Question 1

Is Brex a bank?

Accepted Answer

No. Brex is a financial technology company registered as a broker-dealer, member firm of FINRA / SIPC. However, Brex does partner with FDIC-insured banks to store your uninvested cash deposits.

Question 2

Is Brex Cash a bank account?

Accepted Answer

Brex Cash is not a bank account; it is a cash management account offered by Brex Treasury (a FINRA-registered broker-dealer) that functions very much like a business bank account. You can securely deposit checks via our mobile app; send and receive payments via ACH, check, and wire—even internationally; and manage spending for your company’s different users. All with no fees, minimums, or limits.

Your money can be stored with Brex's partner banks (eligible for FDIC insurance up to $250,000) and/or government money market mutual fund. It's your choice! You'll also get unlimited corporate credit cards for secure spending, automatically paid daily like a debit card—while giving you cash back on every purchase and building your business credit.

With Brex, you don’t need other bank accounts, cards, or accounting software. You get everything you need, all in one.

Question 3

Do my funds benefit from any protection?

Accepted Answer

Yes. 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.

Any deposits you maintain as uninvested cash will be placed into one of our partner banks. All funds in a Brex partner banks will be covered by FDIC insurance up to $250,000 per partner bank. You can find the current list of our partner banks here. Your funds are automatically distributed among partner banks to ensure maximum coverage.

If you currently have an account at one of our partner banks, you may be already utilizing your maximum coverage from that bank, and wish to opt-out of that bank with Brex Cash. To do that, please contact support@brex.com.

For more information on Brex Cash’s FDIC Sweep option, please review the Brex Treasury FDIC-Insured Deposit Sweep Program Disclosure Statement.

Question 4

What fees do you charge?

Accepted Answer

Brex does not charge transaction fees or account fees.

Brex Treasury LLC is paid distribution fees directly from the money market fund (also known as 12b-1 fees) for the trade and placement of securities. Money market fund deposits bear fees and expenses. Please see the applicable fund prospectus for details. Wire transfers, both inbound and outbound, are free to send for Brex Cash customers.

Brex and our partner banks do not charge fees to send or receive international wires with Brex Cash. However, when sending funds internationally, funds may be sent through third-party banks. Third-party banks may charge fees to cover their costs. In addition, the recipient’s bank may charge the recipient a fee to process the wire.For additional information, please refer to our rates & fees schedule.

Question 5

How is my yield paid out to me?

Accepted Answer

All deposits invested in money market funds will earn the same yield, with no minimum balance required. Yield is earned on a daily basis and distributed into your Brex Cash account on a monthly basis.

To see the latest rates, please see our Rates & Fees schedule.

Brex startup business account — high yield/APY.

Earn 3.97% interest, and make easy deposits and payments.

Deposit funds securely.

Store your cash in a business account with unlimited deposits, payments, and transfers.

Earn 3.97% yield/APY.*

Invest your funds to earn yield/interest while also maintaining access to your balance at any time.

Get live support, 24/7.

Reach our friendly team by phone and chat to ask questions or dispute a transaction.

Open multiple accounts for any business purpose

Easily track and report on cash flow.

Focus on building, not budgeting.

Move money faster and smarter.

Easily send payments.

Fast transfers—from anywhere.

Send unlimited ACH and wires.

Move money fast, whether paying vendors, running payroll, or sending payments overseas, with zero fees from Brex.*

Go global—we’ll help.

Banks impose heavy fees for sending money abroad. Not Brex. Send your money worldwide in a few taps with no Brex fees.*

Store your funds to earn 3.97% interest.

Easy deposits, no minimums.

Deposit checks, approve payments, access or lock cards, and more in our mobile app.

Stay secure.

Store deposits with our partner banks that offer FDIC insurance of up to $1,000,000 in total.

Enjoy high yield.

Choose to invest some or all of your account balance in money market funds at 3.97% interest/APY.*

Earn card rewards.

Get a credit card that helps build business credit and earns uncapped rewards.

Get personalized support.

Best-in-class customer service.

Reach our team by phone or chat. Mastercard’s global emergency services and concierge support are here for you 24/7 too.

The financial stack built for scale.

Help build business credit and unlock higher limits.

Get a card with best-in-class rewards and built-in expense tracking.

Track expenses the easy way.

Issue cards, set custom limits, auto-match receipts, and run spend reports.

Close your books twice as fast.

Brex integrates with QuickBooks, Xero, and other software seamlessly.

Earn the best rewards available.

Boost your bottom line with unlimited rewards on every card purchase.

Manage spend effortlessly.

Powerful spend management software for spend alerts, faster review, and more.

Pay your bills automatically.

Forward invoices, schedule payments, and keep your cash longer.

Brex is better than a bank.

Here's why.

Brex business account

Typical business bank account

FDIC coverage options

Brex business account

Typical business bank account

Easy online application

Brex business account

Typical business bank account

No minimum balance

Brex business account

Typical business bank account

No account fees*

Brex business account

Typical business bank account

No ACH and wires fees*

Brex business account

Typical business bank account

Unlimited users and cards

Brex business account

Typical business bank account

Helps build business credit

Brex business account

Typical business bank account

Best-in-class rewards

Brex business account

Typical business bank account

Live support

Brex business account

Typical business bank account

Easy dashboard and mobile app

Brex business account

Typical business bank account

Accounting integrations

Brex business account

Typical business bank account