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 is provided by Column National Association, Member FDIC. Treasury and vault are offered through 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

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

For funds in checking, our partner Column National Association, Member FDIC, provides up to $250,000 in FDIC insurance.

For funds in vault, at the end of every day Brex treasury works with a sweep network of banks to distribute funds across a list of program banks (listed here) to provide 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 FDIC.

For funds in treasury, throughout the day Brex treasury places trades to sweep the funds into a Dreyfus Government Cash Management Fund (DGVXX), 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.

In the unlikely event something happens to Brex, SIPC and FINRA, Brex’s regulator, have access to Brex’s custodial records, along with the records of partner banks and BNY Mellon, to remit those funds back to you. Given the immediate liquidity of all the assets held in Brex business accounts, the remittance of funds should take less than a day. Brex treasury is a broker dealer regulated by FINRA, and all records, processes, systems, and personnel are regularly examined within FINRA guidelines.

Question 5

What is required to open a business bank account?

Accepted Answer

Brex business accounts are a great fit for startups who have or are planning to raise funding and for established growing companies. To apply for a Brex business account, you’ll need: your business address, incorporation details, and personal information on your company owners, including either a SSN or a valid photo ID. Additionally, you’ll need to know if you are subject to backup withholding. Check out more info 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 open. There are no treasury transaction fees, account minimums, overdraft fees, monthly fees, or hidden fees. Check out our pricing page for details.

Question 8

What makes Brex's approach to startup business bank accounts innovative?

Accepted Answer

With Brex, you get access to checking, treasury, and vault in one account. And businesses earn yield from their first dollar, compared to other competitors who often force you to hit a certain threshold before earning yield. The Brex business account also comes integrated with automated bill pay, and is built on a financial stack that gives you access to corporate cards, spend management, travel, and accounting automation.

Question 9

What are the key factors to consider when choosing a startup bank?

Accepted Answer

When running a startup, every dollar counts. Brex helps you make every dollar go further right from day one — with yield from your first dollar, 20x FDIC coverage on your cash, no treasury transaction fees, and up to 40x higher limits.

Question 10

How does Brex's startup bank account solution help maximize your cash flow?

Accepted Answer

Brex comes with access to yield-earning treasury from the day you open your business account. Paired with the world’s smartest corporate card, startups are able to extend their runway and maximize their spending power the moment they set up their account.

And with auto transfers allow you to earn on unused operating cash, so that every dollar goes further. Plus, by pairing a Brex business account with a Brex corporate card, startups get access to up to 40x higher credit limits.

Question 11

Why is Brex considered the best business banking solution for startups?

Accepted Answer

Comparing Brex to other competitors, it’s clear that Brex offers the best, most supportive banking solution for startups — from day one. Startups get access to:

Easy onboarding: The process is quick and straightforward, allowing startups to set up accounts and start managing finances without extensive paperwork or delays.

A modern banking solution: Get access to checking, treasury, and vault in one place, with 24/7 global support. Startups get all the tools and accounts they need to hit the ground running.

Yield from your first dollar: Startups can extend their runway by earning yield from their first dollar, instead of having to hit thresholds forced upon them with other banking options.

Up to 20x FDIC coverage: You get access to up to $6M in FDIC coverage through 20+ program banks, with the ability to transfer funds into your checking account at any time.

Question 12

How can you open a Brex business account in just minutes?

Accepted Answer

To apply for a Brex business account, you’ll need: your business address, incorporation details, and personal information on your company owners, including either a SSN or a valid photo ID. Check out more info here.

If all details are correct and confirmed, you are able to get up and running in no time.

Question 13

Does Brex offer invoicing?

Accepted Answer

Yes! Brex has invoicing built right into your Brex business account. So, if you're a startup looking for easy invoicing, or just need to handle your accounts receivables with no hassle, Brex has you covered. You can create and send invoices, keep track of who's paid and who hasn't, and reconcile incoming payments – all from the same place you manage your spending and banking. No more jumping between different platforms - now you can handle your revenue in the same place as your expenses.

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

Earn yield immediately	Start investing on day 1	Only after depositing $500K+
Earn yield immediately
Start investing on day 1	Only after depositing $500K+
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	Included	Limited	Limited
Integrated, automated bill pay
Included	Limited	Limited
Built-in, online invoicing
Built-in, online invoicing

24/7 live support			Varies
24/7 live support
		Varies

Startup banking that takes every dollar further.

Modern banking, invoicing, and treasury in one place. Start earning 3.95% yield* with same-day liquidity from day one.

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

Move money fast, worldwide.

CHECKING

Move money fast, worldwide.

TREASURY

Earn 3.95% yield with same-day liquidity.

TREASURY

Earn 3.95% yield with same-day liquidity.

VAULT

Stash your cash with confidence.

VAULT

Stash your cash with confidence.

INVOICING

Simple invoicing, built into your banking.

INVOICING

Simple invoicing, built into your banking.

$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."

$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."

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

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?

What makes Brex's approach to startup business bank accounts innovative?

What are the key factors to consider when choosing a startup bank?

How does Brex's startup bank account solution help maximize your cash flow?

Why is Brex considered the best business banking solution for startups?

How can you open a Brex business account in just minutes?

Does Brex offer invoicing?

Insights on banking for startups.

Powering the next generation of startups with modern banking

Building a global financial strategy

Answering common questions about the Brex business account

Scale AI closes the books 5 days faster with Brex.

5 ways fast-growing startups optimize their cash management

Get more from every dollar.

Scale faster with a free account that makes it easy to save, spend, and grow your cash.

Get more from every dollar.

Scale faster with a free account that makes it easy to save, spend, and grow your cash.

Total yield earned by customers on Brex^†

Total yield earned by customers on Brex^†