Amex Kabbage Checking Now Offers $300 Bonus
Last month we wrote about the first American Express checking account, called Kabbage Checking. This is an account for small businesses that offers an impressive annual percentage yield of 1.10%. Now some people are receiving offers for a $300 bonus when opening one of these accounts. The offer was sent out by email, and seems to be targeted. Let’s check the details.
Update: We have received confirmation from a Kabbage rep that this bonus is indeed targeted. The offer was showing here, but it is “only available to a limited segment of customers as an initial test.”
The Offer
Earn a $300 cash deposit into your Kabbage Checking account after you complete a total of 5 debit card purchases within 60 days of account opening. You must apply and be approved by 9/8/21.
Key Terms
- $300 bonus will be deposited 8-12 weeks after account opening.
- Limit one offer per new Kabbage Checking account.
- The Kabbage Checking Account is provided by Green Dot Bank.
Conclusion
The Kabbage Checking account offers a 1.10% APY for small businesses. That’s a great rate already. Add a $300 bonus on top of that, and this is a no brainer for those who have received emails with the offer.
If you’re looking for a big bonus instead, we have a list of nationwide bank bonuses here.
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I funded it with a direct transfer from my bank. For the business, I listed myself as a freelancer (which I have been but am not right now). They did not require a business name or ein number or anything like that. They did not do a credit check.
I’ve used it for five small purchases and am now sitting back and waiting.
I received this offer. Do they do a hard pull on your credit report?
Will hold off until September. I got the email on my personal Amex account and I don’t have a business account. Do you really need to have a business to open a Kabbage checking account?
Received the invitation and intending to take advantage of it. I wrote to AMEX asking if we will be able to fund these accounts with debit cards from other banks. Received a canned FAQ type response, followed up with a more direct question, but never received an answer to that more specific probing.