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New American Express Serve Monthly Fee of $1

ferganer 706 372 October 8, 2013 at 03:57 PM in Finance (3) More American Express Serve Deals
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Last Edited by oFlamingo October 9, 2013 at 07:37 AM
This is not a deal, but rather a heads up. For me, this is a deal breaker and I will be closing my account:

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"We are writing to tell you about some important changes to your American Express Serve® Account. These changes will allow us to provide you with even more value and convenience when you use your Account.

Our fees are changing:
  • New Monthly & Foreign Transaction Fees: In order for us to improve existing features and continue to introduce new ones, beginning on December 3, 2013, we will charge a monthly fee of $1 and a foreign transaction fee of 2.7% on purchases made outside of the U.S. Please note, as a loyal Direct Deposit customer, your monthly fee will be waived each statement period that you use Direct Deposit.
  • Free MoneyPass® ATM Transactions: We wanted to remind you that we recently announced a $0 ATM withdrawal fee at over 22,000 MoneyPass ATMs. Visit www.moneypass.com to find an ATM near you.
  • Coming Soon - Free Ways to Add Cash at Retail Locations: American Express Serve customers will soon be able to add money to their Account for free at CVS/pharmacy stores nationwide and participating 7-Eleven locations. Stay tuned for more information.
See the [attached] chart for a complete list of all fees for your Serve Account.

Thank you for being a member of American Express Serve. Please review the fee changes along with the updated Consumer User Agreement by December 3rd. You don't need to take any further action to accept the updated Consumer User Agreement. If you choose not to accept it and want to close your Account, you may call Customer Service at 1‑800‑954‑0559 — we are available 24/7. You may also close your Account online at www.serve.com. Please note, we are no longer able to accept Customer Service inquiries or requests via email.

We are dedicated to delivering you exceptional customer service, and we will continue to add new Account features and benefits to better serve you.

Thanks,

The American Express Serve® Team
"
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Last Edited by 1dash1 October 24, 2013 at 08:19 PM
No Fee for Residents of NY, TX, and VT

link to change in terms - https://www.serve.com/help/#/fees-and-limits-0


How will the fees be charged and how might I avoid the fees?

Monthly Fees: A $1 Monthly Fee will be charged to your Account at the end of every monthly statement period. Starting one calendar month after you successfully sign-up for an American Express Serve Account, you will see the Monthly Fee listed on your monthly statement and your Transaction History. The Monthly Fee will be withdrawn from your Available Funds and will be charged as long as there is a remaining balance on your Account. If you have no Available Funds in your Account, we will look to your Reserve or Subaccounts to charge the Monthly Fee.

Your Monthly Fee will be waived if you do the following:
Receive a Direct Deposit, in any amount, during your monthly statement period or
Add $500 or more to your Account during your monthly statement period.



Will American Express charge a Monthly Fee when my Account balance is below $1?

If your Available Funds is less than $1, a partial fee will be charged and the balance of your Available Funds will be applied to the fee amount. We will not take your Account balance into negative as a result of this fee. If your Available Funds is $0, American Express will not assess a Monthly Fee. However, if you have no Available Funds in your Account, we will look to your Reserve or Subaccounts to charge the Monthly Fee.

1 Receiving money from another American Express Serve Account holder (a P2P transaction) does not count toward the $500 load amount.

To close your Serve account online:
1- go to My account- select settings
2- scroll down to the bottom of the page
3- select a reason and cancel account.

www.serve.com

==============================================================

The following limits apply to transactions conducted through your American Express Serve Account as well as any Reserve or Subaccounts. We may set additional limits on your use of your American Express Serve Account, Reserve and any Subaccounts, including in circumstances in which we have not verified all of the identity and other personal information you have provided. All limits remain subject to change at our discretion at any time for legal, risk management, security, or other purposes, subject to Applicable Law.

(Limits applied to American Express Serve Account, Reserve and linked Subaccounts, in aggregate)

Transaction..................................Limits
Total Account Balance..................$100,000

Add money
Total Add money Transactions....$100,000 per year*
Direct Deposit............................$100,000 per year
Checking or Savings Account......Up to $2,000 per month
*Debit Card(s) (in aggregate).......$200 per day; and $1,000 per month
Credit Card (in aggregate)..........$200 per day; and $1,000 per month

Spend Money
Total Spend Money Transactions..$100,000 per year*
Merchant Transactions................$10,000 per month
Pay Bills ...................................$10,000 per month, ($5,000 per month in the case of unregistered payees)
Send Money Transactions...........$2,500 per transaction, $2,500 per month
ATM Withdrawals.......................3 ATM Withdrawals per day, $500 per day, $2,000 per month

Reference URL: https://www.serve.com/help/#/fees-and-limits-1

323 Comments

1 2 3 4 5

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#3
I received a couple of Serve cards when they were paying people $25 each to open one up.

I haven't used it since. Who would need a card like Serve? What is the point of it?
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#4
Quote from mitchflorida View Post :
I received a couple of Serve cards when they were paying people $25 each to open one up.

I haven't used it since. Who would need a card like Serve? What is the point of it?
On top of the $25, I also got $50 for 2 direct deposits.

In any case, Serve is handy for travel/online shopping purposes. It's arguably safer than using a credit card during travel or for shopping online.
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#5
I received the same email. I was using this to rent 5 redbox movies. I will be closing soon. Adios.
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#6
Quote from mitchflorida View Post :
I received a couple of Serve cards when they were paying people $25 each to open one up.

I haven't used it since. Who would need a card like Serve? What is the point of it?
Purchase protection, and Free Roadside assistance Wink
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Last edited by VreebieZ October 8, 2013 at 04:02 PM
#7
Thanks OP.....money saved is money earned. Will close 2 accounts I have today.
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#8
Still no fee in NY, Texas, and Vermont.
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#9
Might just DD 1 dollar a month, maybe they'll have an awesome deal come around again.
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#10
Thanks OP..don't think my account is linked to other accounts (not sure how they would be able to collect the $1 fee..I have no balance either), but I guess I'll be closing it anyway. Only opened it for the bonuses.
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#11
Quote from VreebieZ View Post :
Purchase protection, and Free Roadside assistance Wink

I have that for free with Amex Blue plus 3 percent back on groceries.
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#12
Ok, nvm.
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Last edited by madshakes October 8, 2013 at 04:30 PM
#13
This card is aimed at people who have zero credit or who have no checking account. They can direct deposit their paycheck and use the card for cash and for AMEX purchases.

GET $50 WITH DIRECT DEPOSITSign up for Direct Deposit and get a $50 credit to your American Express Serve® Account when you receive two deposits of $250 or more.1 How to Enroll
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#14
Is it just me or does Amex seem dead set on neutering the Serve program? You would think with all the shenanigans they are throwing our way with this product they would at LEAST make it easier to jump ship and sign up with Blue Bird.

Amex whatre you doing?
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#15
got the email and closed my account online immediately
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