Question 1

How is the Brex business account different from a 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 for high-yield.

Question 2

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 3

Is Brex a bank?

Accepted Answer

Brex is a financial technology company, not a bank. Checking accounts and banking services provided by Column National Association, Member FDIC. Treasury and Vault services are offered by Brex Treasury LLC, Member FINRA and SIPC. Brex Treasury is not a bank nor an investment adviser.

Question 4

Are my deposits FDIC-insured?

Accepted Answer

All Brex customer funds are stored into either FDIC-insured accounts or money market funds.

For funds in Checking, our partner Column NA, Member FDIC, provides up to $250,000 in FDIC insurance.

For funds in Vault, at the end of every day Brex works with a sweep network to distribute funds across a list of program banks (listed here) to provide additional 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 the FDIC.

For funds in Treasury, throughout the day Brex places trades to sweep the funds into a 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.

Question 5

What is required to open a business bank account?

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 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 use. There are no transaction fees, treasury fees, account minimums, overdraft fees, monthly fees, or account opening fees. Check out our pricing page for a full breakdown.

Best business bank account for startups

Banking that takes every dollar further.

Modern business checking account, treasury, and vault in one place — with 4.90% yield, no fees, and no minimums.

Banking that takes every dollar further.

Modern business checking account, treasury, and vault in one place — with 4.90% yield, no fees, and no minimums.

Safeguard cash and extend your runway.

Move money worldwide — effortlessly.

“Brex is mission critical for me as a founder. I know where our money is at all times and now I can focus my energy on customers and building great products.”

— Lydia Han, CEO & Co-Founder, ModernLoop

Unlock a financial control center built to last.

All-in-one command center.

Customizable permissions.

1,000s of integrations.

Enterprise-grade account security.

Get more than an account — tap into our community.

We’re a startup too, so we know what it takes to be recognized. Let’s get you connected.

We’ll save you a seat.

“Brex simplifies our financial stack. We no longer have to get many different tools and stitch them together.”

— Richard Mensah, Founder & CEO, Salley

The #1 financial stack for startups.

Cards

Reimbursements

Bill pay

Travel

Treasury

Expense management

Business accounts

Insights on banking for startups.

Building a global financial strategy

Answering common questions about the Brex business account

How Brex business accounts work

Scale AI scales faster with Brex Empower

Dude Wipes drives growth, saves 40 hours a week with Brex

FAQ

Sign up in 10 minutes.

Sign up in 10 minutes.