Originally Posted by
rolexel
I too opened disputes for all my transactions since this past weekend. Amex rates are based on when the transaction posted, not the purchase date. And the rate they use is the one on oanda.com for the date of posting.
The CSR went thru mine and said all disputes got auto-resolved and the adjustments got posted to the system. She said it will take 48 hours to see them in the Amex app / website.
Some disputes I believe take 30+ days but some are automatically resolved after they submit. Ask CSR to open a currency rate discrepancy dispute in case they aren't aware what to do.
I called after reading your experience. The CSR first said the rate was based on the oanda rate on the transaction date. When I told him it was different from what AMEX charged me, he put me on hold for a few minutes and then told me they used the government rate of the prior business day. There was nothing he could do.
I mentioned others' (your) experience and asked to open a currency rate discrepancy dispute. He put me on hold for a few minutes again and then said he would do a manual adjustment for me. He asked me for the oanda rate, did a manual calculation for the difference, and posted it as a statement credit. He said there is no way the system could re-calculate the rate and adjust the difference automatically. I get that he implied this was a one-time exception because I have had the AMEX for many years.
Not a lot of money, but he knowledged it was out of principle, and it really does not happen very often.
Thank you for your pointer!