topic Re: Opened American Express Kabbage Checking Account in Business Credit

Opened American Express Kabbage Checking Account

Red1Blue — Wed, 16 Jun 2021 14:07:10 GMT

Just now, I have opened American Express Kabbage Checking Account. It is free to open and now monthly fee. I am going to give it a try and see how it is going to work out.

Re: Opened American Express Kabbage Checking Account

pizzadude — Wed, 16 Jun 2021 14:22:03 GMT

@Red1Blue wrote:
Just now, I have opened American Express Kabbage Checking Account. It is free to open and now monthly fee. I am going to give it a try and see how it is going to work out.

Cool - what interest rate(s) do they offer? Also your account was opened through Green Dot ?

Re: Opened American Express Kabbage Checking Account

Red1Blue — Wed, 16 Jun 2021 14:36:42 GMT

@pizzadude wrote:
@Red1Blue wrote:
Just now, I have opened American Express Kabbage Checking Account. It is free to open and now monthly fee. I am going to give it a try and see how it is going to work out.
Cool - what interest rate(s) do they offer? Also your account was opened through Green Dot ?

I have opened on the Kabbage Website. I did not have any thing to deal with Green Dot. What ever the relationship they have with Green Dot is behind the secenes which I do not know. I think interest rate on checking account is 1% upto $100,000

Re: Opened American Express Kabbage Checking Account

pizzadude — Wed, 16 Jun 2021 16:29:58 GMT

@Red1Blue wrote:
@pizzadude wrote:
@Red1Blue wrote:
Just now, I have opened American Express Kabbage Checking Account. It is free to open and now monthly fee. I am going to give it a try and see how it is going to work out.
Cool - what interest rate(s) do they offer? Also your account was opened through Green Dot ?
I have opened on the Kabbage Website. I did not have any thing to deal with Green Dot. What ever the relationship they have with Green Dot is behind the secenes which I do not know. I think interest rate on checking account is 1% upto $100,000

Ok got it. There was some discussion on another thread about Kabbage, someone was inquiring as to whether their checking / savings accounts were managed by another entity.

Re: Opened American Express Kabbage Checking Account

Anonymous — Wed, 16 Jun 2021 18:58:54 GMT

huh, kind of similar to BlueVine then? I've heard of kabbage before but have never come across any mention of it on Amex's site. Never really been a fan of Green Dot Bank though and I wonder why it's used if Kabbage is TM by Amex?, just as an issuer of the cards parhaps?

Seems like a lot of entities involved in this one, between Amex, Green Dot, and Fifth Third bank.

Will keep it in the back of my mind if I ever need another account though.

Re: Opened American Express Kabbage Checking Account

pizzadude — Wed, 16 Jun 2021 19:33:44 GMT

Here's the link to the other discussion, I was a bit confused also about who Kabbage was affiliated with:

https://ficoforums.myfico.com/t5/Business-Credit/American-Express-Kabbage-Business-Checking/td-p/6347557

Re: Opened American Express Kabbage Checking Account

Red1Blue — Wed, 16 Jun 2021 23:21:00 GMT

To be honest I just looked at the Amex name and Kabbage is part of Amex and signed up for it. I wondered the same if it is debit card why not issued by Amex. Then I realized Kabbage was an independent company before Amex bought and they might have agreement or arrangment with Green Dot to issue the Debit Card and some other Banking products. May be they could not cancel the previous agreements with other companies. Now that Amex owns they might slowly phase out some of these agreements. Also there is a possiblity that MC is more widely accepted than and Amex and they might have wanted to leave that alone. What ever the reason is the Debit card management is controlled from Kabbage website and I did not have to goto Green Dot website. I feel it is about time Amex started serving small business more effectively and start offering more products for small business. Opening and managing the checking account on Kabbage website seems to be very easy. No AF and no Transaction fees and Amex brand name to stand behind it. I had no hesitation to move forward with opening the account. i am sure Amex and Kabbage will work out all the details soon. For now I am putting my Trust in American Express and hoping they will stand by their products.

Re: Opened American Express Kabbage Checking Account

gingerflower — Thu, 17 Jun 2021 06:39:31 GMT

@Red1Blue

Congratulations on opening your Anerican Kabbage Checking account. I had the offer couple weeks ago and posted here on the business forum I might just check it out too...

Re: Opened American Express Kabbage Checking Account

Anonymous — Sun, 18 Jul 2021 23:32:47 GMT

I just got an offer for $300 bonus ( 5 debit card purchases in 60 days) -- anyone else?

Re: Opened American Express Kabbage Checking Account

Anonymous — Sun, 18 Jul 2021 23:36:30 GMT

From the offer: Kabbage Checking account opening is subject to identity verification and approval by Green Dot Bank. This promotion is being offered by Kabbage, an American Express company, (“we”, “us” or “our”). The Kabbage Checking account is provided by Green Dot Bank, and as such, Green Dot Bank will deposit the $300 cash deposit into your account.

Re: Opened American Express Kabbage Checking Account

ScorpioRising — Wed, 21 Jul 2021 23:01:28 GMT

@Anonymous wrote:
I just got an offer for $300 bonus ( 5 debit card purchases in 60 days) -- anyone else?

I got the same offer through one of my Amex Biz cards. I read up on it because I didn't know what Kabbage was and then I opened an account mainly because of the $300 bonus. I'm waiting for the debit card to arrive in about 7 days.

