AMERICAN EXPRESS FAQ'S

American Express (AMEX) FAQ’s:

Q: How much does it cost to accept the AMEX Card?

A: Flat Fee pricing is the first option. The Flat Fee plan lets a merchant accept the AMEX Card for only $5.95 per month. This is only available to merchants with AMEX transaction volume of less than $5,000.00 per year.

The second option is paying a simple discount rate for each transaction. You only pay American Express a small percentage of each transaction your customers make using the Card. There are no annual or monthly fees with this option.

Q: What does “Gross Pay” mean?

A: “Gross Pay” for AMEX transactions is the same as “Discount Rate” for Visa/MasterCard transactions. So Gross Pay is the fee that you pay AMEX for processing the transactions.

Q: Are there multiple options for paying my fees through AMEX?

A: Yes, there are. Below is a brief explanation of the options. For more information, follow this link: AMEX Terms & Conditions (Page 10, paragraph i.)

You have three choices of how you would like to pay your AMEX fees. These options are Flat Fee, Monthly Gross Pay, or Daily Gross Pay. In order to be eligible for either Gross Pay option, you must submit all transactions and charge data to AMEX electronically and participate in both the Electronic Pay program and the Three Days Payment Plan; however, you may not participate in the Flat Fee option as there is no discount rate to be charged.

The Flat Fee option is for merchants who expect to have less than $5,000.00 in annual AMEX sales, and who submit, authorize, and receive payments electronically. Unlike the Discount Rate pricing plan, you will not pay a percentage of each AMEX sale. Instead you will pay a monthly flat fee of $5.95 for all your AMEX sales, with no additional charges if you manage your account online.

For Monthly Gross Pay, AMEX will debit your bank account for the month’s collective discount fees due once a month. They may add a 0.03% fee to your discount rate for this service.

For Daily Gross Pay, AMEX will debit your bank account separately for the discount rate for charges at the time of each of their payments to you.

Q: Is there a fee for viewing my payments and submissions online?

A: No. This is provided as a complimentary service to merchants who accept the AMEX Card.

Q: How do I apply to accept the AMEX Card at my business?

A: You can submit an application online to accept the AMEX Card by going to the Apply to Accept the Card page. The application takes approximately 10 minutes to fill out. Once completed, you can receive your AMEX merchant account number instantly. Once you receive this number, you will need to call Eliot Management Group’s (EMG) customer service line to add it to your merchant account. That number is (800) 789-8897, option 3.

Q: How can I get AMEX decals to display in my store?

A: You can find and order free decals and other promotional materials (including business card holders, check presenters, tip trays) for your business on americanexpress.com. Click here to find the promotional materials you are looking for.