Sovereign gives Membership Rewards(R) points from American Express to
customers with qualifying business checking products and an American
Express Business Card from Sovereign
BOSTON, June 15 /PRNewswire/ -- Sovereign Bank and OPEN from American
Express(SM) announced today that Sovereign will offer Membership Rewards(R)
points from American Express to small business customers with qualifying
business checking products and an American Express Business Card from
Sovereign. Cardmembers will earn Membership Rewards points when they
receive their American Express Business Gold Rewards Charge Card or a
Business Platinum Charge Card(R), and at each annual card anniversary
thereafter.
The Membership Rewards program from American Express is the largest
card- based rewards program in the world, with more than 140 redemption
partners. Sovereign customers will earn one Membership Rewards point for
every dollar spent on their American Express Business Cards from Sovereign.
Customers with Business Checking Plus or Business Cash Management Checking
will earn 10,000 points when they open an American Express Business Card
from Sovereign, and 5,000 points at their card renewal every year.
Customers using Sovereign's Free Business Checking or Business Interest
Checking products can earn 5,000 points at the time they open an American
Express Business Card from Sovereign, and 5,000 points at their card
renewal every year.
"We are delighted to be the first bank in the Northeast to partner with
OPEN from American Express to offer small business customers Membership
Rewards points," said Cynthia Gadberry, Director of Commercial Marketing at
Sovereign Bank. "We never stop looking for ways to reward our customers for
bringing their banking to us. Now, when small business customers open an
American Express Business Card from Sovereign, we have yet another way for
them to benefit."
Separately, Sovereign will offer cardmembers a $100 statement credit on
their Business Gold Rewards Charge Card and Platinum Business Cash Rebate
Credit Card after their first purchase. All three American Express Business
Cards from Sovereign include OPEN Savings(SM), which gives Cardmembers
automatic savings when using their Card for purchases with partners such as
FedEx(R), Hertz(R), Hyatt Hotels & Resorts(R) and more. For a complete list
of OPEN Savings participants, visit opensavings.com.
OPEN from American Express(SM) and Sovereign Bank are jointly marketing
small business charge and credit cards that carry the Sovereign and
American Express brands to Sovereign's small business customers. American
Express is issuing the new Cards and servicing the accounts. Sovereign Bank
and OPEN from American Express are marketing the Cards through Sovereign's
in-branch, direct mail and online channels as well as Sovereign's small
business relationship managers. The agreement marked OPEN's first strategic
partnership in the Northeast region.
Small business customers who are interested in applying for one of the
American Express(R) Business Cards from Sovereign can call 1-800-530-6120
or visit americanexpress.com\sovereigngold.
About Sovereign Bank
Sovereign Bancorp, Inc. ("Sovereign") (NYSE: SOV) is the parent company
of Sovereign Bank, an $83 billion financial institution with nearly 800
community banking offices, over 2,000 ATMs after giving effect to the
recently announced branding agreement in which Sovereign ATMs will be
placed in CVS/pharmacy locations and approximately 12,000 team members with
principal markets in the Northeast United States. Sovereign offers a broad
array of financial services and products including retail banking, business
and corporate banking, cash management, capital markets, wealth management
and insurance. Sovereign is the 18th largest banking institution in the
United States. For more information on Sovereign Bank, visit
http://www.sovereignbank.com or call 1-877-SOV-BANK.
Sovereign Bank, its logo and lantern are service marks of Sovereign
Bank or its affiliates or subsidiaries in the United States and other
countries.
About OPEN from American Express(SM)
OPEN(SM) is the American Express team dedicated exclusively to the
success of small business owners and their companies. The OPEN Team
supports business owners with unparalleled service. With tailored products
and services, the team delivers purchasing power, flexibility, control and
rewards to help customers run their business. Specifically, business owner
customers can leverage an enhanced set of products, tools, services and
savings, including charge and credit cards, convenient access to working
capital, robust online account management capabilities and savings on
business services from an expanded lineup of partners. To obtain more
information about OPEN, visit OPEN.com, or call 1-800-NOW-OPEN to apply for
a card or loan. Terms and conditions apply.
American Express Company (http://www.americanexpress.com) is a leading
global payments, network and travel company founded in 1850.
SOURCE Sovereign Bank
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Related links:
http://americanexpress.com\sovereigngold
http://OPEN.com http://www.americanexpress.com
http://www.sovereignbank.com/
CONTACT:
Ellen Molle, Sovereign Bank, +1-617-757-5573,
emolle@sovereignbank.com
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