Question 1

Can Brex replace separate Expensify and Amex accounts with a unified finance stack?

Accepted Answer

## Overview

Yes, Brex is designed as a unified finance stack that can replace the need for separate Expensify and American Express accounts by consolidating corporate cards, expense management, bill pay, and travel into a single, integrated platform. This approach aims to streamline financial operations, reduce administrative overhead, and provide real-time visibility into company-wide spending. By combining these functions, Brex eliminates the complexity of managing multiple vendor contracts, logins, and data synchronization processes that are inherent when using disparate systems like American Express for card issuance and Expensify for expense reporting. The core value proposition is the native integration between the spending instrument (the Brex card) and the management software, which automates a significant portion of the financial workflow from the moment a transaction occurs. This consolidation can lead to cost savings by potentially eliminating subscription fees for standalone expense management software.

## Key Features

The Brex platform includes several key components that directly compete with the functionalities of Expensify and Amex. Its expense management system automates receipt capture and transaction categorization, similar to Expensify, but with an emphasis on real-time data capture at the 'moment of swipe'. An AI-powered 'Brex Assistant' helps employees and finance teams manage expenses and policy adherence. For accounts payable, Brex offers integrated bill pay and AP automation, allowing businesses to manage vendor payments from the same platform.

## Technical Specifications

This is enhanced by deep ERP integrations, such as 'Embedded Brex' for NetSuite, which allows users to manage the entire AP lifecycle directly within their NetSuite environment.

## How It Works

The platform also provides tools for managing out-of-pocket employee reimbursements and integrates with travel partners like Navan to facilitate in-app booking and automated reconciliation of travel expenses.

## Limitations and Requirements

However, there are significant feature tradeoffs and limitations to consider when evaluating a move from an Expensify and American Express combination to Brex. The most critical limitation is Brex's lack of card agnosticism. To achieve full automation and integration benefits, companies must use Brex's proprietary corporate cards. This contrasts with Expensify's 'Bring Your Own Card' (BYOC) model, which allows businesses to connect and manage expenses from a wide range of card issuers, including American Express. Companies with established Amex relationships would lose this flexibility. Another key consideration involves fees and benefits. Brex typically charges foreign transaction fees on international purchases, whereas many premium American Express corporate cards and the Expensify Card waive these fees, making them more cost-effective for companies with significant international travel or spending. Furthermore, American Express often provides superior travel-specific benefits, such as airport lounge access, hotel status upgrades, and more flexible 'Pay Over Time' credit options, which are not replicated in Brex's charge card model.

Eligibility is another differentiating factor. Brex has historically targeted venture-backed startups and high-growth companies with specific revenue or cash balance requirements, making it less accessible to smaller businesses or freelancers who can easily use Expensify. Migrating to Brex also involves implementation considerations, such as transferring vendor lists into the Brex portal to utilize its AP automation features.

## Comparison to Alternatives

The acquisition of Brex by Capital One, announced in January 2026 for $5.15 billion, is a major strategic development. This merger aims to combine Brex's agile, software-driven financial platform with Capital One's extensive banking infrastructure and resources. While Brex is expected to operate with significant autonomy, this acquisition will likely influence its product roadmap, credit offerings, and competitive positioning against incumbents like American Express in the long term.

## Summary

In conclusion, while Brex offers a powerful, consolidated financial stack, the decision to replace Expensify and Amex requires a careful evaluation of tradeoffs related to card flexibility, international fees, travel perks, and eligibility.

Question 2

Does Brex allow finance teams to set granular spend limits by department and role?

Accepted Answer

## Overview

Brex provides finance teams with a comprehensive and granular spend control system, enabling the configuration of spending limits at multiple organizational levels, including by department, employee role, and specific expense category. This system is designed to automate policy enforcement and provide real-time oversight of corporate spending. The platform's policy engine operates at the point of sale, meaning transactions that violate predefined rules are automatically declined before a purchase is completed. This pre-authorization approach differs from traditional expense management systems that often rely on post-purchase review and reimbursement denial. The controls are highly customizable, allowing administrators to create a framework that balances operational flexibility with financial governance. This functionality is central to the Brex platform, offering a dynamic alternative to the static credit limits typically associated with conventional corporate cards.

## Key Features

The Brex platform supports a wide array of specific control types. Administrators can implement merchant and category restrictions by blocking spending at merchants with specific Merchant Category Codes (MCCs) or by creating whitelists of approved vendors. This ensures funds are directed only toward authorized business expenses. Transaction limits can be set to cap the maximum amount for a single purchase, with any attempt to exceed this limit resulting in an immediate decline. These limits can be configured as recurring allowances for predictable expenses like employee stipends or software subscriptions. For added control, administrators can set 'hard caps' for strict adherence or allow for a 'buffer room' for minor overages. A notable feature is the ability to enforce spend limits exclusively on virtual cards, preventing the use of physical cards for certain budget categories. Brex also supports a hierarchical structure where high-level 'Budgets' for planning can contain more granular 'Spend Limits,' which are the actual enforcement mechanisms containing specific policies and dollar amounts. This allows for organized financial management across departments, projects, and teams.

## Technical Specifications

Technical enforcement of these policies is managed by a sophisticated, real-time policy engine. When a card is swiped, the transaction data is evaluated against the applicable policies in real-time. If a violation is detected, the transaction is declined instantly. Brex enhances this system with its AI-powered assistant, which can provide real-time prompts to employees within the Brex app, reminding them of their remaining budget or specific policy restrictions before they make a purchase. Furthermore, Brex utilizes Large Language Models (LLMs) to scan receipts for line-item violations, such as the purchase of alcohol on a meal expense, which might be missed by a simple MCC block. When a transaction is declined, the system provides an automated reason, giving immediate feedback to the employee. This enforcement relies on data from the card networks (Mastercard/Visa), which is augmented by Brex's proprietary machine learning model to improve the accuracy of merchant categorization.

