Every spring, Kabbage enters the account opening season. This is the time when Kabbage is supposed to help people open new checking accounts. Through a promotional campaign, Kabbage is going to be offering free checking accounts to any person who needs one. This is a great way for them to acquire new customers and grow their customer base.

A Kabbage checking account is a kind of checking account that lets you use your money to buy stocks and other financial assets. What’s so special about Kabbage is that you can go directly to your bank and use your checking account to buy stocks or other financial assets.

The Kabbage™ checking account is a no-fee business checking account with an incredible 1.10% annual return on balances up to $100,000! Read more about this great banking product below!

About Kabbage

Kabbage is a fintech company that was acquired by American Express in 2020. The company offers loans through an automated lending platform and banking products for small businesses.

Discharge account Kabbage

The online checking account in the form of a cabbage is a rarity in the business world. There are no monthly account opening fees or maintenance fees, and no minimum balance is required. This is music to every business owner’s ears (myself included), because it’s very hard to find a checking account for a business that doesn’t ignore you:

  • Monthly costs = 0
  • Network ATM recording = 0
  • Minimum balance required = 0

Not only is the Kabbage checking account very affordable, but it also offers an incredible 1.10% APR on balances up to $100,000! Based on a review of annual interest rates (APYs) for business checking accounts on the websites of Chase, Wells Fargo, and Bank of America on 7. May 2021. word-image-3525 word-image-3526 It’s better than any other business checking account I’ve seen. Other banks like Chase, Wells Fargo, and Bank of America don’t even come close. In fact, it beats most personal checking and savings accounts.

How do I open a Kabbage account?

Direct reference Click on the direct link above to open an account. Kabbage will ask you to provide some basic information about yourself and your business. The questions are simple and the whole process took less than 10 minutes. When I did, I was immediately approved for the application. They also didn’t ask me for any documents or financial details of the company.

Kabbage audit fee schedule

As I mentioned earlier, the rates are very competitive. Here you can find a table with the rates for the services offered by Kabbage:

Type of card Map
Monthly fee $0
Cash withdrawals from network ATMs $0
Cash deposit fee Varies by seller, up to $4.95.
Withdrawing money at an ATM outside the network*. $0
Costs for cash withdrawals 3.00 € per transaction
Balance withdrawals from ATMs outside the network*. $0
Replacement card $0
Charges for foreign transactions**. 3% of the total amount of the transaction
Compensation for outgoing internal transfer 25 per transaction
charges for paper cheques 20 per 100-pack $125 per 250-pack
  • * The ATM operator may charge you a fee (and there may be a fee for retrieving your balance even if you did not make the transfer).
  • **This charge is in addition to any other charges that may apply to your transaction, such as. B. Fees for ATM withdrawals.

The conclusion

I would not recommend products or services that I am not convinced about and do not use myself. When I discovered this business current account I immediately opened an account with Kabbage. This is a perfect match for the Chase Business Complete Checking account I opened for the $300 bonus. As the owner of a small business ( The Money Ninja is an LLC), I am always looking for ways to optimize my finances. This Kabbage checking account is a good choice for businesses because of its many free features and high interest rate. Yes, a return of 1.10% per year is impressive, given the current low interest rate environment. The interest rate is not 8.60% like BlockFi or the best place to invest your personal savings, but it is an ideal account for your corporate funds.

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