VUB will be responsible for issuing the cards, managing the customer relationships, providing customer service, billing and credit management. American Express will be responsible for signing new merchants in Slovakia to accept the American Express Card at their establishments.

“The partnership with American Express enables VUB to deliver modern, unique and globally successful card products to the Slovak market and further strengthens our position as the leading issuer and innovator,” said Tomas Spurny, VUB's CEO.

“VUB Bank is an outstanding partner to represent the American Express brand in Slovakia, which is one of the most dynamic markets in Central and Eastern Europe,” said William Stredwick, Vice President and General Manager, American Express. “These credit cards will open a door of opportunity for Slovak consumers by meeting their individual financial, lifestyle and travel needs, providing access to unique benefits and services that only the VUB Bank American Express Credit Cards can offer.”

Unique Benefits and Services for Slovak Consumers

VUB will issue Blue from American Express to its customers, but also non-customers, in particular younger and aspirational ones. In addition to its unique design that includes a smart chip, the product offers Cardmembers 0.5% cashback on all purchases made by Blue Card, which is accounted for as a credit on a Cardmember's statement at year-end. It means, for example, that a Cardmember who makes monthly purchases totalling SKK 15,000 would receive SKK 900 as a statement credit at the end of the year.

The card also offers payoff flexibility as it allows Cardmembers to pay off everything at once or spread out the payments over a longer period of time. The new Blue from American Express is a Smart Credit Card with an embedded Chip featuring 'ID Keeper'. ID Keeper is an innovative application on the Card's Chip which allows Cardmembers to securely store their favourite website addresses, personal details, passwords, user names and auto-fill online shopping order forms. This enables Cardmembers to shop online more securely, swiftly and conveniently.

The VUB Bank American Express Gold Card is designed to meet the financial and travel needs of VUB's private banking and premium customers. Within the Gold Card travel insurance, for example, a Cardmember could receive up to USD 750 for food, refreshment and accommodation if traveller's plane is delayed. In case of luggage delay, the Cardmember could receive up to USD 750 for purchase of clothes and if the luggage is lost traveller could receive up to an additional USD 1,250. In medical emergency American Express will arrange medical assistance and pay for the expenses. When during travelling the Cardmember needs to suddenly return home, American Express will arrange the transportation and cover all costs related to the early return. In addition, the Gold Card exclusively offers Cardmembers Purchase Protection insurance, which is a unique benefit that protects Cardmembers in the event an item they purchase is lost or stolen.

Both products will offer VUB Bank-American Express Cardmembers up to 50 days interest free period and a robust package of benefits and services including 24x7 customer service both in Slovakia and around the world; access to the worldwide network of more than 2,000 American Express Travel Service Offices where Cardmembers can seek assistance and receive 48-hour emergency card replacement.

The VUB Bank-American Express Cards also provide exclusive Cardmember offers at many hotels, restaurants and retailers in Slovkia in dozens of countries around the world through the special programme called American Express Selects.

In addition, the Card products will provide access to Travel Accident Insurance, which provides coverage for death or injury resulting from accident while traveling; and also Fraud Protection, which limits a Cardmember's liability if their Card is used for fraudulent purposes.

Both the American Express Gold Card and Blue from American Express issued by VUB can be used to make purchases at the majority of Slovak merchants that accept the card, including large retailers, gas and petrol stations, hotels and restaurants, and the millions of establishments that accept the American Express Card for payment globally.

About American Express
American Express Company is a diversified worldwide travel, financial and network services company, founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking.

American Express has been aggressively pursuing a strategy of opening its merchant network to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the American Express brand, American Express aims to gain even broader reach for its network worldwide. American Express has now established nearly 100 card-issuing partnership arrangements in 109 countries.

Contacts:
Tom Sclafani
+44 207 976 4513
Thomas.M.Sclafani@aexp.com