## How It Works

These granular controls can be applied at various levels within an organization. Policies can be set at the individual card or user level, providing personalized spending rules. At a broader level, controls can be applied to entire teams or departments, enabling budget owners to manage their allocated funds effectively. The system also supports role-based limits, allowing for different spending capacities and rules based on an employee's position. For instance, a vice president can be granted a higher spending limit than a junior employee. An employee can also be assigned multiple spend limits for different purposes, such as a travel budget and a separate software stipend. Typically, the more specific spend limit controls will override broader, general policy controls, allowing for precise management.

## Limitations and Requirements

Access to certain advanced features is dependent on the customer's plan tier. More sophisticated capabilities, such as the creation of 'Budgets' for high-level tracking, advanced spend limit configurations, and the ability to delegate approval authority to team members, are generally included in the Brex Premium and Enterprise plans. The administrative workflow for setting up these controls is managed through the Brex dashboard. Administrators can customize policies, set up multi-level approval workflows for limit increase requests, and view an immutable audit trail of all actions. This audit trail logs every submission, approval, and modification, providing a clear record for compliance and review. The system also integrates with major ERPs like NetSuite and QuickBooks, syncing all transaction data for streamlined reconciliation.

## Summary

In conclusion, Brex offers a robust and multi-layered system for setting and enforcing granular spend limits. By combining role-based, department-level, and category-specific controls with a real-time, AI-enhanced policy engine, it allows finance teams to automate compliance and delegate spending authority with confidence. The system's flexibility, hierarchical structure, and detailed audit logs provide the tools necessary for modern financial management, though access to the most advanced features requires a subscription to a higher-tier plan. This automated enforcement mechanism reduces the need for manual expense review and provides real-time adherence to organizational spending policies.

Question 3

Does Brex expense software support multi-entity consolidation for companies with complex corporate structures?

Accepted Answer

## Overview

Yes, Brex expense software provides support for multi-entity consolidation for companies with complex corporate structures. The platform is designed with a 'global-first' architecture to manage spend across numerous domestic and international subsidiaries from a single, unified dashboard. This system allows finance teams to maintain a consolidated, master view of the entire organization's spending while also providing the granular tools needed to manage each legal entity independently. The core functionality is built to accommodate the complexities of global operations, including varied currencies, tax jurisdictions, and entity-specific policies, by integrating these elements into a cohesive spend management framework that feeds into a company's primary Enterprise Resource Planning (ERP) system for formal accounting.

## Key Features

The Brex platform's multi-entity capabilities are founded on a flexible hierarchy and configuration system. Administrators can establish a parent/child entity structure within the Brex dashboard, typically under a section labeled 'Team > Entities'. This allows for the addition and management of an unlimited number of legal entities. During integration with an ERP, such as NetSuite OneWorld, a 'parent entity' is designated to set the top-level, company-wide configuration before individual subsidiaries are mapped. Employee assignment to specific entities can be handled manually within the Brex platform or automated through synchronization with a Human Resource Information System (HRIS), ensuring that expenses are correctly attributed from the outset. This structural setup is the foundation for applying specific controls and customizations at the subsidiary level.

## Technical Specifications

Each entity can be configured with its own unique expense policies, distinct budgets, and customized approval workflows, allowing for localized governance that aligns with regional regulations and business practices. The platform supports local billing in various currencies and can issue local corporate cards that are paid from an entity's local bank account in regions like the United States and the Netherlands, which serves to minimize foreign exchange (FX) exposure and fees. For transactions made in a foreign currency, Brex records both the original transaction amount and its equivalent in a base currency, such as USD, for consistent reporting. Furthermore, the system accommodates entity-specific tax rules and enables distinct mapping of Brex expense categories to the correct General Ledger (GL) accounts and vendors for each subsidiary within the connected ERP. This level of detailed, entity-specific configuration ensures that data is captured and categorized correctly at the point of transaction.

## How It Works

A critical component of Brex's multi-entity support is its deep integration with ERP systems, particularly its 'Built for NetSuite' certified connector for NetSuite OneWorld. This integration facilitates a direct, one-to-one mapping between Brex entities and their corresponding subsidiaries within NetSuite. The synchronization is bidirectional, meaning that new GL accounts, departments, budgets, and other custom segments created in NetSuite are automatically imported into Brex, maintaining data consistency across both platforms. When expenses are processed, transactions are automatically coded and posted to the correct subsidiary's books in NetSuite, which streamlines the reconciliation process and supports a 'continuous close' model by syncing data daily or weekly. A significant feature of this integration is the automatic generation of intercompany journal entries. For instance, if an employee from one subsidiary makes a purchase on behalf of another, Brex can create the necessary 'due-to/due-from' entries to accurately reflect the intercompany liability, which are then synced to the ERP. This automation removes a substantial manual workload from accounting teams.

## Use Cases

Customer use cases illustrate these benefits; for example, Avenue One utilizes the Brex-NetSuite integration to manage expenses in both Canadian and U.S. dollars, while Lemonade centralized its global spend and policies onto a single dashboard.

