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Platform Agreement

Brex Card Program Terms

Revised November 1, 2023

These Brex Card Program Terms set forth the requirements for your participation in the Brex Card Program and the terms that govern your use of Cards, including the process for obtaining and managing Cards through your Brex Account, and the issuance and use of Cards as governed by Issuer Terms between you and Issuers.

We may update these Brex Card Program Terms at any time, subject to the notice provisions herein, and your continued use of Cards will constitute acceptance of the updated terms.

These Brex Card Program Terms include an authorization for Brex to automatically debit your Linked Accounts for amounts owed for use of the Services, including Charges, Fees, Fines, and transactions you make on Cards.

Capitalized terms that are not defined in Section 5 have the definitions provided in the Platform Agreement.

Table of Contents

  • Payment Cards
  • Payments
  • Card Transfers
  • Brex Fraud Protection
  • Defined Terms

1. Payment Cards

1.1 Issuer Terms

Cards are issued by Emigrant Bank, Fifth Third Bank, N.A., or any other bank as identified on the back of physical Cards issued to you, on your Account page on our website, or in relevant program materials provided to you. Issuer is the creditor responsible for funding your Charges. These Brex Card Program Terms and the Issuer Terms concurrently govern your use of the Cards. You may only use the Cards if you consent to the applicable Issuer Terms. Please be aware that the Issuer Terms may state that (1) Issuers may update Issuer Terms at any time and (2) your continued use of the Cards constitutes your acceptance of such updated Issuer Terms.

1.2 Linked Accounts

We will use Financial Data to verify account balances and account information, identify spending patterns and potential fraud, determine and review spending limits, analyze and report transactions, and provide Services. You must maintain at least one Linked Account at all times and agree that Brex may directly debit any Linked Account for payment of amounts owed. You may change or update Linked Accounts through your Brex Account. Use of specific Services or features may also require Brex to access Company Data through Third-Party Services.

If you receive a Card with Daily Payments, you agree to designate your Brex business account as a Linked Account.

1.3 Spending Limits

Company spending limits are set by Brex, at its sole discretion, using Company Data and other data available to Brex including available funds and spending patterns, unbilled volume, financial projections, the nature and history of Company’s business, foreign exchange rate fluctuations if you transact in currencies other than U.S. dollars, and anticipated use of Cards. We may not disclose exact spending limits but may provide guidance identifying whether specific transactions or monthly volumes may exceed any spending limits. Spending limits are dynamic and may be modified at any time with or without Notice to you, including temporarily increases or decreases or reducing spending limits to $0.

Limits for Cards with Monthly Payments: We will often attempt to provide Notice before or soon after a potential spending limit decrease for Cards with Monthly Statements. There are times, however, where prior Notice will not be provided. In particular, you agree that we may not provide Notice when spending limits are increased or decreased as part of our regular periodic review of your spending limit based on the factors described above, and you understand such regular periodic adjustments are an inherent part of your Card.

Limits for Cards with Daily Payments: For Cards with Daily Payments, spending limits are set based in part on the available balance in Company’s Brex business account (formerly Brex Cash account) and may change as transactions are made from that account. Any authorized Charge, Fee, or Fine on a Card with Daily Payments may reduce your spending limit by a corresponding amount, which you understand may be greater than or less than the amount of the final transaction. When you use a Card to initiate a transaction at certain merchants where the amount of the final transaction is unknown at the time of authorization (such as hotels, gas stations, restaurants, and rental car companies), a hold may be placed on funds or securities in your Brex business account for an amount higher or lower than the final Charges.

For all Cards, Administrators may set Entity-specific and User-specific limits or controls through your Brex Account, but the aggregate spending limit for all Entities and Users (including Department Cards) may not exceed the total spending limit established for Company.

1.4 Requesting and Replacing Cards

Administrators may request Cards for Users through your Brex Account. Administrators are prohibited from requesting more than one active physical Card for any individual User other than for Users who are authorized to use one or more Department Cards. We may decide in our sole discretion not to grant requests for Cards or limit the number of physical or virtual Cards provided to any User.

