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.
expiredskeleton516 posted Oct 25, 2021 05:36 AM
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expiredskeleton516 posted Oct 25, 2021 05:36 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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A month ago, I tried to contact Kabbage for further account details. I tried to get answers to these questions via their Customer Service number (888) 986-8263. However my calls were repeatedly cut off as soon as the call exceeded 10 minutes waiting on hold. This happened 4 times in a row.
So, I tried contacting them by email ([email protected]). A month later and still no reply to my simple questions.
Last night, I tried contacting Customer Service by phone again. After a series of different menu options, I received a recorded message that their Customer Service was closed and to call back during regular hours. (Mind you, nowhere do they mention what their regular hours are! You have to guess what their hours are.)
This morning, I tried contacting Customer Service by phone again. This time, there was no option for any live agent. Every choice led to either a recorded answer, a website referral, or a leave a message at the beep.
I can see that this is going to be a very short-lived relationship.
1.1% interest
I'm not sure if I did it right by adding the external bank account through "linked accounts" instead of the "Transfers" page, as it says "Connecting your (external) account lets Kabbage review your business performance on an ongoing basis. When we have a full picture of your data sources, we can provide the most relevant products and offers."
Don't really want Kabbage doing that on an ongoing basis.
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A month ago, I tried to contact Kabbage for further account details. I tried to get answers to these questions via their Customer Service number (888) 986-8263. However my calls were repeatedly cut off as soon as the call exceeded 10 minutes waiting on hold. This happened 4 times in a row.
So, I tried contacting them by email ([email protected]). A month later and still no reply to my simple questions.
Last night, I tried contacting Customer Service by phone again. After a series of different menu options, I received a recorded message that their Customer Service was closed and to call back during regular hours. (Mind you, nowhere do they mention what their regular hours are! You have to guess what their hours are.)
This morning, I tried contacting Customer Service by phone again. This time, there was no option for any live agent. Every choice led to either a recorded answer, a website referral, or a leave a message at the beep.
I can see that this is going to be a very short-lived relationship.
Doesn't matter if you change your password, once you give them the password they can download months or years of transactions in a second, that no only shows what type of stuff you buy, but also how much you spend and WHERE YOU HAVE been at any time. Not only that, say you split a bill between friends at a restaurant, they can associate you together with timestamp of the restaurant charges. This is BS when there is API technology and simple ACH using routing number that does the same thing.
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