Amex just froze, then canceled all my accounts.
Jun 22, 2012, 8:43 pm
#31
Join Date: Mar 2010
Location: IND
Programs: HH Diamond, Hyatt Diamond, SGC Gold, IHG Plat, Delta Diamond, Cont Gold, US Air Chairmans
Posts: 206
I am hopeful for you. They did something similar to me once, I was resentful about it but I do like their program and when they are not pulling crap like this it is all good.
It all worked out with the tax papers sent in and the explanation that I was buying things for work and rather than use the company cc> I was using mine to get the points. I still do today to the tune of over 1 mil a year. It is a great thing and has paid for several vacations - hang in there.
It all worked out with the tax papers sent in and the explanation that I was buying things for work and rather than use the company cc> I was using mine to get the points. I still do today to the tune of over 1 mil a year. It is a great thing and has paid for several vacations - hang in there.
Jun 23, 2012, 5:26 am
#32
Join Date: Mar 2009
Posts: 75
Wells Fargo does not have ability to show In Process outgoing fund on the same day the fund is going out. You have to wait till next day or even a day later to see the posting. Very annoying.
On the other hand, BofA online does show In Process fund going out - real time no less.
On the other hand, BofA online does show In Process fund going out - real time no less.
It has a real time notification about ACH/Direct Deposit alerts etc.
Jun 25, 2012, 8:44 am
#33
Join Date: Jun 2012
Posts: 22
I had a similar issue in the past when I had two checking accounts linked to my amex plat.
I was in the process of closing down one of the accounts but accidentally selected it when paying off the Amex (50k+ balance), of course the payment bounced. As soon as I noticed I made the payment from the correct account but they still kept trying 5 times to collect from the other account (resulting in $150 in overdraft fees). They then went ahead and froze my accounts (even after explaining that I simply selected the wrong account) and required a copy of my tax return before reinstating the account.
I was in the process of closing down one of the accounts but accidentally selected it when paying off the Amex (50k+ balance), of course the payment bounced. As soon as I noticed I made the payment from the correct account but they still kept trying 5 times to collect from the other account (resulting in $150 in overdraft fees). They then went ahead and froze my accounts (even after explaining that I simply selected the wrong account) and required a copy of my tax return before reinstating the account.
Jun 25, 2012, 9:25 am
#34
Join Date: Mar 2012
Location: SAN
Posts: 1,396
Out of curiosity, in the instances where AMEX has attempted to collect from the same account several times, do any of you know how far apart in time these collection attempts occur? If I were a business trying to collect, I would wait 24 hrs between attempt one and attempt two - in anticipation of the fact that the account does not typically update that quickly.
Jun 25, 2012, 9:46 am
#35
Join Date: Jun 2012
Posts: 22
Out of curiosity, in the instances where AMEX has attempted to collect from the same account several times, do any of you know how far apart in time these collection attempts occur? If I were a business trying to collect, I would wait 24 hrs between attempt one and attempt two - in anticipation of the fact that the account does not typically update that quickly.
Jun 25, 2012, 10:31 am
#36
Original Poster
Join Date: Jul 2008
Location: MSP
Programs: Delta PM, Marriott Plat, Hertz Pres
Posts: 3,649
Out of curiosity, in the instances where AMEX has attempted to collect from the same account several times, do any of you know how far apart in time these collection attempts occur? If I were a business trying to collect, I would wait 24 hrs between attempt one and attempt two - in anticipation of the fact that the account does not typically update that quickly.
Jun 25, 2012, 11:21 am
#37
Join Date: May 2002
Location: Arizona
Posts: 5,689
I do remember being told that once the payment "pull" was started it would try at least one more time automatically. Something else that needs to be corrected but I am sure some ACH expert will say it can not be done.
Jun 25, 2012, 12:17 pm
#38
Join Date: Feb 2011
Location: Southern California
Programs: Alaska MVP 75K, Delta Plat, Bonvoy Ambasador, Hilton diamond.
Posts: 527
I had the opposite experience with my business cent around 5 years ago in a similar situation to the OP. I selected the wrong account when paying online and bounced a $200K+ payment as a result...had someone call me up from AMEX the next day to inquire what was going on. I made payment on the spot from the correct account, no secondary attempt to collect from the first account was made.
...probably the process has changed since then for the worst. A simple phone call from CS could avoid these nightmare scenarios. I can see why they might want to FR since a bounced payment is a likely sign of financial instability more often than the "whops" I selected the wrong account. There are ways of doing a "soft FR" without the customers knowledge and only if that proves suspicious proceed to a full blown FR asking for assets & tax returns. They can look @ exposure on other cards via credit reports, home residence value vs mortgage debt, etc rather easily. "Reimbursed" charges have a funny way of looking like money laundering...probably why they asked to see the OP's taxes.