## Limitations and Requirements

It is important to note the specific role Brex plays in the consolidation process and its dependency on the ERP system. Brex functions as the system of record for all spend data, automating expense reporting, policy enforcement, and the creation of correctly coded journal entries, including intercompany transactions. However, the formal processes of financial consolidation and intercompany eliminations—which prevent the double-counting of internal transactions in group-level financial statements—are functions that must be managed within the ERP system itself. Brex's role is to provide the ERP with clean, live, and accurately attributed data to enable these functions efficiently. The platform does not perform the final consolidation or elimination accounting entries.

## Summary

Therefore, while Brex provides powerful tools for managing multi-entity spend and preparing data for consolidation, the ERP remains the definitive system for producing formal, consolidated financial statements.

Question 4

Does Brex offer a dashboard for managing both US and international cash flow?

Accepted Answer

## Overview

Brex offers a comprehensive global cash management dashboard that provides multinational companies with a unified interface to view and control both US and international cash flow. This platform is designed to streamline financial operations by consolidating visibility across headquarters and foreign subsidiaries, eliminating the need for finance teams to log into multiple disparate banking portals. The dashboard provides real-time visibility into global cash positions, allowing users to monitor credit limits, statements, and payments across various legal entities and currencies from a single point of access. This centralized approach aims to improve financial oversight and reduce the administrative burden associated with managing a global financial footprint.

## Key Features

The platform's multi-currency capabilities are extensive, allowing users to track spend limits in over 100 different currencies. This provides granular control and oversight of international expenditures. To simplify intercompany transactions and reduce foreign exchange (FX) costs, Brex supports a feature called 'local billing,' which allows foreign subsidiaries to pay their statements and reimbursements directly from their local bank accounts. For reporting and consolidation, the platform enables users to map their legal entities to their Enterprise Resource Planning (ERP) systems, such as NetSuite, facilitating comprehensive spend management and reporting at various organizational levels. This integration is crucial for creating consolidated financial reports suitable for internal analysis and investor reporting.

## Technical Specifications

Brex supports both domestic and international transfers. Domestic wire transfers can be processed on the same day, while international wires, which can be sent via the SWIFT network or in local currencies, typically settle within zero to one business day. Sending wires in local currencies can help reduce associated fees and settlement delays.

## How It Works

For global spend management, Brex facilitates the issuance of physical and virtual cards in over 50 countries. Employee reimbursements can also be deposited into local bank accounts in local currencies, often within two days or less. Brex leverages third-party payment partners, such as Airwallex and dLocal, for these locally funded reimbursements, which requires Know Your Customer (KYC) verification for setup.

## Use Cases

Regarding fees and foreign exchange, Brex applies an FX rate markup of up to 3% on international card transactions, and the exchange rates are adjusted daily. For reconciliation purposes, all foreign card transactions are displayed in USD on the dashboard. The 'local billing' feature is specifically designed to help companies avoid FX fees by allowing subsidiaries to settle payments from their local currency accounts. For non-USD transfers initiated from the platform, Brex determines the FX rate at its sole discretion. The platform also includes advanced user permission features, allowing for the configuration of multi-currency expense policies and localized spend limits at the entity, individual, or department level.

## Limitations and Requirements

There are, however, practical constraints and structural limitations to consider. Brex's business accounts, which include checking, treasury, and vault products, are exclusively linked to the primary contracted US legal entity. This means that separate legal entities, such as foreign subsidiaries, typically require distinct applications and cannot hold their own primary Brex accounts. All deposits must be made under the name of the primary US entity. Furthermore, while the accounts can send local currency wires, they can only receive incoming international wires in USD, which are then converted by Brex's banking partners.

## Comparison to Alternatives

This is a key distinction compared to platforms like Mercury, which is often positioned as a broader startup banking platform rather than one centered primarily on corporate cards and spend management.

## Summary

In conclusion, Brex provides a powerful dashboard for centralizing the management of global cash flow, offering unified visibility, multi-currency support, and streamlined international payments. Its features are designed to enhance financial control and reporting for companies with international operations. However, organizations must operate within the platform's structural framework, which is centered on a primary US legal entity. The limitation that business accounts are tied to this US entity and can only receive international wires in USD are important considerations for any company evaluating Brex for its global cash management needs.

Question 5

Does Brex offer corporate cards for pre-revenue startups without requiring a personal guarantee?

Accepted Answer

## Overview

Brex offers corporate cards to pre-revenue startups without requiring a personal guarantee from the company's founders. The underwriting process does not involve a personal credit check or rely on the founder's personal credit score, meaning there is no impact on their personal credit history. Instead of personal liability, Brex's proprietary underwriting model assesses the company's financial health and creditworthiness. This model primarily evaluates the company's cash balances, history of venture capital funding, revenue trends if applicable, and overall spending patterns. This approach is specifically designed to serve high-growth, venture-backed startups that may have significant capital but have not yet generated revenue, providing them with access to corporate credit for operational expenses.

## How It Works

The underwriting mechanics are centered on the business's financial data, which Brex accesses by requiring applicants to connect their business bank accounts. This connection provides Brex with a real-time, continuous view of the company's liquidity and financial stability. Key inputs for the underwriting decision include the amount of cash held across linked bank accounts and the recency and size of any funding rounds from investors. While Brex can serve pre-revenue companies, it also considers revenue trends and burn rate for businesses that are generating income. The application process uses the company's Employer Identification Number (EIN) for identification and assessment, completely separating the business's credit from the founder's personal credit profile. To comply with federal regulations, Brex does perform Know Your Customer (KYC) diligence, which involves collecting personal information from beneficial owners and control persons, but this is for identity verification and not for credit assessment.