I may need some heavy funding down the road, so Kabbage seems like a viable option to keep open. Have you opened your account with them yet?

Re: Opened American Express Kabbage Checking Account

sugarcreek67 — Thu, 22 Jul 2021 01:08:34 GMT

The business account pays 1.1% up to 100k I opened one about 2 weeks ago. was a pretty painless application process. I set up an external account to draw from to add money into the account. took a week for Kabbage to pull from fifth third business account. I have not tried using the mobile banking option yet but may test a mobile check deposit to see if it goes a bit faster. just what i have learned so far. I did not get that 300 sub offer :-(

Re: Opened American Express Kabbage Checking Account

ScorpioRising — Thu, 22 Jul 2021 01:29:56 GMT

@sugarcreek67 wrote:
The business account pays 1.1% up to 100k I opened one about 2 weeks ago. was a pretty painless application process. I set up an external account to draw from to add money into the account. took a week for Kabbage to pull from fifth third business account. I have not tried using the mobile banking option yet but may test a mobile check deposit to see if it goes a bit faster. just what i have learned so far. I did not get that 300 sub offer :-(

Sorry about the SUB. The sub offer I received was from an email from Amex, sent specifically to my Platinum Biz Card account. It showed the card itself on the email and didn't show anywhere else on my other cards.

Like you said, the app was relatively fast. It took about 10-15 minutes with identity check etc. I was able to link an external account and make a deposit right away but that hasn't shown up yet.

Re: Opened American Express Kabbage Checking Account

sugarcreek67 — Thu, 22 Jul 2021 01:34:24 GMT

I never saw anything come across any of my AMEX cards either I just happened to see ad on amex site for the account but no sub

Re: Opened American Express Kabbage Checking Account

ScorpioRising — Thu, 22 Jul 2021 01:50:32 GMT

@sugarcreek67 wrote:
I never saw anything come across any of my AMEX cards either I just happened to see ad on amex site for the account but no sub

Every now and then, as you are well aware by now, Amex seems arbitrarily to send out targeted email offers. I also have a HYSA with Amex, perhaps that factored into their marketing profile. Who knows?

A good example is the email offer for 5% cash back in EVERY category on the Amazon Prime Biz card through 12/31/21. I would have set my other cards aside and used that card for every single bill and purchase up to the max amount 😂. But I didn't receive that offer even though I have that card. See what I mean?

Re: Opened American Express Kabbage Checking Account

Anonymous — Fri, 23 Jul 2021 02:40:13 GMT

@ScorpioRising wrote:
@Anonymous wrote:
I just got an offer for $300 bonus ( 5 debit card purchases in 60 days) -- anyone else?

I got the same offer through one of my Amex Biz cards. I read up on it because I didn't know what Kabbage was and then I opened an account mainly because of the $300 bonus. I'm waiting for the debit card to arrive in about 7 days.

I may need some heavy funding down the road, so Kabbage seems like a viable option to keep open. Have you opened your account with them yet?

I did. Easy application but funded it 3 days ago and funds not yet available. Card in the mail.

Re: Opened American Express Kabbage Checking Account

ScorpioRising — Fri, 23 Jul 2021 03:32:51 GMT

@Anonymous wrote:
@ScorpioRising wrote:
@Anonymous wrote:
I just got an offer for $300 bonus ( 5 debit card purchases in 60 days) -- anyone else?

I got the same offer through one of my Amex Biz cards. I read up on it because I didn't know what Kabbage was and then I opened an account mainly because of the $300 bonus. I'm waiting for the debit card to arrive in about 7 days.

I may need some heavy funding down the road, so Kabbage seems like a viable option to keep open. Have you opened your account with them yet?
I did. Easy application but funded it 3 days ago and funds not yet available. Card in the mail.

Excellent! I just love a sign-up bonus. I don't go looking for it but when it knocks on my door, depending on the terms, I say YES! 👍 😂

Re: Opened American Express Kabbage Checking Account

BronzeTrader — Wed, 28 Jul 2021 13:15:33 GMT

The Kabbage is a rather strange offering. AmEx already has its own saving account offering, also the BlueBird prepaid account via Incomm. I believe AmEx sold Bluebird and Serve prepaid business to Incomm, but still retain the marketing agreement with Incomm.

I've had business cards with AmEx for many years. So I gave Kabbage a try. But was declined. It is a stranger feeling. I do not need Kabbage. No idea just why....

Re: Opened American Express Kabbage Checking Account

Red1Blue — Wed, 28 Jul 2021 16:14:43 GMT

@BronzeTrader wrote:
I've had business cards with AmEx for many years. So I gave Kabbage a try. But was declined. It is a stranger feeling. I do not need Kabbage. No idea just why....

I did not understand. What is declined with Kabbage. Did you try to setup a business loan or Business checking account. What did they decline.

Re: Opened American Express Kabbage Checking Account

sugarcreek67 — Fri, 30 Jul 2021 02:53:53 GMT

Thought I would add a couple of DP's I made an external transfer from fifth third to kabbage. (pulling from 53 cannot push a transfer from 53 to anywhere except another 53 account) took 7 days to clear. So today I gave the mobile deposit a go,after I followed the steps got a message saying *should* be available in 5 business days.