...probably the process has changed since then for the worst. A simple phone call from CS could avoid these nightmare scenarios. I can see why they might want to FR since a bounced payment is a likely sign of financial instability more often than the "whops" I selected the wrong account. There are ways of doing a "soft FR" without the customers knowledge and only if that proves suspicious proceed to a full blown FR asking for assets & tax returns. They can look @ exposure on other cards via credit reports, home residence value vs mortgage debt, etc rather easily. "Reimbursed" charges have a funny way of looking like money laundering...probably why they asked to see the OP's taxes.
Jun 25, 2012, 12:38 pm
#39
Original Poster
Join Date: Jul 2008
Location: MSP
Programs: Delta PM, Marriott Plat, Hertz Pres
Posts: 3,649
I had the opposite experience with my business cent around 5 years ago in a similar situation to the OP. I selected the wrong account when paying online and bounced a $200K+ payment as a result...had someone call me up from AMEX the next day to inquire what was going on. I made payment on the spot from the correct account, no secondary attempt to collect from the first account was made.
...probably the process has changed since then for the worst. A simple phone call from CS could avoid these nightmare scenarios. I can see why they might want to FR since a bounced payment is a likely sign of financial instability more often than the "whops" I selected the wrong account. There are ways of doing a "soft FR" without the customers knowledge and only if that proves suspicious proceed to a full blown FR asking for assets & tax returns. They can look @ exposure on other cards via credit reports, home residence value vs mortgage debt, etc rather easily. "Reimbursed" charges have a funny way of looking like money laundering...probably why they asked to see the OP's taxes.
...probably the process has changed since then for the worst. A simple phone call from CS could avoid these nightmare scenarios. I can see why they might want to FR since a bounced payment is a likely sign of financial instability more often than the "whops" I selected the wrong account. There are ways of doing a "soft FR" without the customers knowledge and only if that proves suspicious proceed to a full blown FR asking for assets & tax returns. They can look @ exposure on other cards via credit reports, home residence value vs mortgage debt, etc rather easily. "Reimbursed" charges have a funny way of looking like money laundering...probably why they asked to see the OP's taxes.
Jun 25, 2012, 9:51 pm
#40
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,760
ACH in or Fed Fund Wire In always show up real time but not the outgoing fund in the case of our low minimum monthly balance requirement account. It is $1K combined total across all linked products would avoid monthly fee - suits us fine as Wells Fargo is hardly our working account ever since it took over Wachovia. The services has deteriorated so much that we changed a recurring International Wire In to go to Chase account despite Chase account charges $15 while Wells Fargo is free (grandfathered from Wachovia but who knows for how long when most account benefits have term changed after the take over.)
Last edited by Happy; Jun 25, 2012 at 10:03 pm
Jul 6, 2012, 10:20 pm
#41
Original Poster
Join Date: Jul 2008
Location: MSP
Programs: Delta PM, Marriott Plat, Hertz Pres
Posts: 3,649
Update time. Got a call back from the FR department saying they have finished their review, and are re-activating all of my cards. My limit on my Delta Reserve card remains unchanged however they are placing a limit of 19.6k on my Plat (19.6? why not 20...seems like that would be easier...) Which works just fine for me, can pay it down quickly after any large charges.
Jul 7, 2012, 8:07 am
#42
Join Date: Jan 2011
Location: Mountain Time Zone
Programs: AS Million Miler/Marriott Lifetime Titanium/ IGH Ambassador
Posts: 5,990
Update time. Got a call back from the FR department saying they have finished their review, and are re-activating all of my cards. My limit on my Delta Reserve card remains unchanged however they are placing a limit of 19.6k on my Plat (19.6? why not 20...seems like that would be easier...) Which works just fine for me, can pay it down quickly after any large charges.
Jul 7, 2012, 9:48 am
#43
Original Poster
Join Date: Jul 2008
Location: MSP
Programs: Delta PM, Marriott Plat, Hertz Pres
Posts: 3,649
Amex said that my account was first flagged due to a string a high $ returns. Then once it was 'under the microscope' they began to want justifications for my high spend, etc.
Jul 7, 2012, 10:30 am
#44
Join Date: Oct 2007
Location: Frozen in Carbonite
Programs: UA Aluminum 0.6MM, Bonvoy Life Sentence, Hyatt Eliteist, AA Super Plutonium
Posts: 2,878
Update time. Got a call back from the FR department saying they have finished their review, and are re-activating all of my cards. My limit on my Delta Reserve card remains unchanged however they are placing a limit of 19.6k on my Plat (19.6? why not 20...seems like that would be easier...) Which works just fine for me, can pay it down quickly after any large charges.
Jul 7, 2012, 11:18 am
#45
Original Poster
Join Date: Jul 2008
Location: MSP
Programs: Delta PM, Marriott Plat, Hertz Pres
Posts: 3,649