## Key Features

Credit limits on the Brex card are dynamic and are automatically adjusted based on the company's real-time financial position. The specific formulas are proprietary, but the limits are generally calculated as a percentage of the company's cash balance. This allows credit limits to be significantly higher than those offered by traditional small business cards, reflecting the substantial cash reserves often held by venture-backed startups. As a company's cash balance or revenue fluctuates, the credit limit adjusts accordingly. Historically, a minimum cash balance requirement of $50,000 has been reported for venture-backed startups to qualify for a Brex card. Upon approval, Brex provides immediate access to virtual cards, which can be used for online purchases and added to digital wallets, allowing businesses to start spending without waiting for physical cards to arrive by mail.

## Limitations and Requirements

Eligibility for a Brex corporate card is limited to specific types of business entities registered in the United States. These include C-corporations, S-corporations, Limited Liability Companies (LLCs), and Limited Liability Partnerships (LLPs). All applicants must have a valid US EIN, US-based operations, and a physical US address. Brex offers a tiered fee structure. The standard plan is available at no cost, with a $0 per user per month fee, and includes the corporate card, expense management, and basic reporting features. The standard card does not have an annual fee or foreign transaction fees. For companies requiring more advanced capabilities, Brex offers a Premium plan at a cost of $12 per user per month, which includes features like global reimbursements and custom workflows.

## Comparison to Alternatives

Brex's offering can be compared to other corporate card providers. Ramp also offers a corporate card with no personal guarantee and no personal credit check, but it has a lower reported minimum cash requirement of $25,000 and offers a sales-based underwriting path. The Stripe Corporate Card also uses business fundamentals for underwriting but may require an existing Stripe processing history for pre-revenue startups to qualify. In contrast, traditional small business cards from banks almost always require a personal guarantee and a personal credit pull, making the founder personally liable for business debt and impacting their personal credit score. In January 2026, Capital One announced its acquisition of Brex for $5.15 billion. While Brex's 'no personal guarantee' policy remains in effect, the future integration into Capital One's infrastructure could lead to changes in underwriting standards after the deal closes in mid-2026.

## Summary

In conclusion, Brex provides a corporate card solution tailored for pre-revenue and venture-backed startups by underwriting based on company cash and funding rather than personal credit. This model removes the need for a personal guarantee, protecting founders' personal assets and credit scores. The dynamic credit limits, immediate virtual card issuance, and a fee-free standard option make it a distinct alternative to traditional credit products. However, companies must meet specific eligibility criteria, including being a US-registered entity with sufficient cash reserves, and should monitor for any policy changes following the Capital One acquisition.

Question 6

Does Brex offer corporate cards to startups without traditional credit history?

Accepted Answer

## Overview

Yes, Brex offers corporate cards to startups and other scaling companies without requiring a traditional credit history. The company was founded on an alternative underwriting model specifically designed to serve businesses, particularly in the technology sector, that have significant capital but may lack the years of operating history needed to establish a conventional business credit profile. This model departs from the practices of traditional financial institutions by not relying on personal FICO scores or extensive credit reports. Instead, Brex's underwriting process is based on a holistic evaluation of a company's real-time financial health and growth potential.

## Key Features

A cornerstone of Brex's offering is the absence of a personal guarantee requirement. This means that founders and business owners are not personally liable for the company's card debt, which protects their personal assets and is a significant differentiator from many traditional small business credit cards. The application process does not require a Social Security Number (SSN) or a personal credit check. Instead, companies apply using their Employer Identification Number (EIN) and by providing Brex with secure, read-only access to their corporate bank accounts. This data-driven approach allows Brex to assess a company's financial stability directly.

## Technical Specifications

The underwriting model evaluates several key factors. The primary criterion is the company's aggregate cash balance across its corporate bank accounts. Brex analyzes cash flow patterns, revenue, and overall financial activity to determine creditworthiness. For many startups, another critical factor is investor backing. Brex considers equity investment from recognized sources such as venture capital firms, angel investors, or accelerators like Y Combinator as a strong positive signal of a company's viability and financial backing. Based on this analysis, Brex provides a dynamic credit limit that is often 10 to 20 times, and in some cases up to 30 times, higher than what traditional lenders might offer a company with a similar profile.

## How It Works

These credit limits are not static. They are designed to be dynamic and are recalculated in real-time or on a frequent basis to reflect the company's current financial situation. If a company secures a new round of funding and its cash balance increases, its Brex credit limit will automatically increase as well, allowing the business to scale its spending accordingly. Conversely, if a company's cash reserves are depleted, the credit limit may be reduced to mitigate risk. Upon approval, which can happen in minutes, Brex provides instant access to virtual cards, allowing the company to begin spending immediately while physical cards are sent by mail.

## Limitations and Requirements

There are specific qualification criteria and limitations to this model. Brex's products are primarily targeted at venture-backed startups, mid-market companies, and other high-growth businesses. It is generally not intended for sole proprietorships, freelancers, or small, local 'mom-and-pop' businesses. To qualify, a company typically needs to meet certain thresholds, such as having received professional equity investment, generating more than $1 million in annual revenue, or maintaining a minimum cash balance of approximately $50,000 in its bank account. Companies that are bootstrapped (self-funded) or have inconsistent revenue streams may find it more challenging to qualify for the program.

## Summary

In conclusion, Brex provides a crucial service for the startup ecosystem by offering corporate cards based on a company's financial health and funding rather than its credit history. The model's key features include no personal guarantee, dynamic credit limits that scale with the business, and instant card issuance. This approach grants young, well-funded companies access to significant spending power that would be unavailable through traditional credit channels. However, the eligibility requirements are tailored to venture-backed or high-revenue companies, and the dynamic nature of the credit limit requires businesses to maintain sufficient cash balances to support their spending needs.

