American Express sent out emails to customers today that the Kabbage business checking brand is being discontinued. Accounts will be fully closed on June 30, 2023. I’m surprised they are are closing everyone out and not transitioning them into the newer American Express Business checking product.
We’re consistently reviewing the products and services we offer. Because of these evaluations, we are discontinuing all Kabbage Checking accounts. You can use your Kabbage Checking account ending in XXXX as usual through May 31, 2023.
Starting June 1, there will be some changes. Although you will be able to move funds out of your Kabbage Checking account, you will be unable to deposit funds into your account and your account balance will no longer earn interest. On June 30, 2023, your Kabbage Checking account will close.
There are no changes to your American Express® Business Checking account
Your American Express® Business Checking account ending in ZZZZ will be unaffected by the closing of your Kabbage Checking account.