New Amex statement credits

[maccaisking]

It is to do with money laundering legislation, and they need to comply. Provide the requested information and they will be satisfied of your bona fides.

I have a friend who loaded a M/Card cash passport with around 50 Coles Gift M/Cards from Fathers Day promotion and had this issue. After around 2 months of back and forth with M/Card (where he provided all info requested, including receipts for purchasing the gift M/Cards and the CC statements they were purchased with) M/Card's offer was to allow him to withdraw money. Due to dollar movements, after converting back to AUD from GBP this was a loss of about $120. He complained to Ombudsman, M/Card then agreed to refund original amount to him and cancelled the card. I suspect that regardless of the legitimacy of the VPAY loads this will end up the same, obviously excluding the issues with FOREX conversions.

For everyone that's got the email from Coles, how many vpays did you load onto your reloadable card and how have you been using the funds?

Mostly regular purchases at shops where AMEX not accepted. One overseas (online purchase) but given the request the issue appears to be with the loading, not spending.

 

[Dr Ralph]

My account is under review (new to amex) for ahem, some potential MS (I've learnt my lesson), and they bought up the fact why did I have so many 'refunds' from several retailers (they were all statement credits), had to explain to them the amex deals. Should be all good...i'll find out tomorrow.

Not sure what multiple sclerosis has to do with this situation.

 

[lovetravellingoz]

For everyone that's got the email from Coles, how many vpays did you load onto your reloadable card and how have you been using the funds?

I think the message is pretty clear that they are aware of people of people using their card to wash funds through it and that they not like it. Ozbargains and others probably caused a real spike in such usage. . So continue to use this way with the real tish of huge red-tape.


They no doubt prefer their normal clientele who get them and do not fully draw down on them.

 

[whatmeworry]

When I got a Coles MC it was a PITA all the documents they wanted. Amex online applications approved in 5 minutes.

 

[albyd]

I loaded 13 x $300 VPay. I made a $2200 charge to pay a supplier and had earmarked the rest for normal spend. Was going to be a good citizen & not do cash advances (wish I had now). Hopefully won't shut it down after we've proved we're legit. Time will tell.

 

[boomy]

When I got a Coles MC it was a PITA all the documents they wanted. Amex online applications approved in 5 minutes.

Guess you refer to different Coles MC and not the Platinum Reloadable which requires no documents.

 

[Plutonus]

Donate $50 or more to Red Cross and get 1,000MR points appeared on one of my cards this morning.

 

[Happy Dude]

Wow these "please explain" letters are being taken in good spirit. When Velocity asked the same of some its members, there were howls of protestation, condemnation and even legal threats. Interesting reactions for essentially the same thing.

 

[boomy]

Wow these "please explain" letters are being taken in good spirit. When Velocity asked the same of some its members, there were howls of protestation, condemnation and even legal threats. Interesting reactions for essentially the same thing.

I believe VA closed members accounts, some with hundreds of thousands of points in them without warning, bit different scenario to what we have here.
Those who were innocent and didn't participate in the family pool scam had every right to be angry.

 

[Mr_Orange]

Donate $50 or more to Red Cross and get 1,000MR points appeared on one of my cards this morning.

This popped up for me too one 1 card.

 

[TomVexille]

I believe VA closed members accounts, some with hundreds of thousands of points in them without warning, bit different scenario to what we have here.
Those who were innocent and didn't participate in the family pool scam had every right to be angry.

AFAIK the accounts were suspended initially, and the members sent a "Please Explain" letter. Pretty much exactly like this situation. However I do know that there are members who were not innocent in the VA scenario. Those who actually had done nothing wrong had their accounts reinstated.

 

[get me outta here]

I got it too. What actually is a MR pt? Is it the same as a VA / QF points?

Donate $50 or more to Red Cross and get 1,000MR points appeared on one of my cards this morning.

 

[prozac]

I got it too. What actually is a MR pt? Is it the same as a VA / QF points?

Amex Membership Reward (MR) point

 

[Steady]

MR = Accent/Gateway/etc membership reward?

edit, twas a bit slow...

 

[get me outta here]

Amex Membership Reward (MR) point

MR = Accent/Gateway/etc membership reward?

edit, twas a bit slow...

Yeah, actually I'm a bit slow as I only have QF / VA points no MRs, so, still not sure how MRs work in that regard.

 

[Happy Dude]

I believe VA closed members accounts, some with hundreds of thousands of points in them without warning, bit different scenario to what we have here.
Those who were innocent and didn't participate in the family pool scam had every right to be angry.

Closed accounts without warning? I thought it was more like "suspended until you provide legitimacy or we'll close". Isn't that precisely what's being asked here by Coles?

I see plenty of innocent parties here too but not the anger. Mild terseness maybe, at having to jump through a hoop, but nothing like the "how very dare they" aimed at VA.

 

[prozac]

Yeah, actually I'm a bit slow as I only have QF / VA points no MRs, so, still not sure how MRs work in that regard.

Membership Rewards is the Amex scheme, explained here - https://www.americanexpress.com/au/content/rewards/?inav=au_menu_rewards_mr_info

 

[prozac]

Is this the one boomy? https://financialservices.coles.com.au/prepaid-cards/coles-reloadable-mastercard
You have loaded VPay onto it?
Can't see they would have any complaints if you began spending with it in Coles.

 

[andye]

Closed accounts without warning? I thought it was more like "suspended until you provide legitimacy or we'll close". Isn't that precisely what's being asked here by Coles?

I see plenty of innocent parties here too but not the anger. Mild terseness maybe, at having to jump through a hoop, but nothing like the "how very dare they" aimed at VA.

I think all the CRLMC 'please explains' know they are playing a game. Suspect most have an order of magnitude less at stake. Probably at least as much hassle though

 

[albyd]

Is this the one boomy? https://financialservices.coles.com.au/prepaid-cards/coles-reloadable-mastercard
You have loaded VPay onto it?
Can't see they would have any complaints if you began spending with it in Coles.

I agree especially if we're spending for retail purchases where they earn a merchant fee (which is why it also awards FB points) as opposed to doing a cash advance as soon as the VPay hits the account and giving the impression of a washing machine rather than an honest attempt to consolidate small card balances. The VPay expires I had were longer than the expiry for my Reloadable MC.