Do you run a company that accepts American Express (AXP)? American Express’s fee policies may have cost you money.
American Express’s merchant terms make it difficult, if not impossible, for businesses to pass along the costs of credit card processing to customers in the form of surcharges or other methods. Your company could have lost tens of thousands of dollars due to these policies.
Legal action against American Express may be pursued by businesses of any size through arbitration, a kind of out-of-court dispute resolution. Thousands of business owners have the potential to win between $10,000 and $70,000 by going through arbitration.
This free examination into potential fraud by American Express merchant surcharges is open to business owners who accept the card.
The procedures for accepting payments vary depending on the credit card company. Merchant processing fees can add up rapidly when dealing with credit card transactions totaling several thousand dollars. However, American Express makes it cumbersome or impossible for merchants to pass these expenses on to customers through surcharges.
American Express has rigorous surcharge guidelines that limit the methods in which businesses can use surcharges, in addition to having higher processing fees compared to other card issuers.
A company that accepts American Express cannot:
Insinuate that they would rather not use American Express cards to make purchases
Avoid having cardholders use American Express by any means necessary
discriminate against American Express transactions by using terms such as “restrictions, conditions, disadvantages, or fees” that aren’t applied to other payment methods
Businesses lose thousands of dollars every year due to this restriction on their ability to impose surcharges on consumer purchases to cover transaction fees.
Participate in a lawsuit against American Express’s surcharges
Lawyers contend that American Express’s unreasonable requirements may be against the law. Business owners who pursue legal action may be able to recoup anything from $10,000 to $70,000, depending on the nature of their operations.
The legal community is actively seeking business owners like you, in the hopes of filing a class action lawsuit against American Express. Arbitration, as contrast to a lawsuit, is confidential and is held outside of a public courtroom.
Counsel that can provide you with legal advice is listed below:
Milberg Coleman Bryson Phillips Grossman, PLLC (212) 594-5300
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