Use Venmo to Split Amex Transactions with Friends with No Fees

 

One of the greatest benefits of owning an American Express Card is the ability to earn points. American Express cardmembers are usually the first to offer to put an expense shared with friends on their Amex card simply to earn points for their own personal use. Getting paid back from your friends just got a little easier if they have a Venmo account.

Of course, shared transactions require a little bit of math to decide how much each person owes based on the total price and number of people paying. Once you have been paid back by your friends, you have two choices. You can set aside the money to pay you Amex bill when it arrives or spend the cash now and pay for all the meals when the monthly statement arrives.

However, with American Express new Send & Split feature, the math and payments are easily handled. In partnership with Venmo and PayPal, Amex offers two different features, Amex Send and Amex Split:

On the Split side, it takes care of the entire reimbursement process for you and lets you keep all the Amex points earned from a transaction. You can split the purchase within the Amex app and have your friends reimburse you with the payment going straight to your Amex card balance.

The Amex Send feature lets you pay your friends through their Venmo or PayPal by using your connected American Express card. You will not be subject to any transaction fees usually charged by Venmo and PayPal for sending a payment using a credit card. Note: You don’t earn rewards for these transactions.

The Details

American Express Send lets you pay your friends and family members through Venmo or PayPal by using your Amex card. While Venmo usually charges a 3% fee when you pay someone using a credit card, you pay no fees (and earn no reward points from Amex). The transaction will appear like any other charge on your Amex card account. Note: You will be charged a fee if sending money to an international PayPal or Venmo account.

American Express Split lets your friends make a payment directly to your American Express card using Venmo or PayPal. All you have to do is link your Amex account to one of these services and you will be able to use the “Split It” feature the next time you have a shared expense. Your friends will receive a Venmo “payment request” and they can pay you back by using their linked bank account, credit or debit card. The only difference is that their payment will go right to your Amex account instead of to your Venmo or PayPal balance. This eliminates the temptation to spend their cash on something else.

Both of these services are free to use for all Amex cardmembers. The program is not included with small business or corporate cards like The Business Platinum Card. The only other requirement is that you have either a Venmo or PayPal account and must enroll in the Send & Split feature. You can enroll in Send & Split using the American Express mobile app.

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