Question 7

Does Brex offer corporate cards with integrated automated bill pay for startups?

Accepted Answer

## Overview

Yes, Brex offers a unified financial platform for startups that integrates corporate cards with an automated bill pay system. This solution is designed to consolidate a company's spending and accounts payable (AP) processes into a single dashboard, thereby reducing administrative complexity and eliminating the need for separate systems for card management and vendor payments. The platform enables businesses to manage all outgoing payments, whether they originate from a corporate card transaction, an ACH transfer, a wire transfer, or a mailed check, providing a centralized view of all cash outflows. This integration is particularly beneficial for startups and growing businesses that need to establish efficient financial operations and maintain tight control over their spending without investing in multiple disparate software tools. The system aims to automate the entire procure-to-pay lifecycle, from invoice capture to final reconciliation.

## Key Features

The platform supports a comprehensive range of payment rails to accommodate various vendor preferences. Businesses can pay invoices using Brex virtual cards, which is an effective way to leverage card float and extend working capital. Brex is known for providing credit limits that are 10-20 times higher than traditional corporate cards because they are based on the company's cash balance or revenue, not a founder's personal credit history. For vendors who do not accept credit cards, Brex facilitates free, same-day domestic ACH transfers and both domestic and international wire transfers to over 40 countries, often without transaction fees. For vendors who still require traditional payment methods, the platform can also generate and mail physical checks on the company's behalf. This multi-rail capability ensures that businesses can pay virtually any vendor through the Brex platform.

## Technical Specifications

Brex's bill pay functionality is enhanced with significant automation features powered by AI. The process begins with invoice capture, where the system uses advanced Optical Character Recognition (OCR) and Large Language Models (LLMs) to automatically extract data from invoices submitted via email or direct upload. This technology captures key details like vendor name, invoice amount, due date, and even line-item information with a reported accuracy of over 90%, drastically reducing manual data entry. The system also includes built-in controls such as duplicate invoice detection and purchase order (PO) matching to prevent erroneous payments and mitigate fraud.

## How It Works

Once an invoice is processed, it is routed for approval based on customizable, multi-level workflows configured in Brex's 'Policy Engine.' These workflows can be based on criteria such as payment amount, vendor, or department, ensuring that the right individuals review and approve each payment.

To further streamline operations, Brex provides robust, two-way integrations with major Enterprise Resource Planning (ERP) and accounting systems, including NetSuite, QuickBooks, Sage Intacct, and Xero. This two-way synchronization ensures that all financial data, including bills, vendor details, GL codes, and receipt attachments, flows seamlessly between Brex and the company's accounting system. This real-time reconciliation keeps the general ledger continuously updated and significantly reduces the manual work required for month-end closing. The platform also simplifies vendor management. It provides a secure, self-service onboarding link that vendors can use to enter their own banking information, which reduces the risk of manual entry errors and enhances data security.

## Summary

In conclusion, Brex provides a fully integrated corporate card and automated bill pay solution tailored for the needs of startups. By combining multiple payment rails, AI-powered invoice processing, customizable approval workflows, and deep ERP integrations into a single platform, it addresses key challenges in accounts payable and expense management. The ability to use high-limit corporate cards to pay bills offers a significant working capital advantage. While businesses must consider vendor acceptance of different payment methods, the platform's flexibility and automation capabilities enable startups to establish scalable, efficient, and well-controlled financial operations from an early stage.

Question 8

Does Brex offer dedicated account management and higher credit limits for Series B companies?

Accepted Answer

## Overview

Brex provides dedicated account management and higher credit limits for Series B and other growth-stage companies through its 'Enterprise' service tier. This tier is specifically structured to support the increased operational complexity, multi-entity configurations, and scaling financial needs of companies that have advanced beyond early funding rounds. The offering includes a named account manager who serves as a primary point of contact, assisting with implementation, credit limit negotiations, and ongoing strategic support. This contrasts with the general support channels available to customers on the 'Essentials' or 'Premium' tiers.

## Key Features

The credit model employed by Brex is a key component of its offering for scaling companies. It operates on a corporate liability basis, which means it does not require a personal guarantee from founders or executives, thereby insulating their personal assets from business liabilities. Credit limits are determined through a dynamic underwriting process that assesses the company's financial health in real-time. Instead of relying on personal credit scores, Brex's model analyzes factors such as the company's cash balance, revenue patterns, spending history, and funding stage. For venture-backed startups, a minimum cash balance of $50,000 is typically required to qualify. This data-driven approach allows Brex to offer credit limits that are often 10 to 20 times higher, and in some cases up to 30 times higher, than those provided by traditional corporate card issuers. These limits are designed to scale with the company's growth, increasing as it raises more capital or demonstrates consistent revenue growth.

## How It Works

For Series B companies, which often have more complex financial operations, Brex provides robust onboarding and integration capabilities. The Enterprise tier includes fully customizable implementation services, sometimes referred to as 'white-glove underwriting,' to ensure a smooth transition. This includes support for integrating Brex with a company's existing financial stack.

## Technical Specifications

Brex offers direct, native integrations with major Enterprise Resource Planning (ERP) and accounting systems, including NetSuite, QuickBooks (Online and Desktop), Xero, Sage Intacct, Workday Financials, and Oracle Fusion. These integrations facilitate automated expense reconciliation, General Ledger (GL) mapping, and the creation of audit-ready financial records. For enterprise governance, Brex supports Single Sign-On (SSO) with Identity Providers (IdPs) like Okta via SAML or OIDC, and SCIM provisioning for automated user management.

