AMEX not accepted or surcharge

[ejb]

Just on this, I bought 2 pairs of new glasses from Specsavers recently - ended up costing me $600 after the (meagre) private health fund rebate.

$600!

I thought they were meant to be cheap.

I have never been offered points when Amex has been rejected. Good score.

ejb.


Sent from my iPhone using AustFreqFly

 

[drewbles]

$15m Rupiah right?

Zimbabwean dollars?

 

[Flashback]

Just received an e-mail from AMEX

Dear Flashware,

Ever been charged extra for using your American Express Card? Rest assured, we're working with thousands of businesses all over Australia to change this practice.

We're happy to announce that you can now use your Card at places like oo.com.au,
Virgin Mobile, Workout World and many others without paying an additional surcharge. Included below are just some businesses that now warmly welcome your Card.

Visit americanexpress.com.au/map to learn more about surcharging and search for other businesses that accept your Card. Thanks to the steps taken, you'll start to see that your Card is now more welcome at a lot more places.

Note the URL redirects to http://www.amexmapping.com/Map.aspx?Australia which is currently giving an error.

 

[ChrisFlyer]

I called AMEX this morning to setup the facility for a new business of mine. They originally offered a ridiculous 2.75%+GST, but upon mentioning that I wouldn't plan on surcharging if they were prepared to offer a lower rate, they changed their offer to 1.95%+GST for the first $50k of AMEX charges per year, so long as I was willing to sign a form saying I wouldn't surcharge.

 

[wxxnxs]

I called AMEX this morning to setup the facility for a new business of mine. They originally offered a ridiculous 2.75%+GST, but upon mentioning that I wouldn't plan on surcharging if they were prepared to offer a lower rate, they changed their offer to 1.95%+GST for the first $50k of AMEX charges per year, so long as I was willing to sign a form saying I wouldn't surcharge.

With 1.95% is still high, my previous boss business gets much better deal with his bank, I believe is ANZ, it charges 1.38% on AMEX and 0.78% on v/m. Never sign up any deals with AMEX directly coz you will be charged at higher rate.

 

[markis10]

With 1.95% is still high, my previous boss business gets much better deal with his bank, I believe is ANZ, it charges 1.38% on AMEX and 0.78% on v/m. Never sign up any deals with AMEX directly coz you will be charged at higher rate.

Not sure if its still current but their settlement times were woeful as well, they are not exactly cashflow friendly.

 

[ChrisFlyer]

I have received a quote from ANZ (I asked for quotes from pretty much every bank - and was rather surprised to see the difference between them), and ANZ's rates were mid-range when compared to all the other Visa/MC I've received... They also wanted longer settlement times, higher terminal rental, extra transaction fees (fixed fee + % fee + 5c data"/because we can" fee)... So I ignored them pretty quickly! On another note, Bank of Queensland wanted almost twice as much as CBA for Visa/MC, charged double the mobile terminal rental for a worse terminal (which can't sell phone recharge cards, read the chips on Visa and MasterCard, or accept a PIN for Amex and Diners...), and their rate for EFTPOS/Cash was almost double too! They also had many other ridiculous fees, including an application fee (CBA waived), MOTO monthly access fee (no fee from CBA), "annual participation fee" (only ~$10 from CBA), "key authorisation request fee" (free from CBA), etc etc etc... It makes you wonder how banks like this stay in business!

Both CBA and Amex have offered next day settlement (forgot to mention - Amex originally offered settlement 3 business days later, but offered next day settlement as part of the no-surcharge deal), and the lowest rates I've found (below 1% for Visa/MC)... everyone else wanted much more! For example, BWA offered 1.5% for all Visa/MC, and seven day settlement time... I told them I'd already received better offers, and they tried to say "that's not possible"... despite having the written quotes in front of me! haha

And @wxxnxs - I wasn't aware you could sign up for Amex through your bank? I always thought you did that directly through Amex, and then just advised your bank of the 979 merchant number? It's how I've always done it in the past when doing it for work (and my employer uses ANZ terminals)

 

[wxxnxs]

And @wxxnxs - I wasn't aware you could sign up for Amex through your bank? I always thought you did that directly through Amex, and then just advised your bank of the 979 merchant number? It's how I've always done it in the past when doing it for work (and my employer uses ANZ terminals)

Well, I don't know much details about that, the only thing I could remember is the rate my previous boss got charged, because I suggested surcharge a little bit for AMEX if the bank charges higher commission but he refused as the bank doesn't charge that much. The deal he got might be long time ago, now probably has been changed.

 

[iluvmyamex]

I have received a quote from ANZ (I asked for quotes from pretty much every bank - and was rather surprised to see the difference between them), and ANZ's rates were mid-range when compared to all the other Visa/MC I've received... They also wanted longer settlement times, higher terminal rental, extra transaction fees (fixed fee + % fee + 5c data"/because we can" fee)... So I ignored them pretty quickly! On another note, Bank of Queensland wanted almost twice as much as CBA for Visa/MC, charged double the mobile terminal rental for a worse terminal (which can't sell phone recharge cards, read the chips on Visa and MasterCard, or accept a PIN for Amex and Diners...), and their rate for EFTPOS/Cash was almost double too! They also had many other ridiculous fees, including an application fee (CBA waived), MOTO monthly access fee (no fee from CBA), "annual participation fee" (only ~$10 from CBA), "key authorisation request fee" (free from CBA), etc etc etc... It makes you wonder how banks like this stay in business!