In order to request a Card for any User, we may require Administrators to provide the User’s full legal name, contact information, personal address, and date of birth. Additional information may be required, as determined in our sole discretion. Cards may be denied or canceled due to changes in Issuer’s policies, as required by law, or for any other reasons we determine are appropriate in our sole discretion. Cards may be issued to Users as physical or virtual cards (a Card issued without an associated physical card).

Administrators may request that Users be issued Cards with specific restrictions made available by Brex. For example, we may allow Users to be issued vendor cards, which can only be used at specific merchants, or we may allow Users to be issued cards with expiration dates set by Administrator.

Administrators may request Department Cards. Any employee or contractor authorized to use a Department Card is considered a User, and all obligations relating to Users will apply with respect to such person. You are solely responsible for identifying and authorizing Users permitted to use Department Cards.

You are responsible for securing Cards, account numbers, and Card security features (including the CVV and PIN, if any). You will promptly notify us and take appropriate measures to prevent unauthorized charges when a Card is lost, stolen, breached, or needs to be replaced. In such cases, Administrators may request the issuance of replacement Cards by Issuers through your Brex Account. Replacement Cards may have new account numbers that could require you to update the Card on file for any scheduled or recurring payments. You are solely responsible for updating Card information stored with merchants where account numbers have been changed.

1.5 Using Cards and Unauthorized Use

Users may only use Cards for bona fide business-related Charges and transactions for Company purposes, and not for personal, family, or household purposes.

You understand that your Brex Account is commercial in nature and that certain consumer protection laws, such as the Credit Card Consumer Accountability, Responsibility, and Disclosure Act of 2009, do not apply to this Account. You agree that all Charges and other transactions in your Account will be treated as business transactions made solely for business purposes. You agree, in accordance with Section 135 of the federal Truth in Lending Act, that if at any time you have been issued ten (10) or more Cards for use by Users at Company’s request, then Company waives any and all limitations on its liability for unauthorized use of such Cards that it may have under the Truth in Lending Act.

You are responsible for selecting the individuals in your organization who are authorized to use Cards. You are responsible for all Card transactions and activities, including transactions made by your Entities. You agree to establish and maintain controls designed to ensure that the Cards are only used by authorized Users for bona fide Company business purposes and in compliance with the Platform Agreement, these Brex Card Program Terms, the Issuer Terms, and applicable law. You are responsible for Charges and transactions made by any person given access to Cards even if they are not the person associated with or named on the Card.

Brex, Issuers, Card Networks, or other intermediary Third-Party Service Providers (including merchant acquirers) may deny or reverse Charges for any reason. Brex is not responsible for any losses, damages, or harm caused by any Charges that are denied or reversed.

All Users are subject to the Platform Agreement and all terms, agreements, and policies incorporated by reference, including these Brex Card Program Terms, the Issuer Terms, and the User Terms. Company is responsible for ensuring that Users understand and comply with these obligations, including any amendments thereto.

1.6 Settlement Currency and Conversion

By default, all Charges, Fees, and Fines must be paid in your "Settlement Currency," which by default is U.S. dollars unless you and we agree otherwise. If a Charge is made on a Card in a currency other than the Card’s Settlement Currency, we will choose the foreign exchange rate (“FX Rate”) applied to the transaction. The FX Rate may vary from time to time or vary among customers depending on your relationship with us, the type of transaction being conducted, the amount, type of currency, the date and time of the currency exchange, and/or other factors we deem relevant. The FX Rate will typically include costs or other markups as determined by us in our sole discretion. You should expect that this rate will be less favorable to you than the rates we pay for foreign currency transactions or rates quoted online or in publications.

The amount of any Charge made on a Card will be calculated as of the date of the transaction and denominated in that Card’s Settlement Currency, which may be different from USD. You agree that the amount you owe for any such Charge is determined with reference to that Settlement Currency, and not to the USD equivalent if the Settlement Currency is other than USD. Such Charges are payable to Issuer or us, as applicable, in the amount of the Settlement Currency shown on your Periodic Statement, regardless of any subsequent changes in the currency conversion rate between the Settlement Currency and USD. This means that the USD equivalent of the amount you owe in the Settlement Currency on your Periodic Statement on the date you pay us may be higher or lower than the USD equivalent as calculated on your transaction date.

