Avoid their foreign exchange department. They make it strangely painful to do business with them.
Having set up an fx payment on their system, for the past two weeks they have been holding onto my funds and not making the fx payment whilst they raised issues about the source of the funds.
After I provided assurances that the account was indeed a corporate account one of their staff sent an email to approve the transaction - apparently calling customers doesn't seem to be something they do - well at least not when issues like this would be perceived as urgent.
Days later someone overrode their other member of staff and said that in fact the transaction was not approved and that they returned the funds (could take up to 5 days to get them back - thanks AmEx), wasting my time, impacting my suppliers and causing me to incur charges at my bank for the return of funds.
If this sounds like the kind of fx partner relationship you'd enjoy give them a try - otherwise avoid.
American Express is rated 1.0 based on
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