Question 1

How do I open a Brex business banking account?

Accepted Answer

Each Brex Business Account comes with three sub-accounts:

Checking: Provided by Column N.A.,and enables management of deposits, reimbursements, payroll, and global payments from the Brex platform. Includes unlimited, free same-day ACH, checks send, and domestic wires. Up to 240 uniquely numbered checking accounts can be created under a single BBA for streamlined organization. Deposits are FDIC-insured up to $250,000.

Treasury: Treasury funds are invested in the Dreyfus Government Cash Management Fund (DGVXX), provided by Brex Treasury LLC, a FINRA- and SEC-registered broker-dealer, member SIPC. More information on the fund is available here and the current yield here.

Vault: Offered by Brex Treasury LLC, funds in Vault are allocated across 24 program banks, enabling up to $6 million in total FDIC-insured coverage.

Question 2

How is Brex different from a traditional business 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 to earn yield.

Question 3

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 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 do I need to open a business banking 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

Is Brex the best business checking account for startups?

Accepted Answer

Brex gives businesses access to checking, treasury, and vault in one solution. Funds invested in Treasury can earn yield with no minimum deposit, unlike some providers that require minimum balances to access yield. The Brex business account also includes automated bill pay and connects with Brex’s broader financial stack, including 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 treasury account help my business earn yield?

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

What makes Brex one of the best business banking options for growing companies?

Accepted Answer

Comparing Brex to other competitors, it’s clear that Brex offers the best, most supportive banking solution for startups. 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 runway by earning yield without first meeting high balance thresholds, unlike some business banking and treasury providers that require minimum deposits or minimum balances to access yield.

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.

Question 14

Does Brex offer a business treasury account?

Accepted Answer

Every Brex business banking account includes access to a treasury account powered by a U.S. government money market fund. You can earn up to 3.64% yield with same-hour liquidity and no minimum deposit, so your cash keeps working even when you're not actively managing it.

Question 15

How does Brex compare to a traditional business checking account?

Accepted Answer

Traditional business checking accounts hold your cash without putting it to work. Brex combines checking with a built-in treasury account and up to $6M in FDIC coverage through Vault, so you get the utility of a business checking account plus the returns typically reserved for separately managed treasury solutions.

Business banking that works as hard as you do.

• Up to.css-1kpnelu{background-color:#E6EDF5;color:#00326D;padding:2px 8px;border-radius:calc(infinity * 1px);}3.70%†Treasury yield• Free same-day ACH payments• Up to $6M in FDIC coverage• Automated AP with integrated bill pay

Business banking that works as hard as you do.

• Up to.css-1kpnelu{background-color:#E6EDF5;color:#00326D;padding:2px 8px;border-radius:calc(infinity * 1px);}3.70%† Treasury yield• Free same-day ACH payments• Up to $6M in FDIC coverage• Automated AP with integrated bill pay

The business banking account built to optimize every dollar.

Earn up to .css-1kpnelu{background-color:#E6EDF5;color:#00326D;padding:2px 8px;border-radius:calc(infinity * 1px);}3.70%† with same-hour liquidity, no hidden fees, and no minimums.

This is banking made powerful.

Get one business banking account with checking, treasury, and FDIC coverage built in.

TREASURY

A business banking account that earns.

TREASURY

The smarter way to earn yield.

CHECKING

The business checking account to pay and get paid faster.

CHECKING

The business checking account to pay and get paid faster.

VAULT

Greater FDIC coverage than a standard business bank account.

VAULT

Greater FDIC coverage than a standard business bank account.

VAULT

Greater FDIC coverage than a standard business bank account.

Business banking designed for speed, at scale.

Earn returns from day one.

Automate banking busywork.

Operate globally with ease.

Earn returns from day one.

Automate banking busywork.

Operate globally with ease.

Grow the cash in your business banking account.

Total balance

$20M+

$5M-$20M

$2M-$5M

$500K-$2M

$0-$500K

Total treasury return

3.70%†

3.55%

3.50%

3.40%

3.35%

$20M+

$5M-$20M

$2M-$5M

$500K-$2M

$0-$500K

3.70%†

3.55%

3.50%

3.40%

3.35%

Open a business banking account in minutes.

Open an account today and start banking easier and growing your cash faster.

Open a business banking account in minutes.

Open an account today and start banking easier and growing your cash faster.

FAQ

How is Brex different from a traditional business bank account?

Where is my cash actually stored?

Are my deposits FDIC-insured?

What do I need to open a business banking 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?

Is Brex the best business checking account for startups?

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

How does Brex's treasury account help my business earn yield?

What makes Brex one of the best business banking options for growing companies?

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

Does Brex offer invoicing?

Does Brex offer a business treasury account?

How does Brex compare to a traditional business checking account?

Insights on banking for startups.

Take a closer look at money market funds

Business banking reimagined

Answering common questions about the Brex business account

Scale AI closes the books 5 days faster with Brex.

Cash flow forecasting without a finance degree

• Up to3.70%†Treasury yield
• Free same-day ACH payments
• Up to $6M in FDIC coverage
• Automated AP with integrated bill pay

• Up to3.70%† Treasury yield
• Free same-day ACH payments
• Up to $6M in FDIC coverage
• Automated AP with integrated bill pay

Earn up to 3.70%† with same-hour liquidity, no hidden fees, and no minimums.