Frequently Asked Questions
Safe and SecureThe FX International Payments team at American Express® will never ask you to via email to supply your confidential information or login details at any time. If you receive a suspicious communication asking you to do so, you should contact American Express immediately on 0800 472 353.
Please find some more information below to help you stay Safe and Secure:
What is Phishing?
To 'Phish' for sensitive financial information, fraudsters send fake emails, create bogus websites and make phone calls, pretending to be from a bank or credit card company. All are designed to deceive consumers into divulging personal, financial, or account information.
What does Phishing look like?
The nature of Phishing scams is constantly evolving. Currently, online/email Phishing is best described by the following characteristics:
Emails using company logos and familiar language reporting a problem and asking you to update your account information urgently by return email or by filling out a website form.
Emails with attachments asking you to install software which actually allows fraudsters to record your computer key strokes (called Keystroke Logging) and online activity.
Emails that contain typographical or grammatical errors.
Windows that pop up over a legitimate company's website asking you to enter personal information.
How do I know if an email or call from American Express is genuine?
American Express will never ask for sensitive account details by email. However, if we call you, we will ask a few security questions relating to your account, so we can be sure who you are. We will normally ask only for partial answers to these questions. Always consider whether the company would be likely to ask you for the kind of information being requested. If you are at all in doubt about the authenticity of the communication, contact us through the usual channels (eg. 0800 472 353).
What should I do if I have been targeted by Phishing?
If you receive an email relating to American Express that you believe could be fraudulent, immediately forward it to Anti.Phishing.Team@aexp.com. Please do not include your account number in the email. If you feel your American Express account information has been compromised, please contact American Express immediately by calling the number on the back of your Card.
What else can be done to stay safe online?
Banking safely online:
Make sure your computer has up-to date anti-virus software and a firewall installed. Consider using anti-spyware software. Download the latest security updates, known as patches, for your browser and for your operating system.
Before you transact online ensure that the locked padlock or unbroken key symbol is showing in your browser.
Be wary of unsolicited emails, known as phishing emails, requesting personal financial information. American Express would never contact you to ask you to disclose your PIN.
Ensure your browser is set to the highest level of security notification and monitoring. The safety options are not always activated by default when you install your computer.
EnrollmentDo I need an American Express Card to sign up for the FX International Payments service?
No, the American Express Card is not needed to open an FX International Payments account, nor is it required to make a transaction. We automatically withdraw funds from your authorised bank account each time you make a transaction.
Products and ServicesHow can I get notified of favorable exchange rates?
With FX International Payments from American Express, you can request to receive automated updates on currency fluctuations during a period of time. With Rate Alert, FX International Payments will send you information by text message, email or in your Inbox. This will allow you to capitalise on favorable exchange rates, avoid having to monitor the market constantly and allow you to have more time to manage your business and decrease your costs.
What foreign exchange products do you offer?
Currently, we offer wires and drafts in foreign currencies, including most exotic currencies. We also offer GBP Sterling wires / drafts into GBP value. We offer forward contracts for the purposes of locking in a foreign exchange rate for use at a later date, whether from GBP to foreign currency or foreign currency to GBP. We also offer an incoming wire service if you are planning to receive foreign currency payments from abroad.
Transactions & Customer ServiceWhat are your hours of operations?
You may initiate a transaction over the Internet 24 hours a day, 7 days a week. Our Customer Service line is available to assist you at 0800 085 3456 Monday through Friday, 24 hours a day (GMT).
How long does it take for the transaction to be completed?
Most transactions are fulfilled within 48 hours.
How does FX International Payments from American Express receive cover to make a wire transfer?
During account set-up, FX International Payments will set up an agreement with your bank that will allow us to electronically withdraw funds from your bank account. Subsequently, when your company requests a wire transfer, we will contact your bank on your behalf to withdraw funds to complete the transaction. Also, you can wire us the cover directly.
Do I need to set up a separate bank account just to be used for FX International Payments services?
No, there is no need to set up a separate bank account. We will electronically debit the wire transfer amount you requested from your existing bank account. You may also setup multiple bank accounts from which we can electronically debit your various wire transfers customised to your business needs.
Is there a minimum/maximum limit per transaction?
No, however we adhere to the UK government banking regulations and local banking regulations in foreign markets. If a transaction raises minimum/maximum issues, we will contact the account owner immediately to help in resolving it.
What if I submit a Transaction Request and I want to cancel it?
If we have not already completed your transaction, we will make every effort to accommodate your cancellation request. Otherwise, we will have to follow the applicable banking standards for recalls. You can also contact our dedicated Customer Service team at hours a day, 7 days a week. Our Customer Service line is available to assist you at 0800 085 3456 Monday through Friday, 24 hours a day (GMT). We will do our best to assist you with your cancellation request.