BMW Introduces Credit Cards & Banking Services
10 July 2000
Personal Banking Products Expand BMW's Scope of Services WOODCLIFF LAKE, NEW JERSEY - BMW Financial Services NA, in another industry leading roll out, is launching BMW PersonalBanking with the introduction of two BMW credit cards and a line of personal banking products, including checking, savings, CDs and money market accounts. Overdraft protection, free bill payment and bank debit cards also are available. "We have developed these services for our customers in the U.S. Many people donÕt realize it, but BMW began providing consumer banking products and services in Europe nearly 20 years ago and this aspect of our business has evolved as demand has grown,Ó said Stefan Krause, President of BMW Financial Services. ÒWeÕre confident that BMW drivers will find the same attributes in our personal finance products as the ones they value most in their vehicles Ð responsiveness and outstanding performance.Ó Most exciting is the introduction of two VISA credit cards Ð the BMW Ultimate Card and the BMW Card, both of which offer numerous benefits and rewards. The BMW Ultimate Card awards points with every purchase that can be redeemed for rewards designed specifically for BMW drivers. Cardholders can choose from rewards like free travel virtually anywhere in the world on any major airline with no blackout dates, rebates on future vehicle loans or leases, additional miles on a vehicle lease, valuable gift certificates to top retailers, or a variety of BMW merchandise. Plus, the BMW Ultimate Card comes with the unsurpassed global travel benefits of a Visa Signature card, including airport valet service, unlimited access to a 24-hour concierge, $1 million in travel accident insurance, lost luggage reimbursement, roadside assistance and more. The BMW Card is a VISA Platinum card that has no annual fee and provides cardholders with superior protection, value and convenience. Cardholders earn points with every purchase redeemable for free BMW merchandise. BMW PersonalBanking customers can manage their accounts 24 hours a day, seven days a week with on-line banking through BMWÕs Web site or at over 365,000 ATMs worldwide. Accounts are also accessible by mail and by phone using the toll-free BMW PersonalBanking Access Line. In addition to these banking products, BMW FS has built strong relationships with its customers through other services, including an on-line credit application, the Performance Loan and the BMW Personal Insurance Program, offered through the Chubb Insurance Solutions Agency, Inc., an affiliate of Chubb Group of Insurance Companies. In the future, BMW FS will extend its banking services with home equity and personal finance loans. The PersonalBanking products and credit card services are available now to the 1.5 million BMW drivers in the United States through BMWÕs Web site and will be rolled out shortly through BMW dealers across the United States.