Is Brex safe from a bank run?

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. While a Brex business account operates similarly to a bank account, customer funds are not stored at Brex. Brex allows you to choose how your money is stored. You can keep your deposits across Brex partner banks, and if you do, you are eligible for $6M in total FDIC insurance. You can also invest your deposits in a government money market mutual fund, or any combination of the two.

So, because Brex does not hold customers' cash on our balance sheet (except for money in transit), and customers can choose how they store their money across either our partner banks or in a government money market fund, customers are protected from any singular bank exposure, and exposure from Brex itself.