For each Settlement Currency, you agree to pay us the amount due in that Settlement Currency. For example, if you have $100 in Charges in USD Settlement Currency Cards, and 40 EUR in Charges in EUR Settlement Currency Cards, you agree to pay us $100 and 40 EUR, and not an equivalent amount in all USD or EUR. You may designate one of your Entities to pay us the amount due in the Settlement Currency on your behalf, but you remain responsible for paying such Charges.

If you do not pay us amounts due on the Due Date, then we may withdraw amounts due in USD from your U.S. Linked Accounts. In such cases, or if we allow you to pay us in USD for amounts due in your Settlement Currency, then we will determine the USD amount due using the currency conversion rate obtained from one of our Third-Party Service Providers on or near the date of withdrawal.

If we withdraw payment from a U.S. Linked Account and later receive payment in a Settlement Currency (for example, the payment in Settlement Currency is delayed in transit), then you agree we may refund you for overpayment in either USD or the currency we received from you, in our sole discretion, for the excess amount paid.

1.7 Disputing Charges

You are responsible for reviewing your Periodic Statements promptly and identifying any Charges that you believe are erroneous, unauthorized, or that you dispute.

If you and a merchant have a dispute regarding a Charge identified on your Periodic Statement, such as delivery of incorrect goods or services or being charged the wrong amount, you should first attempt to resolve the dispute with the merchant. If the dispute is not resolved to your satisfaction or if you believe the Charge is unauthorized, you may initiate a dispute through your Brex Account.

You understand that the Brex Card Program is subject to Card Network rules regarding chargebacks. The Card Networks have established procedures for resolving Chargebacks that may require you to provide details of the disputed Charge or associated documentation. Be sure to initiate disputes within 90 days of when the Charge posts to your account, as the Card Networks may not accept or process disputed Charges reported after this time.

Charges relating to disputed Charges and Chargebacks will be collected on the payment date if they are pending resolution as of the date that payment is due for the applicable Periodic Statement. Chargebacks resolved in your favor will be credited to your Brex Account on either the current or a future Periodic Statement. We may impose Fees, reduce your spending limits, or suspend access to your Brex Account or the Services if you fail to pay Charges relating to Chargebacks that are pending resolution on the payment date.

2. Payments

2.1 Periodic Statements

You, and not your Entities, are responsible for payment in full of all Charges, Fees, and Fines. We will provide you Periodic Statements identifying Charges, Fees, Fines, refunds, any other Card transactions, or other amounts owed or credited to your Brex Account, and identify items attributable to each of your Entities. Periodic Statements may be delivered daily, monthly, or as otherwise described in materials we provide to you when you receive your Card or otherwise indicated by Notice to you. When you sign up for a Brex business account and apply for a Card with Monthly Payments, we may offer you a Brex Card with Daily Payments to use once you are approved for a Brex business account while your application for the other Card is under review. If you accept this offer, the Brex Card with Daily Payments will be your temporary Card, and the terms of that Card will apply while your application for the other Card is under review. If we approve your application for a Card with Monthly Payments, the terms of that Card will apply upon Notice of approval.

At the end of each billing cycle, or as otherwise specified in your Periodic Statement, Brex will automatically debit your Primary Linked Account for all amounts owed as indicated on that Statement and still owed to us. Brex may, in its sole discretion, delay this debit for a period of time, and Brex may debit your Primary Linked Account the business day before the end of a billing cycle that day falls on a weekend or U.S. federal holiday. If an automatic debit fails for any reason, we will attempt to debit your Primary Linked Account again, or your other Linked Accounts, for the amounts owed. You may make additional payments by logging in to your Brex Account.

2.2 Failure to Pay, Set Off, Collections

If you fail to pay the full amount owed on time, we may attempt to collect amounts owed from any Linked Account, whether or not it is your Primary Linked Account or is currently connected to your Brex Account. We may collect partial payments for unpaid amounts from any Linked Account, but any partial payment is not a waiver of our rights and will not satisfy your obligation to pay in full.

