Deal has ended, view more bank account bonuses by clicking here.
Update 10/3/21: Looks like the $300 bonus is public now. If it doesn’t show up, make sure you have adblocker turned off. Valid until 12/15/21.
Update 7/22/21: FM was told by Kabbage that the $300 is targeted and won’t work for someone who did not receive the email.
Update 7/21/21: Seems like this offer link is generic and should work for anyone to get the $300 bonus. Hat tip to reader myi
Update 7/18/21: People are also being targeted for a $300 bonus when they make 5 debit card purchases. Offer sent out via e-mail, subject line is ‘Meet Kabbage Checking from American Express $300’. Hat tip to @SicParvisMagna_ & RacecarsOnIce
Update 6/14/21: This account finally made it to the news as it was officially sent out now to the press. I’m a little more hopeful now that the rate will actually last given how it’s being sent out but who really knows.
Original Post 6/4/21:
Kabbage by American Express offers a checking account which currently boasts an interest rate of 1.10% APY on the checking account and associated Reserve accounts ($100,000 in aggregate from all accounts together). Balances above $100,000 earn no interest at all.
The rate has been valid since 5/1/21, no word how long it’ll last. My guess is it’s a teaser rate to get new customers, but not really sure. It’s also possible that even if it comes down they’ll keep it at a competitive rate compared to other high yield accounts. We’ll add this to the top of our list of Best High Yield Savings Accounts.
Also interesting is that this is a checking account, and few checking accounts offer any interest at all. There is a Green Dot association here as well which might mean that it runs similar to other Green Dot prepaid accounts. Feel free to add your own thoughts and experiences in the comments below.
Hat tip to reader Thank you!