Kabbage Checking

Kabbage Checking is the first checking account offered by American Express and is now available for any eligible U.S. small business to apply for and open an account. It’s also the first of several new digital cash-flow products to come from American Express which continue to push it well beyond a Card company.

What are the top three features of Kabbage Checking for small business owners?

The top three features our customers appreciate most are the 1.1% APY on balances up to $100,000, convenient deposit options, including mobile check deposits and cash deposits at over 90K participating retailers nationwide—many of which have longer operating hours than bank branches—and Reserves, which allows customers to set aside funds to save towards business goals or taxes. But we’re also glad to offer no monthly fees, no maintenance fees, no minimum balance requirements, free in-network ATM access, debit cards, checks, bill pay and easy account management all in the Kabbage app!

Why should a small business owner choose Kabbage Checking over a traditional business checking account with a brick-and-mortar bank?

Kabbage Checking is designed to give small businesses the benefits of both mobile and traditional banking. With in-app account management, mobile check deposits, and the Reserves feature, small businesses get the flexibility they need, while in-person cash deposits and free in-network ATM access give conveniences they’d expect. Adding to the fact there are no monthly fees, no maintenance fees and we offer a 1.1% APY on balances up to $100,000, a small business would be hard pressed to find the same benefits from a traditional bank.

Are there any new services or features in the pipeline for Kabbage?

In June, we began offering Kabbage Funding to existing small business customers, providing flexible lines of credit between $1,000 and $150,000. Together, the products are the first of several new cash-flow management products that use real-time data and automation to give customers a digital tool kit to help run and grow their companies.