Any amounts owed may be set off, debited, or collected from amounts in any Brex Account that you hold jointly with another party or open in the future even if your original Brex Account has been closed. We may exercise this right against Company or any of its respective successors or assigns, or any assignees for the benefit of your creditors, trustees, or receivers of Company assets. This right will exist even if we do not exercise it prior to the making, filing, or issuance of an arbitration demand, court order, or other action.

Any failure to pay the full amount owed to Brex when required is a breach of the Platform Agreement and these Brex Card Program Terms. You, and not your Entities, are responsible for all costs or expenses that we or Issuers incur in the process of collecting amounts owed but not timely paid, including legal or collections fees and including any expenses incurred by the actions or inactions of your Entities, and you are responsible for paying interest on such amounts at up to the maximum rate permitted under law, to the extent we decide to charge such interest in our sole discretion.

2.3 Authorization to Debit Linked Accounts, ACH Authorization

THIS SECTION PROVIDES AUTHORIZATION TO AUTOMATICALLY DEBIT YOUR LINKED ACCOUNTS, INCLUDING LINKED ACCOUNTS NO LONGER CONNECTED TO YOUR BREX ACCOUNT, FOR ALL AMOUNTS YOU OWE UNDER THESE BREX CARD PROGRAM TERMS. PLEASE READ IT THOROUGHLY.

Your Authorization to Debit Linked Accounts

You authorize Brex, Issuers, or their respective successors and assigns to collect amounts owed under these Brex Card Program Terms by debiting funds from your Linked Accounts (including Linked Accounts no longer connected to your Brex Account). If Brex, Issuers, or their respective assigns use the Automated Clearinghouse (ACH) network, the debits will be governed by the rules established by the National Automated Clearinghouse Association (NACHA) for business-related ACH debits. You also authorize us to debit your Linked Accounts for verification purposes (through microdeposits or similar means). Debits collected under your authorization may be carried out by and in the name of us or our successors or assigns.

Manner and Timing of Payment

We will debit Linked Accounts for all amounts owed to us in connection with our provision of Services. If we cannot collect these amounts via ACH or another method, you agree to immediately pay all amounts owed as directed.We may debit Linked Accounts separately for the payment of Fees that you incur.

You also authorize Brex to debit Linked Accounts for all amounts owed to us immediately, on any date (including before the due date), and without additional Notice where we determine, in our sole discretion, that (a) the total aggregate balance of Linked Accounts connected to your Brex Account is less than the balance minimums required by our underwriting criteria, (b) Company does not satisfy one or more of our other underwriting or credit requirements, or (c) Company or the amounts owed to us pose or may pose an unacceptable risk to Brex, its successors or assigns Program Partners, Third-Party Service Providers, or Issuers.

In the event there is an error in processing an electronic debit, you authorize us to correct the error by initiating an electronic credit or debit to the Linked Account in the amount of such error on or after the date such error occurs.

Withdrawing Your Authorization

To withdraw the debit authorization from a Linked Account (including your Brex business account), you must provide us 30 days’ notice. If you withdraw the debit authorization from all Linked Accounts, you must pay all amounts owed under your Brex Account before or upon providing notice, including Charges, Fees, Fines, and other amounts not yet reflected on your Periodic Statements, and you authorize us to debit your Linked Account for such amounts before the withdrawal of authorization takes effect. If you have a Card with Daily Payments, please note that revoking the authorization of your Brex business account as your Linked Account may reduce your Card spending limit or mean that you can no longer spend on your Card.

Withdrawal of a debit authorization does not terminate the Platform Agreement or your obligation to pay all amounts owed under these Brex Card Program Terms or the Issuer Terms. Company is responsible for all costs of collections and damages if amounts owed are not paid in full by Company when due.

2.4 Fees

We will disclose Fees to you when you are approved for a Card, in these Card Program Terms, or through our website. We may add new Fees or increase existing Fees upon 30 days’ Notice to you. We may also charge a new or increased Fee when you affirmatively agree to such Fee, even if that is earlier than 30 days after receiving Notice.

