left via bank transfer is a good start because it must be in their bank account. Would that count as the money being paid off if they did try to put a default on my credit report?

Comments

  • chattychappy
    chattychappy Posts: 7,302 Forumite
    I'm a bit confused because you state that you've already received a default notice, but also talk about trying to pay on time and avoid a note on your credit file. Frankly I'm expert on default notices...

    But to reassure you, if you've paid by faster payments from your bank account, then indeed the payment should be received right away, even if not immediately shown on your statement.

    A made a payment to Amex this morning. The online system was updated about 5 mins later to show the new balance. Faster payments is quicker than paying by debit card.
  • amcr
    amcr Posts: 2 Newbie
    I believe the default notice is a warning, saying if the balances aren't paid in full within 14 days, then a default will go on to my account.
    A made a payment to Amex this morning. The online system was updated about 5 mins later to show the new balance. Faster payments is quicker than paying by debit card.

    So that's the issue. I made a faster payment last night. It still hasn't shown on my account, which is what is making me nervous. I phoned Amex and they don't seem to have any record of it. I double and triple checked the account numbers, sort codes and references were correct.... So now the money is in the ether somewhere?
  • Did they state your cards were cancelled/blocked?
  • bengalknights
    bengalknights Posts: 5,021
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    Does it show as sent on faster payments, sometimes can have a pending status.
  • Paul_DNAP
    Paul_DNAP Posts: 751
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    I seem to recall some chatter about AMEX not using faster payments fully/properly, in that the faster payment will make it faster into their bank, but it's still moves at a snails pace from their main receiving bank account to being assigned to your own individual credit account, it's certainly not an overnight job, keep checking and if it's not there in 3 working days then kick off.
    (Although I could be wrong, I often am.)
  • I have an Amex card and any payment I have made to them shows up instantly.
  • sparkey1
    sparkey1 Posts: 444
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    edited 27 July 2018 at 12:16PM
    First four digits of the amex card?

    Im asking so we can check that you have made a payment to the correct sort code and account number.

    In the meantime, I have just paid an Amex card by faster payments. I will repost once it shows as received online, although it does say it can take 72 hours to actually be posted to an account once sent.
  • sparkey1
    sparkey1 Posts: 444
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    edited 27 July 2018 at 12:27PM
    Just received the email from Amex confirming payment received. Its also showing as a processed payment. So that took about 10 minutes to update.

    So if your payments are not showing yet, call Amex and quote the sort code and account number, and reference you used to make the payment.

    The thing to check first, is that it has left your bank accounts first. Particularly if you have only just set up the faster payment as it may have been held temporarily for security reasons.
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