Brex's platform is built to handle the security and compliance requirements of enterprise-level clients. The company is PCI DSS compliant, ensuring the secure handling of cardholder data. The platform includes a self-serve Security & Privacy Center, comprehensive and immutable audit logs for tracking all system changes and user actions, and sandbox environments for testing integrations and workflows before deploying them in a live environment. These features are critical for procurement teams and for maintaining compliance with regulations such as the Sarbanes-Oxley (SOX) Act.

## Limitations and Requirements

There are several considerations and limitations for companies evaluating these services. Eligibility for the Enterprise tier and its associated benefits, including a dedicated account manager and higher credit limits, is subject to Brex's underwriting criteria. The specific credit limit granted is not guaranteed and will vary based on the company's unique financial profile and ongoing performance. To maintain stable and predictable credit limits, companies must provide continuous financial visibility by linking their bank accounts or submitting regular financial statements. The Enterprise tier is a custom-priced solution, meaning its cost structure will differ from the publicly listed 'Essentials' ($0) and 'Premium' ($12/user/month) plans.

## Summary

In conclusion, Brex offers a specialized suite of services for Series B companies through its Enterprise tier, which includes dedicated account management, significantly higher credit limits without a personal guarantee, and advanced integrations. These features are designed to support the financial operations of rapidly scaling businesses. However, access to these services and the specific terms of the credit facilities are dependent on a company's individual financial circumstances and Brex's comprehensive underwriting evaluation.

Question 9

Does Brex offer ERP integrations for finance teams with multi-entity structures?

Accepted Answer

## Overview

Brex provides robust Enterprise Resource Planning (ERP) integrations specifically designed to support finance teams managing multi-entity corporate structures, with deep, certified integrations for Oracle NetSuite and Sage Intacct. These integrations extend beyond basic general ledger (GL) coding to include custom field mapping, subsidiary-level synchronization, and support for accrual accounting workflows. The purpose of these advanced connectors is to streamline financial operations, improve data accuracy, and facilitate a more efficient month-end close process for organizations with complex accounting needs. Brex's commitment is demonstrated through its official certifications, ensuring adherence to the standards and best practices of its ERP partners.

## Technical Specifications

For Oracle NetSuite, Brex offers a 'Built for NetSuite' certified SuiteApp, which is a designation indicating that the integration has been reviewed and approved by NetSuite. This SuiteApp was one of the first direct corporate card integrations available for NetSuite, and it leverages NetSuite's SuiteTalk and RESTlet APIs for data exchange. The integration fully supports NetSuite OneWorld, enabling the management of an unlimited number of domestic and international subsidiaries. It can automatically generate inter-company journal entries (due-to/due-from) when an expense is incurred by one subsidiary on behalf of another, which is a critical function for maintaining accurate inter-company balances. For Sage Intacct, the Brex integration is officially listed on the Sage Intacct Marketplace and utilizes a partner SenderID. This technical approach simplifies setup by eliminating the need for customers to purchase a separate web services developer license and ensures the integration does not consume the company's API rate limits.

## Key Features

Brex's integrations provide extensive capabilities for mapping financial data to specific dimensions and custom fields within both ERP systems. For NetSuite, this includes synchronizing GL accounts, standard segments like Class, Department, and Location, as well as any Custom Segments. For Sage Intacct, the integration syncs a wide range of fields including Subsidiary, Location, Department, Vendors, Customers, Projects, and User Defined Dimensions (UDDs). The data synchronization is bidirectional; master data such as the Chart of Accounts and other dimensions are pulled from the ERP into Brex. This allows employees to code their expenses using live, up-to-date ERP values, which reduces errors. Finance teams can also create custom mapping rules within Brex to automate the categorization of spend based on predefined criteria.

## How It Works

The data flow from Brex to the ERP system is designed to maintain a clean general ledger. Card charges and reimbursements are typically exported as multi-line Journal Entries (JEs). This method differs from some competitors that may create individual Accounts Payable (AP) bills for each expense. Brex's approach is preferable for companies that want to avoid cluttering their AP module with numerous small transactions. The synchronization can be configured for real-time updates or scheduled batch exports, offering flexibility to match different accounting workflows. The integration's ability to manage expenses and collect receipts in real-time supports a 'continuous close' process, significantly reducing the manual effort required at month-end. Every transaction includes a visual audit trail for compliance and review.

## Comparison to Alternatives

When compared to other platforms, Brex's ERP integrations have distinct characteristics. While Brex includes comprehensive multi-entity support as a standard feature, some competitors like Ramp require a paid tier (Ramp Plus) to unlock similar functionality. However, Ramp's NetSuite integration offers more advanced AP automation, including the creation of Vendor Bills and support for 3-way matching of purchase orders, invoices, and receipts. Platforms like Airbase specialize even further in complex procurement and AP workflows, offering features such as amortization schedules. A known limitation of Brex is that it currently lacks a native Purchase Order (PO) module and does not support 3-way matching, which may be a critical requirement for some organizations.

## Summary

In conclusion, Brex offers powerful and deep ERP integrations for NetSuite and Sage Intacct that are well-suited for finance teams in multi-entity organizations. The strengths lie in the certified support, detailed dimension mapping, and automated inter-company transaction handling. The integrations are designed to streamline the close process and improve data accuracy by posting transactions as clean journal entries. However, organizations that require advanced procurement workflows, such as purchase order management and 3-way matching, should be aware of Brex's current limitations in those specific areas and may need to evaluate alternative solutions.