Fees we assess may include periodic fees, fees for Card issuance or replacement, fees applicable to certain transactions, usage fees, service fees, cash advance fees, fees for late payments, fees for failed payments or returned payments, fees for misuse of the Services, or other fees we disclose to you. You are responsible for Fees in addition to Charges and Fines.

In the event you fail to make timely payments of any amounts owed on your Brex Card, you will be assessed a late fee equal to 2.99% of the delinquent balance, or USD $38, whichever is higher. This late fee will be assessed one time upon each statement that is thirty (30) days past the due date.

To the extent you and we agree to the repayment of any delinquent amounts over time, you will be assessed an extended repayment fee of up to 10% of the outstanding delinquent balance, spread across equal installments, for repayment plans lasting longer than six (6) months.

3. Card Transfers

The Brex Card Transfer feature enables you to transfer a Brex Card from one User to another in limited circumstances, such as when your User departs from Company and their Card information is needed as a short term measure to maintain pre-approved business expenses. , If you elect to use this feature, the Card:

  • can only be transferred to your other Users (a) that you have authorized to use such transferred Card; and (b) have active Brex User credentials; and
  • can only be used at the same merchants used by the Card’s prior owner for card-not-present transactions.

Additionally, before electing to transfer Card ownership, with respect to each such Card, you must:

  • Review all existing spend on the Card and confirm that all merchants appearing on the Card transaction statement are acceptable and appropriate and may continue to be used for business purposes;
  • Ensure that the former cardholder destroys or returns all physical Card(s) and deletes all Card information from all of their devices; and
  • Ensure that you have any required consents from the former cardholder to the continued use of the Card.

Brex and Issuers are not liable for any losses you may incur as a result from your election to transfer a Card from one User to another.

4.0 Brex Fraud Protection

4.1 Introduction

Brex is committed to providing you with robust protections against unauthorized charges. Brex’s Fraud Protection Policy applies to all Card transactions, including those made in store, over the phone, online, at ATMs, or via a mobile device.

Under Brex’s Fraud Protection Policy, you will not be liable for unauthorized charges on Brex Cards provided you adhere to the Card Customer Responsibilities set forth below, are in Good Standing with us, and so long as charges are not a result of Cardholder Misuse or prohibited by the Brex Platform Agreement or Brex Card Program Terms. Notably, if applicable law imposes a greater or different liability to you or Brex, such applicable law shall govern.

4.2 Card Customer Responsibilities

Brex relies on you to provide timely and factual information about Brex Account and Card activity, and in return, Brex endeavors to protect you from fraud and to make efforts to remediate fraud activity. To facilitate this protection, you must adhere to the following standards of conduct in order to use Brex Cards and be eligible for Brex Fraud Protection.

4.2.1 Routine review of card transactions and reporting obligations

You must review the Periodic Statement associated with your Cards on no less than a monthly basis. You may review transactions at any time in your Brex dashboard, and should do so routinely. You must promptly Notify Brex of any unauthorized or fraudulent activity.

4.2.2 Deactivation of cards and cardholder account profiles

You must routinely audit your Brex Account Users in order to identify any Users that should no longer be active, including Users who resign, are terminated, and/or are no longer authorized by you to have a Card under your Brex Account. In these cases, you must deactivate and delete the User’s profile from your Brex Account promptly, no later than 48 hours from the change in such User’s status with you. If you are unable to remove the User’s profile using your Brex dashboard, you must Notify Brex within 48 hours of the change in such User’s status with you. In the event that you fail to do either, any continued use of the account may be considered “authorized,” in Brex’s sole discretion.

4.2.3 Deactivation of cards belonging to inactive users

You are expected to routinely audit your Cards to identify any Cards that should no longer be active, including Cards that belong to Users who resign, are terminated, and/or are no longer authorized by you to hold a Card under your Brex Account. In these cases, you must either promptly transfer the card as set forth in Section 3 of these Brex Card Program Terms, or deactivate and terminate the Card(s) within 48 hours of the User’s status change. If you are unable to deactivate the User’s Card using your Brex dashboard, you must Notify Brex within 48 hours of the User’s status change. In the event that you fail to do either, any continued use of the Card may be considered “authorized,” in Brex’s sole discretion. In the event a former Company User’s Card has an outstanding balance, you are responsible for satisfying the outstanding debt on the account.

