One of the small-business services currently offered by Kabbage is their checking account, which is an interest-earning product available to businesses across the United States. You can sign up quickly and easily online and manage your account from the same platform as Kabbage Funding™ and Kabbage Payments.
If you’re looking for an affordable, online-based business bank account, Kabbage may be a good choice for your business. If you do a lot of cash business or want to integrate your checking account with third-party tools, on the other hand, you may want to explore alternatives.
Min to Open
No Fee Balance
Kabbage only offers one business checking product, Kabbage Checking™. Because Kabbage is not a bank, the accounts are provided by Green Dot Bank and FDIC-insured through that institution up to $250,000.
Below are the features and fees included with the Kabbage Checking account.
To open a Kabbage Checking account, you must first create a Kabbage login. Once you’ve logged into your dashboard, you can complete and submit your business checking account application.
Kabbage will ask for basic details about you and your business, such as address, industry, federal tax ID, and Social Security number. You’ll need to include personal information for any individual that owns 25% or more of your business.
After you’ve submitted your application, Kabbage may ask for additional verification information, such as a driver’s license or business formation document. Once your application is approved, you can fund your account by bank transfer or direct deposit.
Learn more about how to open a business bank account online.
Kabbage is an online business checking account with no minimum opening deposit and no overdraft fees. Kabbage doesn’t charge for incoming domestic wires and gives you fee-free access to in-network ATMs.
In addition, Kabbage does not charge out-of-network fees for cash withdrawals—although the ATM operator may charge a fee.
Kabbage Checking earns a high-yield 1.10% APY on balances up to $100,000 as of this writing. No interest is earned on aggregate balances of over $100,000. Terms apply. There is no minimum balance required to earn interest, and interest is also accrued on all of your funds that are held in Reserves.
If you want to manage multiple financial services through one provider, you can use Kabbage for payments and funding—in addition to business checking.
Through Kabbage Payments, you can accept credit card payments from your customers using a custom pay link, or create and send customized invoices. With Kabbage Funding™, you can apply for a business line of credit up to $150,000. If approved, you can manage your account and repayments through the Kabbage dashboard.
You can also connect your Kabbage Checking account to Kabbage Insights, which will allow you to monitor your cash flow patterns as well as create and analyze financial forecasts based on your account data.
If you want to deposit cash into your Kabbage Checking account, you can do so at over 90,000 retailers around the country—but those retailers may charge a fee of up to $4.95 per deposit.
Businesses that have a lot of cash sales may prefer an alternative account, like NBKC, that does not charge cash deposit fees.
Although Kabbage Checking connects to tools within the Kabbage suite of products, it does not integrate with third-party solutions, such as accounting software, invoicing software, or e-commerce software.
Some competitors, like NorthOne, for example, directly integrate with popular tools such as QuickBooks Online, Wave, PayPal, Shopify, and Stripe, among others.
Kabbage offers customer service by phone and email. The support phone line is available Monday through Friday from 8 a.m. to 9 p.m. ET.
Recent online reviews of Kabbage across different websites, however, mention a poor experience with their customer service. These reviews touch on multiple products that Kabbage offers, including their business checking account.
Many reviewers mention that customer service is difficult to get ahold of, and others mention having problems with transfers or deposits that were not resolved by trying to work with the customer service team.
If you’re looking for a simple checking account to manage your finances online, Kabbage Checking may be a good option for your business. Kabbage Checking has a competitive interest rate, nationwide ATM access, and stands out with its ability to connect to the rest of the Kabbage product suite.
Businesses that are looking for joint accounts, third-party integrations, free cash deposits, or more comprehensive customer service will likely want to consider other accounts.
For additional options with no monthly fees, check out our guide to the best free business checking accounts.
To view the fees and limits of Kabbage Checking, see this page.
Randa Kriss is a senior staff writer at Fundera.
At Fundera, Randa specializes in reviewing small business products, software, and services. Randa has written hundreds of reviews across a wide swath of business topics including ecommerce, merchant services, accounting, credit cards, bank accounts, loan products, and payroll and human resources solutions.