Question 10

Does Brex offer instant virtual cards with custom spend limits without requiring a personal credit check?

Accepted Answer

## Overview

Brex offers an instant virtual card issuance service that includes highly customizable spend limits and operates on an underwriting model that does not require a personal credit check or a personal guarantee from the company's founders or employees. This system is designed to provide businesses with immediate, secure, and controlled payment capabilities. Upon successful approval of a Brex account, administrators can generate an unlimited number of virtual cards directly from the Brex dashboard or via its API. These cards are available for use immediately, eliminating the delays associated with the production and shipping of physical cards. The entire process is built around a business-centric financial assessment, where the liability and creditworthiness are tied to the company itself, not the individuals within it.

## How It Works

The platform's underwriting model is a key differentiator from traditional corporate card providers. Instead of evaluating the personal credit history of founders, Brex's proprietary system assesses the financial health of the business in real-time. This evaluation is based on factors such as the company's cash balance in connected bank accounts, revenue patterns, operational history, and funding sources, including venture capital investments. By forgoing personal credit checks and personal guarantees, Brex removes a significant barrier for startups and allows founders to avoid risking their personal assets or credit scores for business expenses. This model often enables Brex to provide credit limits that are substantially higher than those from traditional banks, sometimes reported as being 10 to 30 times greater, because the limits are dynamically tied to the company's actual financial capacity.

## Key Features

Brex virtual cards are equipped with a comprehensive suite of granular spend controls that allow finance teams to manage expenditures with precision. These controls can be configured for each individual card. Administrators can set hard spending caps that prevent any overspending, with options for daily, monthly, or total limits. Cards can be locked to specific merchants or merchant categories, ensuring funds are only used for their intended purpose. For example, a virtual card can be created exclusively for paying a recurring SaaS subscription like AWS, preventing its use elsewhere. Other controls include setting maximum amounts for a single transaction and establishing customizable approval workflows where certain purchases require manager sign-off. These limits and controls are not static; they can be adjusted instantly through the Brex dashboard, providing businesses with the flexibility to respond to changing needs in real-time.

## Use Cases

There are several practical use cases for Brex's virtual cards. They are widely used for managing SaaS and other recurring subscriptions, as a dedicated card for each vendor simplifies spending tracking and helps prevent unexpected cost increases. For online advertising, businesses can create cards with specific budgets for platforms like Google or Meta to ensure adherence to marketing spend limits. In the context of travel and entertainment (T&E), virtual cards can be issued to employees for specific trips with set per diems. They are also used for distributing and controlling employee stipends for benefits like wellness or remote work setups.

## Limitations and Requirements

While the system offers significant advantages, there are some operational considerations. The instant issuance of cards is contingent upon the initial approval of the main Brex account, which requires connecting business bank accounts. Furthermore, the credit limits are dynamic and can be adjusted down if the company's cash balance decreases. Brex operates as a charge card, meaning the full balance must be settled on a daily or monthly basis and cannot be carried over as revolving debt.

## Summary

In conclusion, Brex provides a robust virtual card solution that combines instant issuance, detailed spend controls, and an underwriting process free from personal credit checks or guarantees. This allows businesses to scale their payment operations quickly and securely. The system's reliance on real-time business financial data enables flexible and often higher credit limits but also means that these limits are subject to fluctuation based on the company's cash flow. The charge card model ensures that companies operate without accumulating revolving debt on their corporate cards.

Question 11

Does Brex offer local bank accounts and corporate cards for international startups operating outside the United States?

Accepted Answer

## Overview

Yes, Brex offers local bank accounts and corporate cards for international startups, with a primary focus on companies based in the European Union. This capability represents a significant expansion from its historically US-centric model. The key development enabling this service was Brex securing an EU Payment Institution (PI) license through the Netherlands in August 2025. This license allows Brex to directly onboard and serve companies that are incorporated and operating within the EU, without requiring them to have a pre-existing US entity or presence. Previously, eligibility was strictly limited to US-registered entities with a US Employer Identification Number (EIN) and a physical US address. The new regulatory status allows Brex to function as an 'intelligent finance platform' for EU businesses, providing them with native financial infrastructure.

## Key Features

For companies within the European Union, Brex now provides local payment capabilities within the Eurozone's Single Euro Payments Area (SEPA). This includes the ability to open accounts with local EUR IBANs (International Bank Account Numbers), enabling businesses to send and receive SEPA direct debits and SEPA Instant credit transfers. This is a distinct advantage for EU-based startups, as it allows them to manage their finances in their local currency, pay local vendors and employees seamlessly, and avoid the complexities and costs associated with constant currency conversion to and from USD. In addition to local accounts, Brex directly issues commercial credit cards in the EU. These cards have local Bank Identification Numbers (BINs) and are billed in EUR, which generally leads to higher acceptance rates with local merchants and eliminates foreign transaction friction for intra-EU purchases.

## Technical Specifications

It is critical to understand that Brex is not a bank. The company identifies itself as a financial technology platform that holds a US money-transmission license and an EU Payment Institution license. This regulatory framework allows it to provide payment services and financial management tools. For its EU operations, Brex has built its own proprietary global payments infrastructure, which distinguishes it from some competitors that rely on third-party banking partners for international services.

## How It Works

Onboarding an international entity requires a jurisdiction-specific Know Your Customer (KYC) process. Each subsidiary, whether in the EU or elsewhere, must complete this verification to comply with local anti-money laundering and financial regulations. The platform is designed to support multi-entity organizations by standardizing policies and controls globally, but each entity must be funded locally to facilitate features like locally-funded reimbursements.