4.2.4 Report lost or stolen cards in a timely manner

You must Notify Brex regarding the loss or theft of any Brex Cards within 48 hours of the event. This pertains to Cards issued under your Brex Account that are already received as well as Cards that are in transit and do not arrive.

4.2.5 Report lost or stolen electronic devices in a timely manner

You must Notify Brex within 48 hours of loss or theft of electronic devices that have been used, or could be used to access your Brex Account.

4.2.6 Protect accounts, cards and card information

You are expected to exercise reasonable care in protecting Brex cards, including PIN and card information, from loss, theft and unauthorized access. In addition to the responsibilities set forth above, reasonable care includes:

  • Promptly reporting if you suspect account and/or card information has been exposed or is being misused.
  • Protecting Brex accounts, cards and card information from access by any third parties who are not authorized to use cards.
  • Practicing safe computing (e.g. using unique and complex passwords, antivirus and anti-spyware software, firewalls, and other industry-standard safeguards).

Brex may periodically issue fraud alerts in the form of email, SMS, dashboard notifications and/or push notifications. Alternatively, Brex may lock a card to protect against potential fraud risk. Both of these actions are designed to signal the presence of unusual transaction activity.

  • While you may elect whether or not to subscribe to fraud alerts, if you opt out of these notifications you will not be eligible for Brex Fraud Protection.
  • You must make a good faith effort to respond to alerts in an accurate and timely manner in order to protect their Brex account(s).
  • Companies and Users who routinely ignore or consistently approve unauthorized charges, you may be subject to additional anti-fraud restrictions, may be ineligible for Brex Fraud Protection, and/or may no longer be eligible to use a Brex card.
  • If a card associated with your Brex Account is locked by Brex, you must review the card activity to determine if all prior spend is authorized. By unlocking a card, you acknowledge that the prior spend is authorized.

4.2.8 Respond and participate in Brex investigations

You and all relevant Users associated with your Brex cardholders must participate in any Brex investigation related to alleged unauthorized charges, and must be responsive to ongoing Brex investigations by providing any supplementary information and/or documentation that Brex deems necessary to complete an investigation.

  • We may deem you unresponsive if you fail to respond to Brex after three or more attempts to make contact.
  • We may deem you unwilling to participate in an investigation if you do not provide requested information within 5 business days or within the timeline required by applicable card networks, whichever is shorter.

4.3 Cardholder Misuse

Brex will not be liable for losses that result from Cardholder Misuse, including use of a Brex card:

  • To gain, or to deprive another (including their employer or Brex), of money or property, through deceptive or misleading conduct;
  • In a manner that knowingly or unknowingly violates the cardholder’s employer’s policies for card expenses, the Brex Platform Agreement, or these Brex Card Program Terms; or
  • That results from a lack of reasonable care in protecting Brex cards, including PIN and card information, from loss, theft and unauthorized access.

Cardholder Misuse may include, but is not limited to, the following categories of activity:

  • The misappropriation of their employer’s resources;
  • Transactions that exceed a user’s actual or intended Brex budget limit;
  • Use of corporate cards for personal benefit;
  • Making false or fictitious claims of fraud to Brex;
  • Falsification of records such as invoices, receipts and transaction statements;
  • Collusion with external vendors, merchants and/or suppliers;
  • Identity theft involving the personal information of their employer’s officers or other employees in order to create and/or use Brex accounts or cards;
  • Providing card information a third party for any reason other than for the purpose of completing an authorized charge with that third party;
  • Misuse by members of a cardholder’s household;
  • Provision of a card or card information to a third party other than for the purposes of making a specific transaction (even if the third party is a fellow employee or an authorized user of a different Brex card); and/or
  • Provision of a card information to a third party via a non-secure channel or means.

