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What is the AmEx Send and Split and How Does It Do Its Work?
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What is AmEx Send and Split? How does it Work?
The feature lets you send people money with no transaction fees, or divide the bill inside the AmEx mobile application.
Written by Melissa Lambarena Lead Writer | Credit cards, credit cards, Melissa Lambarena is a lead writer on the credit cards group at NerdWallet. She has been a passionate writer covering the subject of credit cards for more than six years. Her previous work experience spans nine years of experience as content creator for various sites and publications. With her efforts, she aims to assist readers in extracting the value of credit cards for financial goals such as increasing their budgets, establishing credit, traveling to their dream destinations and repaying debt. She focuses on these subjects and others in and her Millennial Money column featured in The Associated Press. Her work has also appeared on The New York Times, Chicago Tribune, The Washington Post, USA Today and Yahoo Finance, among others. Melissa has a bachelor's degree of sociology, earned from the University of California, Los Angeles.
Updated October 13, 2022 8:11AM PDT
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Its"Send & Split feature within the American Express mobile app lets eligible cardholders pay cash to or split purchases between, anyone Venmo or PayPal user for no additional cost.
If you're not carrying cash at the moment, or you're in a pinch it's possible to use your credit card, eliminating awkward conversations about how to split a bill and allowing you to pay off the charge at a more suitable time. More importantly, you can reduce transaction costs when you do so, save money.
This option is available only for U.S. consumer credit cardholders. This is how it works.
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Send & Split: The basics
As the name of the feature implies, there are two possibilities -- sending and splitting.
For either option it is necessary to sign up by accessing the AmEx app, going to the account tab and selecting the "Send & split" option. After you've enrolled, you'll need to link your Venmo or PayPal account to be able to transfer or receive money.
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How do I transfer money using 'AmEx Send'
You can transfer money using the AmEx app, Venmo app or PayPal app. If you choose any of these options, the money is routed via the "AmEx Send" account that is created automatically when you sign up for Send & Split.
Transferring money using the AmEx app
This feature lets you use your AmEx card to transfer money to anyone PayPal or Venmo customer , without incurring the standard fees that apply to credit card payments. (Normally when you try to use a credit card this way through PayPal or Venmo you'd be charged a fee of about 3%.)
You can add money to your AmEx Send account instantly with the help of your AmEx credit card and transfer it to any other Venmo as well as PayPal user. The funds you transfer will show as a credit on your card's statement and will be treated as a purchase. But, you won't get any reward points for the transaction. Conditions apply.
AmEx limits how much money you can deposit into your AmEx Send account. That amount is identified in the application as "Available to Add." AmEx says that it's determined by your card's "rolling 30-day limit for transactions between individuals that is contained in your card's member agreement," and is subject to AmEx approval.
Nerdy Tip
The majority of consumers who qualify can add up to $2,000 in the AmEx Send account. Its Platinum Card(r) of American Express can add up to $4,000 while the Centurion card could increase the amount to $5,000. The terms and conditions apply. You are able to send up to $10,000 per transaction using your AmEx send account. The transactions, too, are limited to a roll-over 30 day limit on transactions. Terms apply. PayPal and Venmo can also restrict the amount you can send.
Paying with the Venmo app or PayPal app
To send money via Venmo or PayPal you need to add funds to Your AmEx Send account to Venmo or PayPal and then pay money in the same manner as you would with these apps.
To pay for the transaction, switch the method of payment to an AmEx Send account. The balance that you're sending must exceed the value that's in your Venmo balance. Otherwise you'll be charged the Venmo balance will become the default method of payment.
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How do you split your purchases using 'AmEx Split'
If you choose this option you can purchase something using your credit cardand earn the rewards from the purchase -- - and then divide the cost with fellow Venmo and PayPal users. There is no cost to splitting purchases.
In the AmEx application, you can choose one or more purchases that you can split among 20 or more people. You can divide the cost equally or create a custom allocation. These people will receive a payment request through Venmo or PayPal like they normally will.
When they pay you back, you can choose whether you'd prefer the funds to be deposited directly into your credit card in the form of a statement credit or to a PayPal or Venmo account. Be aware, if you're not paid, you'll be responsible for the charge on the card. The original transaction may be subject to fees or interest. Terms apply.
For a hefty expense that you aren't able to pay in full, the amount of interest could chip away at the value of any rewards earned through the purchase. If this was the reason you were using to pay for the expense, it defeats the purpose. To keep your finances on track, only use this feature to split the cost of purchases between people you trust to repay you.
Nerdy Tip
AmEx Send and AmEx Split are compatible with any Venmo or PayPal user; they are not required the requirement to have American Express cardholders.
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The author's bio: Melissa Lambarena is a credit card writer at NerdWallet. She has had her work featured by The Associated Press, New York Times, Washington Post and USA Today.
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