ED Magedson – Founder
American ExpressInternet USA
American Express Serve by American Express WOULDN'T RELEASE HOLD ON FUNDS AFTER TRANS CLEARED! Internet
I recently signed up for an Amex Serve card -- biggest mistake EVER.
I recently went to a rental car agency and rented a car with the card. The rental car agency informed me upfront that there would be a $500 authorization hold on the card until I returned the vehicle; fine. Fast forward... I return the car and settle the final transaction at $335. I expected that the hold would be released within a day or so, and the difference credited, since, after all, the transaction had been settled. One day goes by and I notice that the hold is still pending. On or about the 3rd day since settling the transaction, the $335 finally clears my account, but the hold was still pending for $500, which put my account into a negative state. I immeditely call the rental agency to verify whether or not they have anything to do with it. They, of course, insist that this is something within the control of my bank and that I need to speak to them about it. [continued below]....
I call Amex up, furious as all hell. The first rep -- who's Indian accent was thicker than the densest fog -- tells me he can't do anything about it and that the hold would stay on my account for 8-10 days. WHAT?! Mind you, their online interface says -- and I quote -- "On Hold money is temporarily deducted from your Available Balance until the final purchase amount is processed. At that time, the On Hold amount will be released and replaced by the completed purchase amount. For example, a gas station may deduct an On Hold amount until the final charge is processed and cleared." I immediately demanded to speak to a supervisor. The call was conveniently disconnected.
I call back again, and this time, when I finally reach an agent, after cautioning her as to my current mood and temperment, given the events that led up to me calling, she suddenly cannot hear me and I'm "breaking up real bad." The call was conveniently disconnected.
I call back a third time, and reach a "Kai," another Indian with a thick a*s accent. I caution her as to my temperment and demand immediate resolve of the situation. She indicates she can't do anything about it, to which I responded by demanding to speak to a supervisor. After waiting on hold for 46:43 -- no freggin kidding -- I was finally connected to a supervisor (I kid you not, I was seconds from terminating the call and trying again; glad I didn't).
"Dexter," the supervisor, explained that there is nothing that can be done to release the hold, and that I must wait 8 days for the funds to be released. I was beyond livid, hung up and filled out the paperwork to end my direct deposit and close my account. Never again. STAY Away from Amex. They don't care about you!
My best advice to anyone even remotely considering this card is to run, run fast in the other direction. It's not worth the inherent headache you'll get when you can't access your money. Believe me, I know!
This report was posted on Ripoff Report on 05/02/2014 10:41 AM and is a permanent record located here: http://www.ripoffreport.com/reports/american-express/internet/american-express-serve-by-american-express-wouldnt-release-hold-on-funds-after-trans-cl-1143551. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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