[Update: Nothing worth while here. Despite the claim on Amex’s landing page, you do not get rewards of any sort if you pay bills by check.]
American express just announced “Vendor Pay,” a joint venture with Bill.com that seems too good to be true: You can pay bills with your business Amex for only $1.99/transaction:
Only for American Express© Business and Corporate Card Members: receive, route, and pay invoices electronically when you create an account and enroll your card in Vendor Pay by Bill.com, all while earning the rewards of your Card.
…
Pay Bills by Checks: $1.99/transaction[Emphasis mine. Read the whole thing here.]
And there’s no monthly fee.
It doesn’t sound right. So I called Amex to find out more, but no one there knows anything. A supervisor in the Philippines told me that the only way to get details was by e-mailing someone in Corporate, but I insisted that she couldn’t be right. So I’m on hold again.
My guess at this point is that the Amex fees are in addition to bill.com fees, but who knows?
Stay tuned…
