Kabbage to offer checking account for small businesses
American Express is launching its first checking account for small businesses by leaning on technology acquired last year in the acquisition of online lender Kabbage, CNBC has learned.
The product, called Kabbage Checking, is a no-fee digital account that pays 1.1% interest on up to $100,000 in balances. It includes mobile check deposits, a debit card, bill pay and targeted savings features as well as access to a network of ATMs and retail locations for cash transactions.
