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Any options in UK for boosting XPs?

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Old Jul 24, 2019, 4:45 am
  #31  
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I think you might need to have quite a bit of spare cash floating around if you follow through with this option. Just the bureaucratic fiddle of setting up a bank account in a different country is enough to put me off big time, never mind the 60XPs. And you have to watch that they don't think it is a speculative account, otherwise you're likely to get refused. Good luck with it all and do post back about how it goes.
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Old Jul 25, 2019, 4:05 pm
  #32  
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Originally Posted by Concerto
I think you might need to have quite a bit of spare cash floating around if you follow through with this option. Just the bureaucratic fiddle of setting up a bank account in a different country is enough to put me off big time, never mind the 60XPs. And you have to watch that they don't think it is a speculative account, otherwise you're likely to get refused. Good luck with it all and do post back about how it goes.
Thanks. The final challenges for me with this are as follows:
1. When are XPs awarded? Are they awarded immediately, after minimum spend or at end of the first year?
2. How long to I need a Dutch bank account for before applying? And do I need one on an ongoing basis?

I can easily spend on a EUR account most months and achieve minimum spent requirements. And I can justify the relevant level (probably Gold initially) based on benefits. Howvee I've no desire to pay a standing/recurring charge each month to have a bank account In NL if it's needed in long term.
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Old Jul 25, 2019, 5:53 pm
  #33  
 
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Originally Posted by The doomed
1. When are XPs awarded? Are they awarded immediately, after minimum spend or at end of the first year?
You should receive a welcome bonus of 60XP upon approval of your card/account application, and 60XP every year at the anniversary as long as you keep your card active and pay the annual fee.

Originally Posted by The doomed
2. How long to I need a Dutch bank account for before applying? And do I need one on an ongoing basis?
No restriction from what I heard. Someone I know opened her bunq account two days before applying for the Amex AF-KLM Plat card. And for the second question, Yes, you need to maintain a Dutch bank account with a Dutch IBAN from which all your monthly expenses on the card are withdrawn. You can change with another Dutch bank account but it has to be Dutch.

Originally Posted by The doomed
I can easily spend on a EUR account most months and achieve minimum spent requirements. And I can justify the relevant level (probably Gold initially) based on benefits.
I would say that you do your own analysis whether you are willing to go through the hassle of all the administrative part + paying 600€ per year (on top of bank account maintenance fees) in order to earn 60XP. Some find it worthy, others don't, as seen in the posts above with opinions from various FT members. You are the sole decision maker here.

Originally Posted by The doomed
Howvee I've no desire to pay a standing/recurring charge each month to have a bank account In NL if it's needed in long term.
In that case, forget all about this. It's hard to find a Dutch bank that will let you have a checking account for free, unless you have a relationship with them (i.e. having other products with them, such as an investment/trading/brokerage account etc... ). If you do, it means you are most likely a Dutch resident and this whole discussion is moot.

So far, the only Dutch bank that allows you to have a checking account and benefit from a Dutch IBAN is bunq, and the cost is 7,99€ per month.

It is therefore up to you to decide whether 7,99€ x 12 + 600€ = 695,88€ (at minima) is a good value for 60XP.

Cheers,
-vinnyc
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Last edited by vinnyc; Jul 25, 2019 at 6:16 pm
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Old Jul 26, 2019, 8:32 am
  #34  
 
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Originally Posted by vinnyc
No restriction from what I heard. Someone I know opened her bunq account two days before applying for the Amex AF-KLM Plat card. And for the second question, Yes, you need to maintain a Dutch bank account with a Dutch IBAN from which all your monthly expenses on the card are withdrawn. You can change with another Dutch bank account but it has to be Dutch.
No need to maintain a Dutch bank account. They only use it to verify if you actually have a Dutch account. But for monthly payments you can choose between the automatic authorized withdrawal option from a Dutch bank account, as you're mentioning, or just pay from any bank account you wish after receiving your monthly statement.
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Old Jul 26, 2019, 10:14 am
  #35  
 
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Originally Posted by arjen05
No need to maintain a Dutch bank account. They only use it to verify if you actually have a Dutch account. But for monthly payments you can choose between the automatic authorized withdrawal option from a Dutch bank account, as you're mentioning, or just pay from any bank account you wish after receiving your monthly statement.
I do not know if you can do this after one month, but they are definitely open to other ways of being paid in case you have some history with them.

The fact that the statement shows their bank account number tells something : you can transfer money to them.

The best is to talk to them. They are game for business and will be straightforward in their answers (quite Dutch ).

You only need to tell them : I want a Dutch Amex FB. I can open a Dutch bank account. How long do I need to keep it and what are the other ways of paying?
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