Ways to send money online with American Expressw
American Express cards allow you transfer money to other bank accounts using a number of ways. You can use any company that lets you make online transfers to other people. No matter where the recipient lives, your money will reach him very quickly and the amount will be subtracted from your AMEX card.
Visit the website
Visit the website of a money transferring company that accepts American Express cards, for instance PayPal, Western Union, or Xoom.
2 Register on the website
Register on the website. Click the “Sign Up” button and fill out the registration form. Besides your name and contact details, the form will also ask for your AMEX card number.
3 Select the country
Select the country or the state to which you are transferring money. You can transfer money internationally or within the United States.
4 Choose the method
Choose the method by which the recipient is going to receive the money. You usually have the option of “Bank Deposit” or “Cash Pickup” from an agent location. Choose bank deposit since you are transferring directly to a bank account.
5 Enter the amount
Enter the amount of money you want to send in the box that says “Amount.”
6 Click Submit . ”
7 Read the fees
Carefully read the fees as shown by the website. This fee will be charged on your AMEX card in addition to the amount you are transferring.
8 Click Submit for transferring the amount
Click “Submit” for transferring the amount.
Can i send money online with American Express?
Yes ,you can do very easily as explained above. Just link your AMEX to PayPal, Venmo or some other peer to peer payment service and then you can use your AMEX card or any other card to send money.
Please note that using a credit card might cost you or the person you are sending money to up to 4% in fees, so you’d be better off transferring the money directly from your bank, which you can also link to PayPal, Venmo or to most of the peer to peer money transfer services out there.
Normally linking your bank account wont cost you anything in fees and charges to move money. There are some exceptions where fees are charged such as business transactions, or sometimes foreign transactions. using your bank account will be an increased risk to you personally if someone accesses your account so keep logged out and passwords safe.
If you use a credit card you get all the fraud protections associated with the card, but you or the recipient will likely be paying fees for the convenience.
Some of the card issuers may end up equating your PayPal or Venmo usage as equivalent to a cash withdrawal at an ATM and charge you daily interest fee associated with an ATM withdrawal.
Please check out as they could very well start doing it without notice. Similar to what happened with Coinbase charges during the height of Crypto mania, when individuals were buying Coins against their credit on Coinbase.
Advantages Of Sending Money Overseas
✔Send money internationally directly from a bank account or credit card, using a PC.
✔Send money overseas to emerging markets with ease.
✔FX can be handled by the card or service provider – no need for multiple currency accounts, or pre-funding money transfers in minor currencies.
✔Online money transfer services can be integrated with invoicing and accounting software, reducing the need for manual reconciliation and streamlining cash flow management.
Sending Money Online using American express help Businesses:
✔Selling goods and services through online marketplaces or directly to customers in foreign countries, and want to accept payment in multiple currencies.
✔Having – or want to develop – supply chains covering several countries or continents.
✔Needing to send money to subsidiaries and partners, or remit profits back to parent companies located in foreign countries.
✔Having employees and contractors in multiple countries linked by the Internet and telephone.
✔Using migrant workers, who want to send money overseas to their families and friends.
✔Needing to handle cash flow in multiple currencies efficiently and cost-effectively.
Points To Consider
✔Sending money online to foreign countries can still take several days, depending on settlement method and if a number of correspondent banks are involved.
✔Money transfer providers have to comply with know-your-customer and anti-money laundering regulations. The checks required can slow down money transfers. Central bank RTGS systems such as the RBA’s may incorporate streamlined processes that speed things up.
“SWIFT’s member banks will need to ensure not only that their software is secure, but their employees and partners are trustworthy. For in the end, systems are only as secure as the people who use them.