4.4 Dispute Crediting

4.4.1 Eligibility for Card Disputes Crediting:

You may request credit to remediate losses tied to unauthorized charges so long as you file a formal transaction dispute via the Brex Dashboard or through contacting Brex support. To be considered for crediting, you must meet the eligibility criteria for Brex Fraud Protection.

During the course of the dispute process, you may receive goodwill credit from merchants and/or service providers who seek to remediate customers in the event of fraud or abuse. In the event that you receive crediting from a third party, you must disclose this information to Brex during the dispute resolution process and return any duplicative credits applied by Brex. If you do not return any duplicate credits so received, Brex may reverse credits and/or withhold any future credits from your account and you may become ineligible for Brex Fraud Protection.

4.4.2 Provisional and Final Credits

Brex Provisional Credits are a conditional and temporary credit that may be given before the final outcome of the dispute is known. A provisional credit may be reversed for some of the following reasons:

  • The merchant issues a refund on the disputed transaction (in which case, a refund will be reflected on the account and the provisional credit will be removed);
  • A dispute is processed through the card network and adjudicated by the network to not be the responsibility of the cardholder (in which case, the provisional credit will be converted into a Final Credit); and
  • After further investigation, Brex determines that the dispute in question is not eligible for Brex Fraud Protection and/or determines you are responsible for covering the cost of the transaction

Brex Final Credits are intended to be a permanent credit issued when all investigations into the transaction by Brex have been completed. Brex reserves the right to revoke Final Credits if substantive new information about the dispute is made available after the investigation is closed. This may include the observation of a pattern of disputes received over time that collectively undermine the validity of any or all individual claims previously submitted.

5. Defined Terms

Authorized charge means a card transaction that is authorized by a cardholder, or by any third party who the cardholder has, at any point in time, permitted to use the card and/or have access to card information.

Brex Card Program means the program through which Issuers issue Cards and extend credit to you, and for which Brex provides Services.

Card means a physical or virtual payment card issued by an Issuer and managed through your Brex Account.

Card Networks means the payment card networks including Visa or Mastercard.

Issuer Terms means the agreement between Company and the Issuer of your Card concerning your use of the Cards.

Charge means a payment for goods or services made to a merchant that accepts payments on the applicable Card Network.

Chargeback means a dispute initiated against a merchant for an unresolved dispute with the merchant or where a Charge is unauthorized.

Card with Daily Payments means a Brex credit card with a spending limit based on your available Brex business account balance, with payments withdrawn automatically from your Brex business account or other Linked Account the following business day after the transaction clears.

Card with Monthly Payments means a credit card with a 30-day or other periodic statement period, with payments due for that statement period withdrawn from your Linked Account or Brex business account, if applicable.

Department Card means a Card issued in the name of a Company department to be used by one or more authorized Users.

FX Rate is defined in Section 1.6 (Settlement Currency and Conversion).

Good Standing means that you do not have an outstanding Brex card or cash balance, have not filed for bankruptcy, are not subject to any legal process that would materially impact your ability to repay Brex, and have not issued any failed payment instruments (e.g. checks) within the prior month.

Periodic Statement means the periodic statements that reflect activity for all Cards issued to Company identifying Charges, Fees, Fines, refunds, or other amounts owed or credited to your Brex Account during the time covered by that statement.

Primary Linked Account means the specific Linked Account you designate as the funding source we should use first for payment of Charges, Fees, and Fines on your Brex Account. By default, the Primary Linked Account is the initial Brex business account you open with us.

Settlement Currency is defined in Section 1.6 (Settlement Currency and Conversion).

Third party means any person or entity who is not the authorized cardholder and may include vendors, service providers, current or former employees of a company, or cardholders who are authorized to use a different Brex card.

Unauthorized charge means a card transaction initiated on a company’s card without the cardholder’s authorization where the company, the cardholder, and/or any company User did not obtain any direct or indirect benefit or where the intended benefit of purchased goods and/or services were significantly not as described by the merchant.

Notify means to inform Brex either by disputing a charge via your Brex Dashboard or by contacting Brex customer support by phone at (833) 228-2044, by email to support@brex.com, or through chat.