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.Â
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!
So, kabbage.com now is part of AmericanExpress.com. When I try to login with the old kabbage credential, it’ll ask me to signup for Amex registration, or login to it. I already have an Amex Business checking, and when I try to login with that Amex login, it just has my CC and Amex business checking, nothing for Kabbage.
Not sure how to get my tax document now…hmm, I dont know the interest on it.
Check back later, and now I can see the Kabbage account but since it’s locked, I can’t even view the documents and tax document, etc. Hmm.
I want to do the Kabbage Funding offer but from the feedback, seems like this should be called Garbbage bank
I was rejected for a Kabbage checking account back in December 2021 (“Unfortunately, based on the information provided to us, we cannot approve a Kabbage Checking account for your business at this time.”) Today, almost 11 months later, I got an email saying “Your application for Kabbage Checking has been approved.” I called and asked if I’d get the bonus that was available when I applied. Told no, I asked them to close the account.
They said they would close the account as I requested. That implies they opened an account.
When you called, they asked the standard identity verification questions and then confirmed that an account had actually been opened?
Yes
Thanks, I want to make sure P2 is prepared before making them call.
Same here, got rejected for a Kabbage checking account back in December 2021, but received a debit card today, such a mess system.
This bank got to be the worst bank in the history of DOC. Refusal of closing our account and instead keeping it opened but locked. I keep getting statement notices from this bank too. I did receive a check of 15c which I don’t remember but it came from green dot. I disposed the check because I didn’t recognize it. Anyway, my last statement notice was on the 29th of Sept. So let’s see if it is fully closed if I receive one in Oct 29th.
Just got a fraud alert on my Kabbage debit card that a $100+ charge was made at “SP BLOOM NUTRIT”. I see on MtM that other people are getting fraud on their debit cards too.
Thing is, this account was “closed” (or locked) in May.
When I reply “NO” to the text that the charge is fraudulent, they ask me to call in and provide Kabbage’s real customer service phone number, so this is truly from Kabbage and not someone spoofing them.
Anyway, I’m not wasting time calling these fools about fraudulent charges on an account with $0 in it that they supposedly closed over 5 months ago.
What a rinky-dink, piece of crap operation. Hope you all also closed your accounts immediately after getting your bonuses.
So did anybody figured out if the account is really closed when it says locked? does it disappear after ~60 days of asking them to close?
I think mine finally closed after they had to send me like a 10 cent check to clear out the balance. I only received one more statement notification after that, and then no more.
Another DP that I had to call to close and receive a check for 15 cents. Also, got a spammy looking email the next day from greendot Bank saying my “refund check” was being processed. Pretty sure it’s associated with this account closure.
Also called to close, got transferred to banking specialist who did the final processing.
She said accounts would automatically close after 60 days at 0 balance. I zeroed out my balance about a week ago
Anyhow, I’m just “locked”, so hopefully it closes eventually
it doesn’t. it’s been at least 6 months now, it hasn’t closed yet.
Just called to close this account, per the DPs stating that calling was necessary, and wow, that was painful. They couldn’t close without me zeroing out, which I couldn’t do because the balance was less than 10¢ (has to be $1+). They stated that I could make a purchase (??!!!) or they could issue a refund check. I asked them to just remove the balance but they said they can’t and a refund check would be the only option. Seriously?
Other DP I didn’t see mentioned, though I could have missed it, is that when closing, they informed that I could not open another Kabbage Checking account in the future. Not that I would but info nevertheless.
REQUESTED TO CLOSE THE ACCOUNT AND THE ACCOUNT IS LOCKED. IS THAT NORMAL?
just to follow up on this.
I requested closure via their phone on Feb 15th, and I was informed that normally, it’ll be deleted after 60 days of it being locked which is April 16th…
It’s now May 31st, or 105 days since I requested closure and it’s still just ‘locked’.
maybe our account online access is locked but the account is closed
Maybe, I’m just going by what it said on the account status for my checking account. It said the same thing as when i first requested it back several months ago. So, nothing change from what I seen.
I got the same answer to wait for 60 days for account to be completely closed. When I asked for the 60 day mark exactly, the rep couldn’t give a precise answer.
I called on 11/30/21 to close the account. I still receive the email notice that my checking statement is available from time to time. Actually I just got one today 6/24/22. Anyone else?
I just started receiving e-statements from Kabbage lol. I requested to close it but account is locked. No idea if its 100% closed.