Platform Agreement

Program Banks List

Revised May 8, 2023

The following is a list of partner banks that currently participate in our FDIC Sweep program. Please check this list periodically, as partner banks may be added or removed. Uninvested cash in your Brex business account will automatically be swept into these banks in a predetermined order, and you will be eligible for up to $250,000 in FDIC insurance as described in the Brex Business Account Sweep Disclosure:

  • Axos Bank, Member FDIC
  • East West Bank, Member FDIC
  • Hinsdale Bank & Trust Company, N.A., Member FDIC
  • Lake Forest Bank & Trust Company, N.A., Member FDIC
  • LendingClub Bank, N.A., Member FDIC
  • Merchants Bank of Indiana, Member FDIC
  • Old Plank Trail Community Bank, N.A., Member FDIC
  • Town Bank, N.A., Member FDIC
  • Wheaton Bank & Trust Company, N.A., Member FDIC
  • Barrington Bank & Trust Company, N.A., Member FDIC
  • Northbrook Bank & Trust Company, N.A., Member FDIC
  • State Bank of the Lakes, N.A., Member FDIC
  • Wintrust Bank, N.A., Member FDIC
  • UMB Bank, N.A., Member FDIC
  • Beverly Bank & Trust Company, N.A., Member FDIC
  • Crystal Lake Bank & Trust Company, N.A., Member FDIC
  • Libertyville Bank & Trust Company, N.A., Member FDIC
  • Exchange Bank, Member FDIC
  • Schaumburg Bank & Trust Company, N.A., Member FDIC
  • Poppy Bank, Member FDIC
  • Flagstar Bank Bank, N.A., Member FDIC
  • Cornerstone Capital Bank, Member FDIC
  • Farmers and Merchants Bank, Member FDIC
  • St. Charles Bank & Trust Company, N.A., Member FDIC
  • Village Bank & Trust, N.A., Member FDIC
  • The Freedom Bank of Virginia, Member FDIC

If you have any questions or want to opt out of any partner banks (which you can do at any time), please email contact@brex.com. Please see our program disclosures for more information.


Do I still have access to my cash that’s been swept to the partner banks?

Yes, your uninvested cash in the partner banks is available for withdrawing, spending, and investing through your brokerage account.


What if I already have an account at one of your partner banks?

FDIC insurance at each partner bank takes place at the customer level. So, if you already have deposits at one of the partner banks then those deposits will be aggregated with your Brex business account balance to determine the $250,000 FDIC insurance limit.


Terms subject to change. Brex Inc. provides a corporate card. The Brex Mastercard® Corporate Credit Card is issued by Emigrant Bank, Member FDIC.


Brex Treasury LLC is an affiliated SEC-registered broker-dealer and member of FINRA and SIPC that provides Brex business accounts, accounts that allows customers to sweep uninvested cash balances into certain money market mutual funds or  Federal Deposit Insurance Corporation (“FDIC”) insured program bank accounts at Brex’s partner banks. Investing in securities products involves risk. Brex Treasury is not a bank, and your Brex business account is not a bank account. A list of partner banks is available at https://www.brex.com/legal. Please visit the Deposit Sweep Program Disclosure Statement for important legal disclosures.

Brex Treasury is not an investment adviser, and therefore investors should consider the investment objectives, risks, and charges and expenses carefully before investing. Brex Treasury LLC does not charge transaction or account fees. However, money market funds bear expenses and fees. Contact us for a copy of the fund prospectus and recent performance data. You should read the prospectus carefully before investing.

You could lose money by investing in a money market mutual fund. Although the fund seeks to preserve the value of your investment at $1 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the FDIC or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund and you should not expect that the sponsor will provide financial support to the fund at any time. Although the fund’s board has no current intention to impose a fee upon the sale of shares or temporarily suspend redemptions if the fund’s liquidity falls below certain levels, the board reserves the ability to do so after providing at least 60 days’ prior written notice to shareholders.

Uninvested Balances in your Brex business account will initially be combined with Uninvested Balances from other Brex Treasury customers and deposited in a single account at LendingClub Bank, N.A. (the “Clearing Bank”), Member FDIC. Within two business days, funds are transferred to a disbursement account at a Brex Treasury Third-Party Service Provider (the “Settlement Account”), and then swept automatically into omnibus deposit accounts established by Brex Treasury in its name on behalf of Brex Treasury customers at Brex’s designated partner banks“Program Banks”. Only the first $250,000 in combined deposits at any partner bank will be subject to FDIC coverage. FDIC coverage does not apply to deposits while at the Clearing Bank or any account at an intermediary depositary institution. Deposits that are in the Settlement Account while in the process of being swept to or from a partner bank will be subject to FDIC coverage of up to $250,000 per customer (combined with any other customer deposits at the bank holding the Settlement Account).

These money market mutual funds are suitable for investors who are seeking as high a level of current income as is consistent with preserving capital and maintaining liquidity.

Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.


Brex business accounts are not available to all investors. This is not an offer, solicitation of an offer, or advice to buy or sell securities, or to open a brokerage account in any jurisdiction where Brex Treasury LLC is not registered.

Services may be provided by Brex Payments LLC (NMLS #2035354).