Card fees
and charges
From annual fees to late payment penalties,
here's what you should know to encourage
good financial health.
This feature is only available to American Express® Business Platinum Card and American Express® Business Gold Card Members in the United Kingdom.
What are the different types of Card fees?
Here are some commonly used terms to remember.
Non-sterling transaction fee
When you use your Card to buy something in a foreign currency, you will be charged a non-sterling transaction fee. The fee covers the cost of converting the transaction from the foreign currency into sterling. And it's based on a percentage of the converted sterling amount.
Charges by sellers
It used to be common for sellers to charge extra for paying by credit card. But since 13 January 2018, these kinds of fees have been banned in the UK and should no longer be added to your purchase amounts. Keep in mind, though, that credit card surcharges may still be charged abroad.
American Express welcomed the ban and believed this decision has created a level playing field for consumers and will give them the confidence to use the payment method of their choice.
Charges when using a Card abroad
There are several types of fees to keep in mind, including:
- Commission charges.
- Non-sterling transaction fees.
- Non-sterling ATM withdrawal fees.
Always read your terms carefully to understand any potential Card payment charges before using your Card abroad.
Late payment fee
If you miss the due date for making your minimum payment, as shown on your statement, you'll be charged a late payment fee. The fee amount depends on your specific Card and terms.
Returned payment fee
If you make a payment to your Account that isn’t honoured by your financial institution, you may be charged a returned payment fee. This can happen when, for example, you try to pay off your bill with a cheque that bounces, or from a bank account with insufficient funds.
Not paying your Card fees can have an impact
Using your Card effectively can make payments more manageable, but it's important to be aware of the Card's terms to avoid additional charges and negative financial impact. If you do incur additional fees, try to settle them as soon as possible to avoid any further damage to your credit score, or bigger charges.
Having financial difficulties? We're here for you. Contact our specialist Financial Hardship team who can support you and try to find a solution that works for you.
