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Good evening,
I had my Amex closed after a financial review. This was due to be sending money on PayPal via FF.
My question is : does anyone have any experience of successfully reapplying after this has happened ?
I wasn’t going to try right away but in a few years.
Do you know for a fact is was because of PayPal FF, or is this your assumption.
I’ve never seen a case where AMEX have told the customer why the financial review was happening or what that review found to cause closure, so I’m just interested to know if you got any actual details from AMEX.
In answer to your question, I’ve seen a handful of people on this forum say they’ve successfully applied after a few months, and don’t think I’ve seen anyone say they were refused after a few months… But if you were refused, you may not be “bragging” about it on a forum, so the positive results may not be indicative.
If you do reapply sooner rather than later, please do come back here and let us know the result either way.
I called to query the financial review and they ran through every paypal transaction and asked me why I was sending via FF. So I’ve assumed this is why, ha ha.
I certainly will.
Any other success stories of reapplying would be great to hear.
Some people been getting seriously greedy with all these barclay card avios being thrown about as well. PayPal catching on now….
Interesting.
Presumably these were rather large PayPal transfers?
Friend of mine reapplied several days after his account got closed and was approved instantly. When my accounts were shut down they advised I can apply “whenever I want but best to wait a year”
Re. PayPal catching on, they most definitely are in my experience. On my account they now warn that cash advance fees will be incurred for FF transfers when using credit cards as payment source.
Being skeptical I did it anyway and one card was actually hit with a cash advance fee. (a card I’d used no problem till now)
Slightly off topic, but curious for my own sake.
Run a market research firm, we pay respondents in vouchers mostly, but offer PayPal as well. For the past few years, have made hundreds of payments using my Amex via PayPal.
Difference being, I have done so via ‘Goods and Services’, not F&F. So say, respondent is due 30 quid, I’d add 2 quid to the transfer to cover their fees.
How likely is it I’m falling foul of any rules here?
Ta
Slightly off topic, but curious for my own sake.
Run a market research firm, we pay respondents in vouchers mostly, but offer PayPal as well. For the past few years, have made hundreds of payments using my Amex via PayPal.
Difference being, I have done so via ‘Goods and Services’, not F&F. So say, respondent is due 30 quid, I’d add 2 quid to the transfer to cover their fees.
How likely is it I’m falling foul of any rules here?
Ta
I think you should be fine. The issue is sending F&F as PP doesn’t charge the recipient (so I guess, they are paying the transaction fee), whereas for G&S, the recipient is charged. Sending G&S, I would say is akin to buying something online where the merchant doesn’t take Amex, but does take PP, I don’t think either would have a problem with that as they are getting their fees.
@Jimbobster you don’t say if you are using an Amex business or personal card. If it’s the latter, obviously that raises different issues but in respect of the payments you mention they are, as you identify, charged a fee for which you add something, so may be OK.
Via the F&F route, PayPal doesn’t like it as they lose money on every transaction and Amex doesn’t like them either as it is a form of cash advance for which they aren’t paid and given fee arrangements with PayPal they also lose money when providing rewards. As a result, while there is no rule/term as such, both parties will only tolerate F&F transactions in moderation and from accounts for which they are not disproportionate. It would also appear that the toleration threshold is getting lower.
Friend of mine reapplied several days after his account got closed and was approved instantly. When my accounts were shut down they advised I can apply “whenever I want but best to wait a year”
Re. PayPal catching on, they most definitely are in my experience. On my account they now warn that cash advance fees will be incurred for FF transfers when using credit cards as payment source.
Being skeptical I did it anyway and one card was actually hit with a cash advance fee. (a card I’d used no problem till now)
Was his closed as a result of a financial review?
I did a £230 f&f that shows still pending. It’s the first I’ve ever done. Is it normal for it to still be pending?
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