Both CBA and Amex have offered next day settlement (forgot to mention - Amex originally offered settlement 3 business days later, but offered next day settlement as part of the no-surcharge deal), and the lowest rates I've found (below 1% for Visa/MC)... everyone else wanted much more! For example, BWA offered 1.5% for all Visa/MC, and seven day settlement time... I told them I'd already received better offers, and they tried to say "that's not possible"... despite having the written quotes in front of me! haha

And @wxxnxs - I wasn't aware you could sign up for Amex through your bank? I always thought you did that directly through Amex, and then just advised your bank of the 979 merchant number? It's how I've always done it in the past when doing it for work (and my employer uses ANZ terminals)

BE WARNED !!!!

One thing I want to add, just be carefull going with the cheapest bank quote. I signed a deal at .79% for Vi/MC - However, my fault for not reading the small print...... After a few months I picked up the bank were charging me higher fees depending on the card type........!!!!! when I rang to query I was told Premium, Commercial and International card all attract higher fees!!!!!!!!!!!!! My problem is nearly 90% of my card transactions fall into this category.... So now I need to weigh up do I wear the average fee of around 1.6% or pay the $750 termination fee!!!!

 

[ChrisFlyer]

Thanks for the warning They did however supply me with a very comprehensive quote (14 different rates for Visa/MC depending on card type). In summary, standard Visa/MC is 0.98% (which I predict will be the majority of cards), manually keyed are 1.14% for V and 0.98% for MC, premium cards (platinum, visa signature etc) are 1.53% and 1.55%, business/corporate cards were 1.83% and 1.77%, and international was 2.71% for both. I don't foresee any international card use for a very long time, and the rate AMEX quoted me was only 0.12% higher than corporate Visa/MC - and I expect the majority of AMEX charges to be on corporate cards... So not a bad deal for a business that was only created 6 days ago with no previous turnover! haha

 

[edman]

I've just gone on to the same deal as you Chrisch for Amex, for my accounting practice. Interesting note though, they told us when we signed up that the $50k limit would not apply so we can charge as much as we like for the rate quoted.

What kind of business are you in? My restaurant has .69% across all visa and mastercards with CBA. There is a delayed settlement of 2 days but only because I choose not to bank with them.

 

[ChrisFlyer]

They told us when we signed up that the $50k limit would not apply so we can charge as much as we like for the rate quoted.

Nice work!

Mine is generally corporate entertainment and event management - although I doubt I'll see >$50k/pa on Amex alone (at least not for the first few years anyway), so that clause doesn't really bother me.

 

[Keith009]

AMEX acceptance rates are far higher Stateside (well, it's AMERICAN Express after all). Most everywhere were more than happy to accept AMEX, even the little mum and pop sandwich shops around the office where my transactions never exceed $5.

The only exception to this was Blue Bottle Coffee Co. But between the need for points and the urgent daily need for some decent (comparatively, of course) coffee, the latter desire won out...

 

[ChrisFlyer]

Speaking of international use, I'll be travelling to Italy and the UK early next year (and to Switzerland just for a day), and am curious what Amex acceptance is like over there.

I've heard that in the UK it's generally pretty good, but was told be aware of potential issues at unattended kiosks and a few smaller merchants who can only process chip cards. Having said this, are there any other major issues with Amex in the UK?

Having said that, I have absolutely no idea what acceptance is like in Italy. I'll be looking to use Amex in hotels (mostly 4-5 star, haven't decided exactly which ones yet), restaurants, cafes, tourist attractions, perhaps some souvenir shops, and for food/drinks at the airport in Rome. Can anyone who has been shed some light? Also, do they have minimums and surcharges like we often have in Australia, or is it more that they either accept it for everything, or just not at all?

Many thanks

 

[ComeFlyWithMe]

Having said that, I have absolutely no idea what acceptance is like in Italy. I'll be looking to use Amex in hotels (mostly 4-5 star, haven't decided exactly which ones yet), restaurants, cafes, tourist attractions, perhaps some souvenir shops, and for food/drinks at the airport in Rome. Can anyone who has been shed some light? Also, do they have minimums and surcharges like we often have in Australia, or is it more that they either accept it for everything, or just not at all?

I have travelled to Italy at least 3 times in as many years and never had an issue using my Amex at hotels, restaurants, etc. and with no surcharges (as goes for most of the rest of the world). I take a linked MC or Visa Debit just in case however.

 

[kamchatsky]

Just got a letter from Medibank Private. They will no longer accept Amex for payment from 24 September 2010. Only VISA and Mastercard will be accepted.

 

[oz_mark]

Just got a letter from Medibank Private. They will no longer accept Amex for payment from 24 September 2010. Only VISA and Mastercard will be accepted.

Gaah, I guess they'll be asking for a new card number from me soon.:evil:

 

[kamchatsky]

Gaah, I guess they'll be asking for a new card number from me soon.:evil:

They already have for me! Of course, they said that "this decision has not been taken lightly ....". Well they have been increasing my premium year to year and cut their benefits!

 

[serfty]

Just got a letter from Medibank Private. They will no longer accept Amex for payment from 24 September 2010. Only VISA and Mastercard will be accepted.

No letter received here as yet ...:-|

 

[ric_melb]

Oh looks like I will be getting one also.
You really would think that Medibank could negotiate a rate that suited all parties, including the customer.