The news surrounding Silicon Valley Bank (SVB) has created uncertainty for many companies. The situation is rapidly evolving, and we want to ensure we can support you in this challenging moment. We will continue to provide updates as we learn more about the SVB situation.
Brex Cash accounts are a cash management account (and not a traditional bank account) designed to offer the features customers use banks for, such as money movement and storage, but with a unique structure that limits customer exposure to any individual bank.
Yes. 100% of funds in Brex business accounts are always available for withdrawal, and deposits into Brex bank accounts are never used for lending purposes. This is because a Brex business account is not a bank account.
In addition to the requirements listed on our website, we analyze a company’s business model, source of funds, spending patterns, and other areas that may pose a higher risk to Brex and our partners. Meeting the requirements below does not guarantee you will be approved for a Brex account.
Your money market fund (MMF) investments are segregated and securely held by Bank of New York Mellon. These funds are invested in the Dreyfus Government Cash Management fund (DGVXX). They are held as shares by you, the customer, through our Brex business account and managed by Brex Treasury through the…
Admins of existing Brex card accounts can apply for Brex Cash right from the dashboard by following the steps below. Step 1: Select Cash in your Brex dashboard. Step 2: Click Apply now to begin the application. Step 3: Complete the application and our identity verification by uploading a government-issued photo ID.
Thanks for your continued interest in Brex! We have a few options for reapplying, depending on the circumstances of your previous application. Please refer to the relevant section below. You previously didn’t qualify for Brex If you didn’t qualify for a Brex account when you first applied, we may be…
Let’s get your account funded! Here are a few easy ways to increase your Brex Cash account balance and credit limit. Transfer funds from an external bank account This is typically the fastest way to add funds to Brex Cash.
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 use your Brex Cash account to securely deposit checks (including via mobile app); send and receive payments via ACH,…