Multiple Brex business accounts
Overview
If you’re approved for a Brex business account, you will have access to three different account types: checking, treasury, and vault. While you can only have one vault account and one treasury account on your Brex account, your checking account can be additionally subdivided into up to 240 distinct accounts to help manage your funds. Note that these sub-accounts act as virtual accounts with distinct account numbers, statements, and ledgered balances, but legally are sub-accountss of a single demand deposit account under the ownership of your company at our banking partner, Column N.A., and combined are eligible for up to $250,000 of FDIC insurance.
Account admins and any other users with the specific product capability can move funds instantly between checking accounts and transfer funds, subject to processing times, from their vault account to and from their checking accounts, or from their treasury account to and from checking accounts.
Limits
For Brex cards with daily payments, limits are based on the aggregate balance of your Brex business account across your primary checking, treasury, and vault accounts. As you spend against your limit, your available balance will be reduced accordingly in your primary checking account, then your treasury and vault accounts. Payments will be automatically pulled daily from your primary checking account balance first, with any necessary overdraft subsequently pulled from your treasury and vault accounts, in that order.
Adding another checking account
In your dashboard
To create an additional checking account, follow the steps below. Step 1: In your Brex dashboard, navigate to Accounts > Open account > Add checking account. Step 2: Review the account features. Step 3: Create a name for the account to help you differentiate it from other checking accounts (i.e. “Operating Account”). Click Next. Step 4: Review the Terms & Conditions and if you agree, click Finish. Step 5: On the Business account page under the Accounts tab, you’ll now see the new account in the Business accounts section.
In your app
Users can create, move money between, and manage many aspects of multiple accounts in the Brex mobile app. Step 1: Sign in to the Brex app and tap the Accounts at the bottom of the home screen. Step 2: Click Add checking account below your existing accounts. Step 3: Follow instructions to approve terms and conditions, and create an account nickname. Step 4: Transfer funds from an existing checking account to fund your new account and start using it.
Customizing Brex business accounts
While you cannot change the name of your primary checking account, you can update the names of additional sub-checking accounts under Accounts in your dashboard. Click the account you want to update and go to Manage settings > Settings > Account name to enter a new name.
Account admin permissions
Account admins approved for a Brex business account can have up to 240 separate checking accounts under one EIN, all with the same permissions. Permissions can be adjusted for all accounts from the Team tab of your Brex dashboard under Users.
Transferring funds between your accounts
Move money easily between your accounts by following the steps below.
In the dashboard
Step 1: Go to Accounts > Transfer. Step 2: Choose the account you want to transfer the funds from, the account you want to transfer the funds to, and click Next. Note: You can transfer funds between your checking account and vault or treasury account as often as you like, with no cap on the amount of funds you can move. However, you cannot move funds between your vault and treasury account. Step 3: Enter the amount that you want to transfer and click Next. Step 4: Review the transfer details and click Transfer funds.
In the app
Step 1: Sign in to the Brex app and tap Accounts at the bottom of the home screen. Step 2: On the Brex business accounts page, tap Transfer near the top. Step 3: Select which account you want money to be transferred from, and what account you’d like the money transferred to. Note that it is not possible to transfer funds between your treasury and vault account. Step 4: Select Transfer amount. Step 5: Confirm your transfer to immediately transfer the funds between accounts.