Molly White
did you know if you open a HYSA at american express, you cannot transfer funds from a business checking account linked to that HYSA?
the only way to do it would be AMEX checking -> some other account -> AMEX HYSA
and this has apparently been an issue for YEARS
Molly White
AMEX also cannot conceive of a person having a different residential address from their mailing address
in twenty twenty four
Molly White
@MagentaRocks they are and aren't linked. they're linked in the sense that i access them all through the same log-in, but they're not linked in the sense that i can't transfer funds between them
Magenta Rocks🇺🇦🇨🇦🇬🇱🇲🇽
not that it makes any sense, but the back-end systems between personal and business accounts are probably different. I'm surprised you could even link a business checking to the HYSA in the first place. What is the point of linking then? /rhetorical
Apicultor 🐝
@molly0xfff Why do they even need more than one address? Ridiculous.
maya_b
not at all a surprise.
old school financial institutions can't conceive of people doing anything differently from 50 years ago, and have no idea why upstart online only banks are taking more and more of their business.
my former business bank would lock me out of my account for "suspicious logins" because it couldn't deal with my accounting software using the bank's own mechanisms to reconcile my books daily. 🙄
Molly White
@Phosphenes retailers often refuse them because they apparently charge pretty high fees compared to other CC companies
Phosphenes
Why does anyone use Amex? I constantly see 'all cards accepted except Amex'.
Why is Amex so especially limited, and who still needs that?
Molly White
@newstik you can do that with their standard savings, why not the HYSA?
Daniel AJ Sokolov
@molly0xfff If they offered direct transfer, you could keep your money in the HYSA until the due date of your Amex balance, then pay the balance. Where's the profit in that for Amex? They make money when you pay late.
John Pell
@molly0xfff at the risk of sharing something you already know: the patriot act (remember that shit?) requires banks have your physical address, which I’ve found universally interpreted as your physical address must be your primary address. Some banks allow a secondary address which they will sometimes use depending on the phase of the moon.
Molly White
@gaelicWizard I'm not mad about having to provide both, but if they ask for my physical address and also expect to send mail to it we're going to have a bad time
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