It remains a great way to meet bonus spend thresholds as you can send and receive $1,000 per month from your credit card with no fees. Of late they have been cracking down on people with several accounts which pass money back and forth so it’s a better idea to have a circle of friends do this from different IP addresses to be safe. And of course you have to select “Goods/Services” and not “Cash Advance” or else you’ll be charged a cash advance fee on your card.
At any rate I’ve read on several blogs and forums that Amazon Payments will start charging fees “effective December 4th.” This rumor was based on the annual privacy notice that was recently emailed out. The privacy notice said nothing about new fees, but there were links in the email to pages that mention fees. In fact those fees have always been there. They apply to business accounts that sell products with checkout by Amazon and Amazon Payments. I was highly skeptical of their interpretation of the privacy notice and expressed that in response to rumors on DDF. Not that Amazon can’t decide at any time to start charging, but there was nothing in the email that indicated a change in fees for personal accounts.
Just to be sure I emailed Amazon for an explanation and to see if there would be new fees coming on 12/04/13 for personal accounts and here is what they said,
I apologize for any concerns our annual privacy notice has caused you. The limits of sending and receiving funds via credit card will be staying at $1000.
I can confirm that no service fees are applied from Amazon Payments for sending and receiving the limit of $1,000 per month. Please keep in mind that your credit card issuer can charge you a fee if “cash advance” is selected as a form of payment processing. This would be completely on the side of the credit card, and they would know more about any service fees they apply.
From Amazon Payments no fees will be applied for sending your monthly limit for the foreseeable future.
The e-mail you received is a simple notice informing you about our privacy practices, as well as how you can report errors or unauthorized transactions related to your Amazon Payments account – we’re required by law to send this annual notice to all of our account holders.
So there you have it, no news is good news in this case.