Opened American Express Kabbage Checking Account

[Red1Blue]

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.

[pizzadude]

---

@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 ?

[Red1Blue]

---

@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

[pizzadude]

---

@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.

[Anonymous]

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.

[pizzadude]

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/634...

[Red1Blue]

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.

[gingerflower]

@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...

[Anonymous]

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

[Anonymous]

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.