Kabbage Checking is likely to blend well with the lender's other offerings in a way that amplifies its value to prospective customers
Kabbage Checking to give SMBs access to traditional checking account services without fees or friction. Kabbage claims the application process takes minutes, and the account carries no monthly fees or balance requirements.Customers will earn a 1.1% APY on their deposits, and other benefits include the ability to deposit cash at 90,000 participating retailers and service centers across the US, free access to 19,000 ATMs, and a Wallets feature to help track savings goals.
Kabbage Checking is likely to blend well with the lender's other offerings in a way that amplifies its value to prospective customers. For example, its Kabbage Funding flexible line of credit could act as an overdraft cushion if used in conjunction with the checking account.
The new offering also represents a win for Green Dot in expanding its Banking-as-a-Service prowess — a timely strategy in light of the coronavirus pandemic. Green Dot has multiyear partnerships with major companies
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