Amicus Bank

Amicus Bank was a wholly owned subsidiary of CIBC which provided non-traditional banking to customers.

Within Canada, Amicus Bank was primarily responsible for operating President's Choice Financial. Amicus Bank briefly provided services under its own name through Bell Sympatico's portal. It also took on the operation of non-branch automated banking machines (primarily stand-alone's at services stations, convenience stores) which were co-branded for Amicus Bank and CIBC.

The bank asked for and received approval from the Minister of Finance for voluntary dissolution. Services operated by Amicus Bank are now provided by the direct banking division of CIBC.

Amicus had an American unit, Amicus FSB, which it has since ceased operations due to cancellation of joint ventures south of the border. Amicus FSB partnered with Safeway grocery stores in western US states and Florida, doing business as Safeway SELECT Bank, and partnered with Winn-Dixie in Florida, doing business as Marketplace Bank. Amicus set up banking kiosks where customers could make deposits, apply for loans, and withdraw money. The banking venture offered outstanding interests rates on both checking and savings accounts and paid generous salaries to salespersons assigned to approach grocery shoppers and persuade them to open accounts and/or apply for loans.

External links

* [http://www.cibc.com CIBC Official Website] - English
* [http://www.amicusbank.ca/ Amicus Bank]
* [http://www.presidentschoicefinancial.ca/ Amicus Bank]
* [http://www.safewayselectbank.com/ Safeway SELECT bank]
* [http://www.marketplacebank.com/ Marketplace bank]