American Express allows you to transfer your credit card balance and there are several Amex users that often ask questions like Can I transfer money from my American Express card to my bank account?
The American Express company often abbreviated as Amex is actually an international corporation that specializes in payment card services with its headquarters located at 200 Versey Street in New York City's Battery Park City area.
This is actually an old company since it was founded in the year 1850 and is also one of the Dow Jones Industrial Average's 30 components.
The Company's emblem is that gladiator or centurion that appears on the company's well known traveler's cheques, charge cards and credit cards and this emblem was adopted in the year 1958.
With the said, in this article, I will show you how to transfer money from American Express card to bank account easily in a few steps.
Table of Contents
What is an American Express Card?
An American Express card often known as Amex card is an electronic payment card issued by American Express, a publicly traded financial services business (AXP).
Prepaid and credit cards are all provided and processed by this company.
Small businesses, individuals and corporate customers are able to make use of American Express cards in the United States and around the world.
American Express is one of the few companies in the financial services sector with the capacity to both issue and handle electronic payment cards.
American Express is a publicly traded provider of financial services.
Since it offers both credit lending and network processing services, it faces competition from a wide spectrum of businesses in the industry.
Like conventional lenders, it has the power to issue credit products, which it does so in the form of charge and credit cards.
Can I Transfer Money from My American Express Card to My Bank Account?
You cannot transfer money from your American Express Credit card to bank your bank account if your have an American Express Credit card but cash advances which implies taking money from an ATM may be available for you.
Before being eligible for a cash advance, you will probably need to join American Express Membership Rewards.
You can consider checking your online credit card account to see whether you can get cash advance and if possible what fees and charges will be charged.
It is necessary you have the back of your head that cash advances are not the same as balance transfers, which were previously accessible with some American Express credit cards.
Balance transfers allow customers to move debt from credit cards with high interest rates to cards with reduced interest rates.
Regardless of the card you now own, balance transfers might not be available if you have applied for an American Express credit card.
Despite this, using money transfer apps like PayPal, Western Union, etc. is the most affordable way to transfer funds from an American Express card to a bank account.
Although there will be a cost for the transfer on these sites, it won't be as expensive as it would be for cash advances.
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How to Transfer Money from American Express Card to Bank Account
With the help of money transfer apps, you will be able to transfer money to from your American Express card to bank accounts.
You can make use of any app that lets you send money to other people over the internet.
Regardless of where the recipient's resides, the money will reflect in the account instantly and the amount will be deducted from your AMEX card.
Below are the outlined steps to transfer money from American Express Card to bank account:
1. Visit the Website
You will have to visit the website your chosen American Express accepting money transfer app like for example PayPal, Western Union or Xoom.
2. Register on the Website
Once on the website for the app, create an account by filling in the registration form and then clicking the Sign Up button.
The form will also ask for your AMEX card number in addition to your name and contact information.
3. Select the Country
Here, you will have to choose the country or state where your recipient is. You can send money anywhere in the world or within the united states.
4. Select the Method
Choose the method for transferring the funds to the recipient.
At an agent location, you often have the option of "Cash Pickup" or "Bank Deposit."
Choose bank deposit if you are sending money directly to a bank account.
5. Enter the Amount
You will see a space available for amount, simply type the amount of money that you want to transfer to your friend or relative.
6. Tap Submit
Tap submit so as to submit the required information.
7. Take Note of the fees
Check the fees listed on the page carefully. This fee will be added to the amount you're transferring and charged to your AMEX card.
8. Tap on Submit to Transfer the Money
Finally tap submit so as to transfer the amount to the recipient.
Final Thoughts on How to Transfer Money from American Express Card to My Bank Account
American Express allows you to transfer your credit card balance and there are several Amex users that often ask questions like Can I transfer money from my American Express card to my bank account?
The American Express company often abbreviated as Amex is actually an international corporation that specializes in payment card services with its headquarters located at 200 Versey Street in New York City's Battery Park City area.
This is actually an old company since it was founded in the year 1850 and is also one of the Dow Jones Industrial Average's 30 components.
If you have been long searching for how to transfer money from American Express Card to Bank Account? I hope this guide was helpful to you as it contains a detailed explanation on how to do this.
Frequently Asked Questions
Can I use my American Express card to send money?
Yes! Eligible Card Members can use the American Express App to send money to any Venmo or PayPal user.
Can I withdraw money from American Express credit card?
Yes, your American Express® Credit Card gives you the flexibility to withdraw cash from any eligible ATM.
How much cash can I withdraw from my American Express card?
American Express® Green Card* – $3,000. American Express® Gold Card – $6,000. The Platinum Card® from American Express – $8,000.
Where can I withdraw money from my American Express card?
American Express cards can only be used at ATMs with an American Express logo.