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07-05-2016, 05:02 PM #1Senior Member
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Amex enters the room!
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-05-2016, 05:10 PM #2Senior Member
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AmEx has been offering splits and daily ACH products for a while. Splits have been offered by them for about 3-4 years now. Their ACH product is newer, but probably at least a year old.
"Nobody can make you feel inferior without your consent." -Eleanor Roosevelt
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07-05-2016, 05:11 PM #3A forum user
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There's nothing revolutionary about this new product. All it does is enable business owners to pay vendors with their Amex card to vendors that don't accept Amex.
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07-05-2016, 05:12 PM #4Veteran
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I have seen both of Amex's advance programs before.. Depending on the bank some require to pay it off some with take it into account when determining the gross holdback on the deal
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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07-05-2016, 05:17 PM #5Senior Member
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they do a fixed daily ach I've seen them multiple times for a while. I've seen them just get burned on a $500k 2 months ago.
Anthony Diamond
Underwriter
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07-06-2016, 07:10 AM #6Banned
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Amex enters the room!
Lol @ yesterday's Bloomberg interview and the valley girl AMEX rep. AMEX has been in the room for quite some time...
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07-06-2016, 01:11 PM #7Senior Member
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Keep in mind that they will not accept pay-off from third parties. Most merchants who have an existing balance don't realize this.
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