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American Express Kabbage Business Checking

gingerflower
Valued Contributor

American Express Kabbage Business Checking

Has anyone received a American Express Kabbage Business Checking? Got an email today from American Express offering Kabbage business checking. Odd because it says you have to open account with Green Dot Bank...Just curious! 

 

Message 1 of 8
7 REPLIES 7
pizzadude
Super Contributor

Re: American Express Kabbage Business Checking

 

Never heard of kabbage until today, looks like they were acquired by AMEX last year ( AMEX national bank funds their loans ), are a payment facilitator sponsored by fifth third bank, and their banking services are provided through Green Dot, so I'm super confused Smiley Very Happy

 

Did they offer any bonus, like a rebate, or better interest rates..?

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 8
gingerflower
Valued Contributor

Re: American Express Kabbage Business Checking

@pizzadude The only thing it offers is free setup and no monthly  fees. Plus free Atm nationwide banks. I was confused bcuz it says you have to apply for a Green Dot account.  Ty for your feedback!

Message 3 of 8
GatorGuy
Regular Contributor

Re: American Express Kabbage Business Checking


@pizzadude wrote:

 

Never heard of kabbage until today, looks like they were acquired by AMEX last year ( AMEX national bank funds their loans ), are a payment facilitator sponsored by fifth third bank, and their banking services are provided through Green Dot, so I'm super confused Smiley Very Happy

 

Did they offer any bonus, like a rebate, or better interest rates..?


Their interest rate is 1.1% capped at balances of $100,000. 

 

I used Kabbage last year for a PPP loan and they were super easy to work with. 

Message 4 of 8
gingerflower
Valued Contributor

Re: American Express Kabbage Business Checking

@GatorGuy So my question is do you have to open  Green Dot account in order to have the American Express Kabbage business checking? Ty!

Message 5 of 8
GatorGuy
Regular Contributor

Re: American Express Kabbage Business Checking

@gingerflower No idea, I see it says that but I haven't opened the savings account. Just sharing my previous experience. 

 

Its tempting since it is double the rate I have currently with Ally. 

Message 6 of 8
pizzadude
Super Contributor

Re: American Express Kabbage Business Checking


@gingerflower wrote:

So my question is do you have to open  Green Dot account in order to have the American Express Kabbage business checking? Ty!


My guess is that yes, you'd be opening your checking / savings account w Green Dot, although it might be branded as AMEX biz checking

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 7 of 8
gingerflower
Valued Contributor

Re: American Express Kabbage Business Checking

@GatorGuy 

@pizzadude 

Thank you both for replying I really appreciate it. 

Message 8 of 8
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