American Express Membership Rewards - Membership Banking

Amex is offering MR points again.. Last time I signed up for this account I had many problems dealing with CS and for crediting my ACH deposits, but the 10,000 MR points were worth it. But I'm not sure if 5,000 MR points is worth it. Well, just wanted to let everyone know about this promotion.. Here's the link:

http://banking.americanexpress.com/mr/default.jsp?aexp_in=SIC01410001



[This message has been edited by eperaltaotero (edited 08-01-2001).]

I wouldn't do business with them again. Took weeks and weeks and repeated calls to get my ACH deposits credited. Although it is supposed to be an online service, there is no way to view live information or download current data in regard to CD accounts. There is no ability to communicate with them online (at least there wasn't a year ago) and their phone lines have long hold periods. When my CDs matured I had to jump through hoops to get them to wire me back the money (including talking to about three supervisors and a SVP in the home office that I tracked down on my first round of complaints) - and they still screwed it up each time. Its too bad, because they have so much promise.

I thoguht I was the only one who had problems with them.

They took my money, cashed it but never credited my account until repeated calls. How can a bank screw this up! Since I had no confidence in them, I did not use them. So, they just put my account dormant without even telling me (I continued to get statements...)

It really sucks.

What is a good online bank that offers cash rebates for ATM usage?

Steven

Another dissatisfied membership banker, here... Just cancelled my accounts (checking and money market), last week. Their card cannot be used at ATMs outside the US. Five unsuccessful attempts to wire money internationally (they faxed me a form, but my fax wire request was never 'acknowledged' by them). It sucks to have a rule that they only reimburse you for ATM fees when withdrawing from a checking account, but not from a money-market account... Overall, this was the worst bank, I have ever dealt with...

Two thumbs down, Membership Banking!
sp

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by username:
What is a good online bank that offers cash rebates for ATM usage?
Steven</font>

Consider the Schwab Access account.

-David

Membership Banking is more accurately named Bullsh*t Banking. This division is run by children, apparently. I would rather deposit my money with some homeless guy on the street rather than entrust it to American Express.

I opened an account with them for the MR bouns they were giving. Since I have a regular bank account with a local bank, I just kept my money with Amex for about a year, since they offered a decent rate and to meet the minimum required for the bonus MR points.

I then tried to close my account. NEXT TO IMPOSSIBLE! I was given the run around like mad and it took 15 phone calls over 2 months to close this account. Each customer svc rep would have a different story as to why the account wasn't being closed, etc.

Finally I got a nice woman with a clue, who really tried. I think her name was PJ and she was based in their Colorado or Utah office. If you have to deal with this crappy bank, at least ask for her, since she is the only adult around there.

Good luck compadre!

Out of my curiosity, how come you did not just write a check against the balance? Is that not allowed?

Thinking about closing mine too,

Steven

I've been banking with them since August 1999 and have been thrilled with every aspect including customer service. Each time I had a problem (deposit failing to post, and a credit card company claiming I'd never paid) they were quick to fax cancelled checks and followed up via phone once the problem was solved. The only draw back I've found is that they are not linked to PLUS or CIRRUS and thus you can't use the ATM card when traveling abroad.

Of course I moved to them from Bank of America where it took three statement periods to finally get a customer service person competent to actually shut down my account and this was after I went to the branch and told them to close my account and give me a check for the balance.

I thought about doing that, but some of my money was in their Money Market acct, so I thought it would be easier to just call them and be done with it.

Writing a check wouldn't have worked anyways. They said that after 4 months of inactivity on the acct, they mark it as inactive and you have to call them to reactivate it.

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by username:
Out of my curiosity, how come you did not just write a check against the balance? Is that not allowed?

Thinking about closing mine too,

Steven

</font>

That is another thing about Membership Banking. They made my account dormant without telling me. Were you told when they did this to yours?

Steven

What is a good online bank that offers cash rebates for ATM usage?

Try USAA. (www.usaa.com or 1800-531-BANK) It is absolutely free, great customer service, and they refund ATM fees. Since they started as a member owned bank to help servicemen, they not only allow withdrawals overseas, but are also experienced in dealing with any problems involving overseas issues. They also add no surcharge (except for the one charged by the visa network) for foreign currency withdrawals.

Another vote for USAA. They are going to be what AMEX used to be.

They seem to be doing better with those of us who do not always spend 365 days a year in the same country. Toll free numbers for most of the world, can send all of your mail from them to any address, you talk to competent people on the phone....

So is there anyway for non-US military people to join the USAA?

Steven

[QUOTE]Originally posted by username:
[B]So is there anyway for non-US military people to join the USAA?

Call them and ask.

Also, I have a friend who did not qualify for USAA membership who was issued a USAA credit card upon application, so at least some banking services are available to people who do not qualify for membership (the membership definitions are actually made by the auto insurance department of USAA, which was the origional USAA division).

I know many members who qualify because their fathers were an officers, but their children (grandchildren of the officers) who were signed up before turning 18 are members who do not actually meet the requirements.

They have different categories-

Members - Commissioned Officers of the US Armed Forces, Coast Guard, Public Health Service....

Associate Members(?) - NCOs, family members of members, etc. Can use all services, but do not vote or recieve part of the profits of USAA.

Some services are available to non members. It is very likely that banking is in that category.

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by eMailman:
They have different categories-

Members - Commissioned Officers of the US Armed Forces, Coast Guard, Public Health Service....

Associate Members(?) - NCOs, family members of members, etc. Can use all services, but do not vote or recieve part of the profits of USAA.

Some services are available to non members. It is very likely that banking is in that category.</font>

yes! you need not be a standard USAA member to be a USAA Federal Savings Bank customer.

for what it's worth, it's good to see others preaching the USAA good news...i've been a customer for many years and they do a great job with customers, whether they're in San Antonio or St. Ignace. they're already better than AMEX used to be.