Strange interest charge after Amex payment

[Superhappykid]

I was recently charged interest for a late payment but the payment wasn’t actually late.

I used the American Express app and selected the “Pay balance on due date” option. On the due date, I received an email confirming they received the payment. However, the payment showed up on my statement two days later, after the due date.

I assume the interest charge was automatic because of that delay in the statement. I’ve since spoken to a customer service who confirmed it was a mistake and said they’d waive the interest.

I’m just curious:

1. Has this happened to anyone else?
2. How do you usually pay your credit card? I’m considering setting up an automatic direct debit for peace of mind, but I do like reviewing everything and confirming the payment manually through the app.

 

[kerfuffle]

How do you usually pay your credit card?

Via PayID

 

[Coops1]

I was recently charged interest for a late payment but the payment wasn’t actually late.

I’m just curious:

1. Has this happened to anyone else?
2. How do you usually pay your credit card? I’m considering setting up an automatic direct debit for peace of mind, but I do like reviewing everything and confirming the payment manually through the app.

Direct debit, it always works. You have about 25 days to review transactions before it is paid. Never not had a direct debit with a credit card

 

[Superhappykid]

Via PayID

Is this a direct debit as well? I think I have PayID set up, but I still need to go into the app and approve the payment before they can take the balance.

Direct debit, it always works. You have about 25 days to review transactions before it is paid. Never not had a direct debit with a credit card

Yes I think this may be the way. I'm trying to figure out if it was a freak incident or if this bug occurs often. If so I don't want to go through the headache each time it does.

 

[Coops1]

And it is always worth contacting Amex and asking them to waive the interest.

 

[sudoer]

Had the same issue this month. I believe @georgie23 did also?

Was your payment due on the 8th but didn't come out until the 11th? Could be a systemic issue with these dates.

 

[Franky]

I was recently charged interest for a late payment but the payment wasn’t actually late.

I used the American Express app and selected the “Pay balance on due date” option. On the due date, I received an email confirming they received the payment. However, the payment showed up on my statement two days later, after the due date.

I assume the interest charge was automatic because of that delay in the statement. I’ve since spoken to a customer service who confirmed it was a mistake and said they’d waive the interest.

I’m just curious:

1. Has this happened to anyone else?
2. How do you usually pay your credit card? I’m considering setting up an automatic direct debit for peace of mind, but I do like reviewing everything and confirming the payment manually through the app.

Not for some time as I relied on manually paying a few days prior to it being due, and had the same issue occasionally. I now have all of my recurring debts paid by DD on the day due and have had no hiccups since.

 

[kerfuffle]

Is this a direct debit as well? I think I have PayID set up, but I still need to go into the app and approve the payment before they can take the balance.

It's like paying someone; it's instant.

 

[serfty]

I use BPay on the payment date if it is a business day, otherwise I BPay on the last business day prior.

 

[sevenfourtyseven]

PayID on the due date. Better the $$$ in my offset. Every day/cent counts

 

[sudoer]

It's like paying someone; it's instant.

Depending on your bank and amount it may not be. For example, ING's max Osko payment per day is $5000. It was previously $1000.

What is Osko? | ING

Osko is a secure near real-time transfers and fast payments between participating banks and financial institutions. Find out more about Osko payment at ING.

www.ing.com.au

Payments above this amount take 1-2 days to clear.

PayID on the due date. Better the $$$ in my offset. Every day/cent counts

Scheduling the debit from the Amex side marks the balance as paid on the due date, but takes an extra day or two or remove from your bank account.

 

[jamesatfish]

I pay mine by PayID, typically get the notification from the Amex app confirming the deposit within 30 seconds of sending the payment.

Sometimes a big payment ($100k or more) takes 2-3 days extra to pass through to the available credit on the account, and requires Amex credit to manually input a support level for a few days even though it shows as a payment in the app right away.

 

[georgie23]

Had the same issue this month. I believe @georgie23 did also?

I did have same issues
Spoke to Amex today and they have agreed to waive the fee
Thinking back now it seems that I did pay using the App payment option on due date - I would say it is an Amex issue

I might change to 2 prior now just in case for me

PayID is pretty good too but I mostly do it all from the app

 

[sudoer]

Spoke to Amex today and they have agreed to waive the fee

Did they hint it may have been an issue on their end of just say they'll waive as a goodwill gesture?

 

[georgie23]

Did they hint it may have been an issue on their end of just say they'll waive as a goodwill gesture?

Said to me waive as goodwill gesture - as I had been Amex customer since 2004 - but this was at 09:30 this morning so if lots more people were reporting issue obviously a system issue not a me issue - I wonder if they would get in touch with everyone - probably not I think

 

[Flyfrequently]

Good suggestions above and welcome to AFF @Superhappykid
I pay with PayID on desktop not phone and get notifications via text and email.

 

[georgie23]

Mine was reversed this morning

 

[Superhappykid]

@sudoer @georgie23

I had the same issue, due on the 9th but didn't go in until the 11th. Mine was also waived. Must be a systemic issue.

Thanks to everyone else for chiming in. It seems the general consensus is people are paying manually via PayID or Direct Debit. Not as many people are doing the app "Pay when due" option. So I might rethink my strategy.

Thanks for the warm welcomes =)

 

[georgie23]

I have done the app thing for about 5 years - this is the first issue I can think of

 

[Be.au]

I use PayID - unfortunately with Macquarie you can't schedule payments to a PayID.