Autopay Question

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Green Member
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Location: USA

Autopay Question

Postby Huh » Tue Jan 21, 2014 6:00 pm

I'm considering signing up for Amex's Autopay, which is when Amex, each month, automatically deduct either the "Total New Balance", "Minimum Payment Due", or some "Fixed $ Amount" from my checking account to pay my Amex bill.

On the enrollment page, you can choose when (how may days (15-25) after statement closing date) the payment is to be made. Note that 25 days after statement closing date = due date.

Also, in the "Terms and Conditions", it states:
For purposes of the Program, business days are Monday through Friday. Holidays are not included. If the scheduled debit date is on a weekend or banking holiday, the debit will be made on the next business day.

The question I have is this: if I specify 25 days after statement closing date as the payment date (which happens to coincide with the due date), and the 25th day happens to be a Saturday, when will the debit be made and posted? Based upon my understanding of the Term and Conditions, the debit won't be made until Monday; hence payment is 2 days late.

I did an online chat and a phone conversation with Amex. They both said that the payment will be debited on the requested day (eg 25 days after statement closing date) and therefore not late. That contradicts Amex's "Term and Conditions". They can't point me to any written information that will corroborate what they said.

yes, I know that I can set the payment to be made 22 or less days after statement closing date to avoid this scenario; but I'm now curious what the real story is...

So what is your experience?

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Postby travisrauh » Wed Jan 22, 2014 5:41 pm

Hi Huh,

We will time stamp the payment as received on the 25th day regardless of what day of the week that is. The debit mentioned is from your bank account. So if your payment is due Saturday, we will start the process and time stamp it as received that Saturday, and we will actually receive the funds from your bank on the following Monday. Hope his helps to clarify!
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