American Express has announced that its Kabbage Business Checking brand will be discontinued, and all accounts will be closed on June 30, 2023. The decision to discontinue the Kabbage checking accounts is a result of consistent product and service evaluations. Although customers can continue to use their Kabbage checking account as usual until May 31, 2023, there will be some changes starting June 1. Customers will no longer be able to deposit funds into their account, and their account balance will no longer earn interest. However, they can still move funds out of their Kabbage checking account. It is worth noting that the closure of the Kabbage checking accounts will not affect American Express Business Checking accounts. Customers with an American Express Business Checking account ending in zzzz will not be affected by the closure of their Kabbage checking account.
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