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Goodbye American Express Centurion Bank

RicHowe
Valued Contributor

Goodbye American Express Centurion Bank

American Express Centurion Bank ("AECB") will  undergo a legal entity change and be known as American Express National Bank ("AENB") as of April 1, 2018.

 

I wonder if AMEX is thinking of offering new traditional banking products and services? They've been down that road before and it wasn't good.

Message 1 of 10
9 REPLIES 9
Scuderia
Frequent Contributor

Re: Goodbye American Express Centurion Bank

I always liked “centurion”. Now they’ll just be a run if the mill National Bank?? So pedestrian.. :-)

Message 2 of 10
West501
Frequent Contributor

Re: Goodbye American Express Centurion Bank

Would be interesting to see them directly compete against the other big banks







Message 3 of 10
TwilightSymphonie
Frequent Contributor

Re: Goodbye American Express Centurion Bank

Ugh now they are just going to be like all the others out there. Amex used to set itself apart but I guess that is out now.

















Message 4 of 10
Dinosaur
Moderator Emeritus

Re: Goodbye American Express Centurion Bank

RicHowe now American Express can truly appeal to the masses! In my mind the "don't leave home without it" exclusiveness will have gone the way of the "Dinosaur" Smiley Happy

Message 5 of 10
Jetboy
Regular Contributor

Re: Goodbye American Express Centurion Bank

Interesting post. American Express does have a new CEO. Bring the changes on I say. Now if they could make their BCE/BCP cards offer cash back redemptions via ACH to bank account I might keep my card.  Below link is to the OCC Conditional Approval that American Express received.

 

The Office of the Comptroller of the Currency (“OCC”) hereby conditionally approves the application by American Express Centurion Bank, Salt Lake City, Utah (AECB or Applicant) to convert from a Utah-chartered industrial bank to a national bank with the title “American Express National Bank” (AENB) (Conversion).
 

Office of the Comptroller of the Currency


Message 6 of 10
simplynoir
Community Leader
Super Contributor

Re: Goodbye American Express Centurion Bank


wrote:

Ugh now they are just going to be like all the others out there. Amex used to set itself apart but I guess that is out now.


To be fair AMEX hasn't been that for awhile now.

Message 7 of 10
RicHowe
Valued Contributor

Re: Goodbye American Express Centurion Bank

Thanks for the link to the OCC Conditional Approval. Turns out American Express Bank, FSB will also be merged with the new national bank subsequent to the conversion. AENB will offer both co-branded and bank-issued credit and charge cards.
Message 8 of 10
AverageJoesCredit
Mega Contributor

Re: Goodbye American Express Centurion Bank

Got an offer for a savings account from Amex yesterday. Didnt know they did that. I assume this is on their banking side?
Message 9 of 10
MikeyO98
Regular Contributor

Re: Goodbye American Express Centurion Bank

owie me no likey this change. :-(

Message 10 of 10
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