About American Express
AmEx was founded on March 18, 1850, in New York. The company specializes in card payment and travel services. In 1958, they introduced the first American Express card, and since then, they have been innovating their offerings. They provide prepaid cards, gift cards, credit cards, business credit cards, corporate programs, certificates of deposit (CDs), and savings accounts.
Is American Express popular?
Initially, American Express worked with US online merchants, but today, their services are available in more than 160 states and territories worldwide. As of 2020, the company had recorded about 10.6 million merchants in the US alone. American Express offers the Platinum Card and other prime offerings such as concierge services. The company also issues non-travel cards at low annual fees. The majority of Amex cards come with lucrative rewards per swipe.
With a reputation of excellence, Amex comes highly recommended for esports gambling. The transactions are protected with advanced card security such as Card Identification Number (CID). Any American Express esports site proudly displays the AmEx logo at the cashier section.
Another way to know if this payment method is accepted is to rely on expert suggestions posted on this page. Amex cards earn extra points for their mobile usability. The app favors bettors who prefer betting through their smartphones.
Using American Express in online bookmakers
The American Express Bank is strictly an online-only bank and allows linking Amex cards to the savings account. Card owners can also link to other external bank accounts. But the linked accounts must be personal and active, bearing the same name on the Amex card.
When connecting to an external bank account, the customer will need to supply their account number and routing number. Gamblers enjoy higher transactional limits when funding their bets with Amex, allowing them to access VIP offers that eSport platforms announce regularly.
How to make a deposit with American Express
Incredible turnaround speeds and ease of processing go hand-in-hand with American Express deposits which proceed as follows.
- Register on one of the top American Express bookmakers
- Head over to the banking/payments/cashier area
- Look for the Amex logo among the provided payment options and click on it
- For a first-time deposit, the site will ask for the Amex card number
- Choose the country (where the betting site operates from)
- Enter the amount of cash to place as a deposit
- Follow the OTP and two-factor verification prompts
- Click submit, and the money is transferred straight away
Before making the transfer, it is crucial to check the bookmaker’s deposit limit because it varies from site to site. Amex charges between 2.5% - 3.5% of the deposit amount. Top American Express bookies do not charge deposits fees because the transactions are fundamental to the growth of their sites.
Many times, it is the eSports operator that pays for the transfer. Often, the bookies offer special bonuses for using American Express. This may happen if the platform pays lower fees for supporting this payment method.
How to make a withdrawal with American Express
American Express withdrawals at online bookies are quite rare. It is perfectly fine to withdraw winnings via mobile phone. Here is what it takes to cash out.
- Click the withdrawal button at the cashier section
- Choose American Express for payout
- Enter how much to withdraw
- Complete the verification
- Click the submit button
Withdrawals are not immediate but are relatively faster than most credit cards. Withdrawal times differ from one sportsbook to the next. But the money should be available to the player within 24 hours of approval by the bookmaker. Withdrawal fees are determined by the eSports bookmaker and the exact type of Amex card in use.
If the American Express eSports bookie doesn’t support direct withdrawals to Amex cards, there will be a variety of methods to choose from. Whether it is a credit card, e-wallet, eCheck, or direct bank transfer, there’s always a convenient solution. Customers need to open an account with these providers and transfer winnings from the bookmaker.
Pros and Cons of American Express
From cutting-edge online protection to travel insurance, Amex cards are renowned for great benefits. They offer bonus points that are redeemable for cash when shopping with particular retailers.
The Amex credit card uses chip technology that is updated regularly. This is a safer option than the typical magnetic strip embedded at the back of most cards. On the flip side, American Express doesn’t offer complete bank services, and customers cannot open a checking account.
- Competitive interest on the savings account
- No monthly fees
- No balance requirements
- Bonus point and cashback for shopping
- High-end security protocols
- Lack of a checking account option
American Express account opening process
Those who want to use American Express for eSports wagering should open a savings account and fund it. Because American Express adheres to anti-money laundering, the company asks for detailed information from people who want to open an account.
According to federal law, Amex must obtain and authenticate personally identifiable data that every user submits. All applicants must be at least 18 years of age. The following information is needed to open an account with American Express.
- Tax Identification Number- TIN, SSN, or ITIN
- Physical address
- Date of Birth
- Employment information
- Email address
- Phone number
How to set up an account
An online account comes in handy for online transactions such as eSports betting. Anyone with an Amex card or savings account can open an online account in these simple steps:
- Visit the official page of American Express
- Click ‘create an online account’
- Provide personal information
- Enter the 15-digit number displayed at the front of the card
- Input the 4-digit card ID
There are various accounts customers can open with American Express: High Yield Savings Account, Certificate of Deposit account, and Individual Retirement Accounts. These accounts must be funded within 60 days and 30 days, respectively, after approval. Failure to fund them will lead to closure.
American Express customer support options
American Express puts their customers first, and as such, they have a variety of communication channels:
- Live chat
- Help center
- Search engine
- Phone call
The help center is the main hub of information about Amex, where customers find answers to most of the frequently asked questions. The extensive section provides guidelines on account opening, initiating a dispute, card replacement, and credit score inquiry.
One can also talk to an online agent through the live chat feature, but they should log in with their user ID and password. At the bottom of the Contact Us page is a list of telephone numbers for inquiring about different services.
Most of them work 24/7, while a few are reachable at specific times of the day. Moreover, each Amex card has a phone number on the back, and the user can dial it anytime for assistance.
About the author
Born in Nairobi, Samuel Kiprop expertly marries the world of online casinos with the pulse of Kenyan life. Fusing urban flair with cultural wisdom, he's a name to know in East African digital gaming.