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Amazon Payments Shutdown October 12, 2014
Amazon Payments is one of the oldest and most beloved friends of those in the miles/points space. It has been around for about four years and during that time has become the easiest way to
manufacture spend spend money. The lowest hanging fruit if you will.
Quite generously Amazon has let people send up to $1,000 per month to each other without a fee. What this essentially means is that Amazon has been eating the credit card processing fees in the name of growing their payments business. Unfortunately, someone finally figured out that this strategy wasn’t paying off since the service is now being discontinued as of October 13. (Last day to make payments is October 12.)
Disposing Of Non-Debit Gift Cards
Most people in this game use Amazon Payments to simply send $1,000 per month to their spouse or relative (or extended family of 30), however it has also been useful to liquidate non-debit gift in a pinch. That free option will now no longer be available, meaning the best way to cash out may be Paypal or Google Wallet with their ~3% fees.
A Moment Of Silence
Today is October 1, meaning that your monthly limit has been reset and you are free to send those Amazon Payments one last time. Remember that October 12, 2014 is the last day to do this before the service is shut down. When you click that send button please take a moment of silence to remember all of the good times that you and Amazon Payments have had. I know that I certainly will.
Do you have a post Amazon Payments strategy? Were you someone who only had one account or did your entire family get in on the game? Share you favorite Amazon Payments stories here!
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.