AmEx Kabbage Checking
Jun 24, 2021, 9:03 am
#1
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AmEx Kabbage Checking
Now AmEx Kabbage checking is available. Just wonder if there is any value for MS purpose. It is managed by Green Dot Bank.
Right now it is for business checking. It offers some interest for cash balance. Not bad for a free business checking that pays some interest.
Right now it is for business checking. It offers some interest for cash balance. Not bad for a free business checking that pays some interest.
Jun 24, 2021, 10:35 am
#2
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$4.95 fee for cash deposits up to $5000/day. Did not see any sites where cash deposits could be fee free.
Jun 24, 2021, 10:57 am
#3
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Jun 24, 2021, 4:52 pm
#4
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It might still be good if one is charged $4.95 for a deposit of a $1000 VGC. I think that a 0.8% cost for moving VGC money into an actual checking account might be doable, especially if one could do the deposits from home.
I suspect that they are going to scrutinize your business somewhat carefully before giving you an account and if I read the fine print, which I have not, there are restrictions on the above behavior
Jul 22, 2021, 12:26 pm
#5
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I have an AMEX PLAT BUSINESS card. I received an email to "join" KABBAGE, $300 after 5 debit purchases, 1.10% interest for balances up to $100,000. I went through the application process, but was REJECTED Any idea of why?
PS: I've been with AMEX since 1968.
Any idea of why?PS: I've been with AMEX since 1968.
Jul 22, 2021, 2:38 pm
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Jul 22, 2021, 3:19 pm
#8
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Seriously no idea. You have not given out any information at all. We can't possibly guess when we know literally NOTHING.
Jul 22, 2021, 7:20 pm
#9
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I went through all the steps in the application process, my "business address" was my home address. The application process asked for the "usual" info: ssn, dob, how long I was in "business" etc. At the end I was rejected. In parallel with the application I was logged into my AMEX acct. So all info I gave was easily verifiable by AMEX. At the end the message was "your company does not qualify..." I don't know what else I can add.
Jul 22, 2021, 7:33 pm
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In any case, I wasn’t planning to apply for it anyway.
Jul 22, 2021, 8:15 pm
#11
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I still remember years ago, when I opened my business checking, it was such a big deal for the bank. The bank has requested this and that.
IIRC - your business should be a Schedule C business. For some banks, that may give them the hesitation.
Jul 23, 2021, 4:07 pm
#12
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My guess is on the business itself.
I still remember years ago, when I opened my business checking, it was such a big deal for the bank. The bank has requested this and that.
IIRC - your business should be a Schedule C business. For some banks, that may give them the hesitation.
I still remember years ago, when I opened my business checking, it was such a big deal for the bank. The bank has requested this and that.
IIRC - your business should be a Schedule C business. For some banks, that may give them the hesitation.
sure that it was based totally on my personal credit history, since my "company" had NO credit history.
Jul 23, 2021, 4:25 pm
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Jul 23, 2021, 8:41 pm
#14
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Correct. "Business" credit cards are issued to individuals, not to companies. The criteria to qualify for a Kabbage account are apparently different than the criteria to qualify for a credit card.