Today, Kabbage announced the launch of their new small business checking account called Kabbage Checking; it is being offered in partnership with Green Dot Bank and has a rich set of features including no minimum balance, no monthly fees, a 1.1% interest rate on balances, the ability to deposit cash at 90,000 locations and more; it is targeted at small businesses who have typically not received a great experience at their bank; Kabbage has garnered 225,000 new customers from the Paycheck Protection Program and they are a prime market for this account as many are frustrated with their existing bank; the waiting list is now open and the launch will happen later this year; the process to open a new business checking account should take less than ten minutes. Lend Academy.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.