Warning: you will have to turn over your entire banking transaction history for 365 days +your funding bank balance -- to fund your Kabbage account, unless you're willing to pay $25 fee to wire in a funding deposit.
You will have no way to revoke the feed they have to your bank transactions access once access is granted. Be weary of any "link your bank" services, as they all operate the same way.
expired Posted by skeleton516 • Oct 25, 2021
Oct 25, 2021 5:36 AM
Item 1 of 1
expired Posted by skeleton516 • Oct 25, 2021
Oct 25, 2021 5:36 AM
New Kabbage Checking Accounts: Complete 5 Debit Card Purchases & Earn
(Within 45 Days of Acct. Opening)$300 Cash Deposit
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You should know that Plaid, Yoodle and companies like them scrape your personal bank account information using your username + password, and then they will use that for their own data mining purposes --- in addition to providing the data to the requesting company as part of their service.
- In this case they are obtaining all your bank transactions over 365 Days and your balance to make it available to Green Dot bank.
- they will maintain this access until you change your Funding Bank account password.
The only way to stop Plaid and Yoodle from harvesting your personal and financial information after you've used any "login to verify your bank" services is by changing your Bank password.
NOTE: Plaid/Yoodle etc can gain access to all your banking information, including mortgages, loans, credit cards etc. as they login to your account pretending to be you and scrape data that your bank may present to you on your bank home page. While in this case scope is limited to your transactions over 365 days and balances, other companies may try to extract as much information as possible about your finances, without you knowing.
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Since they have no other funding source option (w/o turning over my entire finances to this no-name bank, or incurring a $25 wire deposit fee) it seems like I'll have to pass on the deal.
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This time, as suggested by others, I just said I was a sole-proprietor.
I used my home address.
Let's see if it deposits $300 after making 5 debit card purchases. Keeping fingers crossed.
And I was approved.
They had an offer earlier in the year.
I told them I was a LLC and gave them my EIN.
They wanted my tax return among other things, so I dropped it.
Disable ad-blocker.
I saw the offer in a banner at the top of their home page after I disabled mine.
Organizational Documents (Articles of Incorporation OR Certificate of Incorporation)
Organizational document
These documents are based on the structure of your business, including Articles of Incorporation, Operating Agreement, and Certificate of Incorporation.
Kabbage Funding™, Kabbage Checking™ and Kabbage Insights™ are trademarks of American Express.
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But seriously do you really want a bank that misspells the name of your least favorite vegetable?
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Attempted to transfer funds from my credit union account, no go. "We're unable to link your account at this time. Please try again later and contact Kabbage support team if the issue persists."
Attempted to transfer funds from my T-Mobile checking, again a no go. "We didn't find any results for T-Mobile. Try adjusting your search terms or search for another institution."
Third try successful, transferred $100 from my USAA account (couldn't transfer more because this was such a small account).
Looks like it's going to be a PIA transferring money into and out of this account, using my USAA account as a proxy between my main cash holding accounts and the Kabbage checking account.
I should be transferring funds only once a month ... so I guess I'll just have to live with the inconvenience.
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