Question 1

How is the Brex business account different from a bank account?

Accepted Answer

The Brex business account includes a Checking account provided by our partner Column NA, Member FDIC. As with any other bank account for startups, you can use your Brex business account for depositing checks and for sending and receiving payments via ACH, check, and wire—even internationally.

The Brex business account also goes way beyond the standard bank account. You also gain access to Treasury and Vault, a cash management account offered by Brex Treasury (a FINRA-registered broker-dealer). With Vault, you can elect to keep your deposits across multiple program banks, and if you do, you’ll be eligible for FDIC insurance up to $6M in total. With Treasury, you can invest your deposits into a government money market mutual fund for high-yield.

Question 2

Where is my cash actually stored?

Accepted Answer

Brex doesn’t hold customer funds on its balance sheet, other than certain funds in transit. When your funds land in your Brex business account, they are held in your Checking account at our partner bank, Column NA, Member FDIC. Brex also leverages its own broker dealer regulated by FINRA/SEC to sweep (i.e., move money before the end of the day) customer deposits in two ways.

First, funds can be swept into Treasury, a money-market fund administered by Bank of New York Mellon, a bank with over $1.8 trillion in assets under management and considered one of the 30 systemically important banks to the global economy. This money market fund is AAA-Rated (see prospectus here), has daily liquidity and is designed for preservation of capital and maintenance of liquidity. The fund must hold at least 99.5% of its money in cash or securities backed with the full faith and credit of the U.S. Government.

Secondly, with Vault, customers can also elect to have their funds swept into our FDIC-insured program banks, listed here, to maximize their FDIC insurance coverage.

Question 3

Is Brex a bank?

Accepted Answer

Brex is a financial technology company, not a bank. Checking accounts and banking services provided by Column National Association, Member FDIC. Treasury and Vault services are offered by Brex Treasury LLC, Member FINRA and SIPC. Brex Treasury is not a bank nor an investment adviser.

Question 4

Are my deposits FDIC-insured?

Accepted Answer

All Brex customer funds are stored into either FDIC-insured accounts or money market funds.

For funds in Checking, our partner Column NA, Member FDIC, provides up to $250,000 in FDIC insurance.

For funds in Vault, at the end of every day Brex works with a sweep network to distribute funds across a list of program banks (listed here) to provide additional FDIC insurance up to $6M. The funds are held in each customer’s name (and not Brex’s), ensuring that the funds of each customer are individually insured by the FDIC.

For funds in Treasury, throughout the day Brex places trades to sweep the funds into a AAA-rated money market fund administered by BNY Mellon (a bank with over $1.8 trillion in assets under management) that must hold at least 99.5% in cash or securities backed by the US government. The fund shares are held in each customer’s name, and not Brex’s.

Question 5

What is required to open a business bank account?

Accepted Answer

Yes, Brex supports growing businesses worldwide. Customers must have some type of existing or planned operations in the U.S. and a U.S. or international address for their principal place of business. This can be a residential address, but may not be a registered agent, PO box, or UPS box address.

Learn more about the specific requirements for international founders here.

Question 6

Can I apply for an account if I’m not physically in the United States or a United States resident?

Accepted Answer

Yes, Brex supports growing businesses worldwide. Customers must have some type of existing or planned operations in the U.S. and a U.S. or international address for their principal place of business. This can be a residential address, but may not be a registered agent, PO box, or UPS box address.

Learn more about the specific requirements for international founders here.

Question 7

How much does a Brex business account cost?

Accepted Answer

Brex business account is free to use. There are no transaction fees, treasury fees, account minimums, overdraft fees, monthly fees, or account opening fees. Check out our pricing page for a full breakdown.

	Brex	Mercury	Traditional banks
Brex	Mercury	Traditional banks
No treasury fees
No treasury fees

Earn yield immediately	$0 minimum, starts on day 1	Only after $500K minimum deposit
Earn yield immediately
$0 minimum, starts on day 1	Only after $500K minimum deposit
Global money movement	40+ currencies	20 currencies, 1% fee	Varies
Global money movement
40+ currencies	20 currencies, 1% fee	Varies
100% liquidity and fast transfers	0 – 1 days	Up to 5 days
100% liquidity and fast transfers
0 – 1 days	Up to 5 days
Industry-leading FDIC insurance	Up to $6M through program banks	Up to $5M through program banks	$250K
Industry-leading FDIC insurance
Up to $6M through program banks	Up to $5M through program banks	$250K
Up to 40x higher card limits
Up to 40x higher card limits

Integrated, automated bill pay	Free	Limited	Limited
Integrated, automated bill pay
Free	Limited	Limited
24/7 live support			Varies
24/7 live support
		Varies

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}Best business bank account for startups

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}Banking that takes every dollar further.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}Modern checking, treasury, and vault in one place — with 4.91% yield earned* from your first dollar and no transaction fees.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}Protect your cash and extend your runway.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}Open an account in minutes to get the best of checking, treasury, and FDIC insurance — with 24/7 global support.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}CHECKING

Move money fast, worldwide.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}CHECKING

Move money fast, worldwide.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}TREASURY

Earn 4.91% yield from day one.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}TREASURY

Earn 4.91% yield from day one.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}VAULT

Stash your cash with confidence.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}VAULT

Stash your cash with confidence.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}$361M

Total yield earned by customers on Brex†

"Our Brex business account allows us to generate yield on our cash while seamlessly processing wires and ACH transactions. It's the best of both worlds."

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}$361M

Total yield earned by customers on Brex†

"Our Brex business account allows us to generate yield on our cash while seamlessly processing wires and ACH transactions. It's the best of both worlds."

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}Bank on a financial stack that scales with you.

Get the world’s most powerful card‡

Pay bills without lifting a finger

Reduce manual accounting work

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}See how banking through Brex stacks up.

Brex

Mercury

Traditional banks

Brex

Mercury

Traditional banks

FAQ

Where is my cash actually stored?

Is Brex a bank?

Are my deposits FDIC-insured?

What is required to open a business bank account?

Can I apply for an account if I’m not physically in the United States or a United States resident?

How much does a Brex business account cost?

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}Insights on banking for startups.

Building a global financial strategy

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The great reset: Post-SVB banking for startups

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}Get more from every dollar.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}}Get more from every dollar.

Best business bank account for startups

Banking that takes every dollar further.

Modern checking, treasury, and vault in one place — with 4.91% yield earned* from your first dollar and no transaction fees.

Protect your cash and extend your runway.

Open an account in minutes to get the best of checking, treasury, and FDIC insurance — with 24/7 global support.

CHECKING

CHECKING

TREASURY

TREASURY

VAULT

VAULT

$361M

Total yield earned by customers on Brex^†

$361M

Total yield earned by customers on Brex^†

Bank on a financial stack that scales with you.

Get the world’s most powerful card^‡

See how banking through Brex stacks up.

Insights on banking for startups.

Get more from every dollar.

Get more from every dollar.