American Express Merchant Payments and Reconciliation FAQ

American Express will pay you the net value of each transaction. ….Once you’ve submitted your transaction, the number of working days before you receive payment will depend on your individual payment plan.

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American Express Merchant Payments and Reconciliation FAQ
What’s the easiest way for me to manage my account?
How much will I get paid?
When will I receive payment?
Why is my account in debit?
What should I do if my account is in debit?
your monthly statement explained
This box is used to communicate useful information to merchants such as details of new products and services.
If you wish to change your address details you will need to write to us on business headed paper at American Express Payment Services Ltd,
Department 23, Brighton BN88 1AH
Payee number: This is your American Express Merchant Number (At Hierarchy level if you are a chain), and your Business name.
Summary number: The 7 digit number which is generated by the terminal for each transaction processed where the customer pays by chip and pin.
Debit Gross: Total value of the transactions you have processed.
Service fee: Any fees we have charged you, most commonly the £1.75 paper statement fee.
Credit Gross: This denotes any refunds you have processed.
Net amount: The amount we pay you after all deductions.
Your bank sort code and account number.
A summary of the payments (settlements) you will have received from American Express during the month.
Grand total of all settlements and charges.
your monthly statement explained
Retained Discount Rate Credits – if you process a refund, whilst the customer will receive the amount in full, American Express will retain the
original fee applied.

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