American Express and PayPal Launch Amex Send & Split
American Express and PayPal have teamed up to launch a new feature for Amex cardholders. I already wrote about it a few days ago, but today they came out with the official announcement and more details on how to enroll.
Send & Split makes it possible for eligible U.S. Consumer Card Members to send money to any other PayPal or Venmo customer. You can do so with more flexibility, right in the American Express® App. Plus, Card Members can also split their purchases with PayPal and Venmo customers. They can also get paid back directly to their Card, if they choose to.
Amex Send & Split works seamlessly, whether paying family back for a group gift or splitting expenses with a friend through PayPal or Venmo. It marks another way American Express is making it more convenient for Card Members to manage their finances. And it is all done from the Amex app.
Amex Send & Split
Here’s what U.S. Consumer Card Members can do with Amex Send & Split:
- SEND MONEY:
- Now, U.S. Card Members can send money to friends and family in the U.S. via PayPal or Venmo, without paying a fee. When they enroll in Send & Split, an Amex Send™ Account is set up for them automatically. They can add funds to that account any time with their American Express Card and send money to any other PayPal or Venmo customer.
- SPLIT PURCHASES:
- With Amex Split™, after U.S. Card Members make a purchase on their Card for a shared expense – such as a holiday gift for your Mom that you are splitting with your siblings – they can seamlessly split it with other Venmo and PayPal customers and get paid back directly to their Card as a statement credit. In the Amex App, they choose any pending or posted purchase that they’d like to split. American Express can split up the purchase amount evenly for them, or they can adjust the individual portions, so everyone is requested to pay just their portion.
- U.S. Card Members can track those requests right in the Amex App to see who’s paid them back (and who hasn’t) giving them a consolidated view of their spending and splitting. Best part, even though they’re splitting the purchase, the Card Member earns all the rewards for the purchases you split in the same way you earn rewards for other purchases.
How to Enroll
You can enroll in Amex Send & Split in three easy steps:
- Log in to the Amex App, and click on the Account tab.
- Select Amex Send & Split and enroll.
- Log in to your Venmo or PayPal account to link.
You can find more information here as well.
Fine Print
- Prepaid Cards, American Express Corporate Cards, American Express Small Business Cards, American Express-branded cards or account numbers issued by other financial institutions and American Express Cards issued outside of the United States are not eligible Cards.
- You may use Send & Split with an Additional consumer Card that is issued in the US by American Express National Bank and is not cancelled if you also have an eligible Card in the same Online Account and that Online Account is enrolled in Send & Split.
- You must have or create an account with Venmo or PayPal and link your Online Account to your PayPal or Venmo account to use Send & Split.
- Add Money transaction does not earn rewards and is subject to the Card’s purchase APR.
- PayPal charges a fee to Send to non-US recipients.
- With Split, you can split pending or posted purchases that are made with your eligible Card in your Amex App. Once you select a purchase to Split, select the contacts you want to request to Split with.
- Choose to get paid back as a statement credit or to your linked Venmo or PayPal account.
- Split credits to your Card account apply when we receive confirmation that the Split request was completed but may take 24-36 hours to post to your Card account.
- You earn rewards for purchases that you split in the same way that you earn rewards for other purchases.
Guru’s Wrap-up
This should be a useful options that makes it easier to send money through PayPal or Venmo. It gives you the option to send money now and pay for it later. Transactions show up on your card as a regular transaction. You don’t get charged any fees from PayPal or Venmo. But, these charges will not earn rewards and are subject to the Card’s purchase APR. When you receive money, you can choose to get paid back as a statement credit to your Card account (a Split credit) or to your linked Venmo or PayPal account.