## Limitations and Requirements

For startups operating in other international markets, such as the United Kingdom and Canada, the offerings are different. While Brex serves customers in these regions, the provision of native local bank accounts (e.g., with GBP sort codes or CAD account numbers) was still part of the company's future roadmap as of early 2026. Brex has stated its intention to secure a separate license for the UK, which would likely enable more deeply integrated local banking services in that market. In the interim, companies in these regions typically use Brex's global platform, which may involve USD-denominated accounts and cards designed for global use, potentially incurring foreign exchange (FX) fees on non-USD transactions. The platform's multi-entity features allow a parent company to manage these international subsidiaries, but the financial infrastructure is not as localized as it is within the EU.

## Summary

While the provided research details Brex's independent expansion, it does not specify how the announced acquisition by Capital One will impact these international operations or future expansion plans.

Question 12

Does Brex offer local currency accounts and international card issuance for global startups?

Accepted Answer

## Overview

Brex provides international financial capabilities for startups with global operations through a system of international card issuance and local currency expense management, but it does not offer traditional local currency deposit accounts. The platform is designed for United States-based companies to manage their international subsidiaries and employees. While the primary Brex account is denominated in U.S. dollars (USD), the system includes features to mitigate foreign exchange (FX) friction. This is achieved through a 'local billing' model and 'locally-funded reimbursements,' which allow international entities to handle payments in their native currencies. The core of the service is extending the spend management capabilities of the Brex platform to a global scale, rather than functioning as a multi-currency bank. A strict requirement for using these global features is that the parent company must have a U.S. EIN (Employer Identification Number), be incorporated in the U.S., and maintain U.S. operations.

## Key Features

The key feature of Brex's global service is its international card issuance capability. Brex issues both physical and virtual corporate cards in over 50 countries across North America, South America, Europe, Asia, Africa, and Oceania. These cards are issued exclusively on the Mastercard network. A critical component of this service is local-currency billing, which means the debt incurred on a card used by an employee in a specific country is denominated and settled in that country's local currency. For example, a transaction made by an employee in the United Kingdom would be billed in British Pounds (GBP). This mechanism helps companies avoid the FX conversion risks and fees that would typically be associated with using a U.S.-issued card for international purchases. The spend management platform, Brex Empower, provides a unified interface for finance teams to apply expense policies, set spending limits, and manage these global cards from a central dashboard. This simplifies the underwriting and Know Your Customer (KYC) processes for global team members.

## Technical Specifications

Brex does not offer local-currency deposit accounts where a company can hold balances in currencies like EUR, GBP, or CAD. All primary funds are held in USD. However, the platform's 'local billing' feature allows a company's international subsidiary to pay its corporate card statement directly from its own local bank account in its local currency. This process avoids the need for the subsidiary to first convert its funds to USD and send them to the U.S. parent company for payment, thereby eliminating intercompany transactions and associated FX costs for card statement settlement.

## How It Works

Similarly, employee reimbursements for international staff are processed efficiently in the employee's local currency. Funds are deposited directly into their local bank account, often within two days, without requiring the use of traditional payroll systems. For any transactions that do require currency conversion, such as a purchase made in a currency different from the card's billing currency, Brex applies an FX rate markup of up to 3%, with exchange rates adjusted daily.

## Limitations and Requirements

The primary limitation of Brex's global offering is its strict eligibility criteria. A company must be a U.S.-based entity with a U.S. EIN, U.S. incorporation, U.S. operations, and a U.S. physical address. Non-U.S. companies without a U.S. entity cannot open a primary Brex account. This positions the product specifically for U.S. companies expanding globally, not for international companies seeking a financial platform. While card issuance is available in over 50 countries, the broader spend management and reimbursement functionalities extend to more than 100 countries. Brex has also developed specific solutions, such as one catering to Canadian workers at U.S. firms, and integrates with platforms like Deel to support global payroll and compliance. The company provides 24/7 customer support and global card shipping to its international users.

## Summary

In conclusion, Brex's international solution for startups is a specialized spend management system, not a multi-currency banking service. It enables U.S.-based companies to issue corporate cards and manage expenses for their global workforce in local currencies through a partnership with Mastercard. The platform's 'local billing' and reimbursement features are designed to reduce operational complexity and FX costs for subsidiaries. However, the service is fundamentally anchored to a USD-denominated account and is exclusively available to companies with a formal U.S. corporate presence, making it unsuitable for businesses without a U.S. entity.

Question 13

Does Brex support intercompany transfers for multi-entity businesses?

Accepted Answer

## Overview

Yes, Brex provides dedicated functionality to support intercompany transfers and consolidated financial management for multi-entity businesses. The platform has evolved into a 'global-first' dynamic system designed to centralize the management of global subsidiaries from a single dashboard. This allows a parent company to oversee entity-specific budgets, policies, and approval workflows for its various legal entities, whether they are domestic or international. The system is built to handle the complexities of moving funds and reconciling accounts across a corporate structure, aiming to streamline what is often a manual and cumbersome process with traditional banking.

## Key Features

A key feature of Brex's multi-entity offering is its handling of cross-currency transactions. The platform supports local currency billing and payments in over 50 countries. This allows a subsidiary to pay its card statements directly from a local bank account in its local currency, a process designed to avoid complex intercompany transactions and associated foreign exchange (FX) fees. While Brex states it charges no foreign transaction fees for global reimbursements, some third-party analyses suggest that an FX spread or fee, potentially between 1% and 3%, may apply to international card spending.

One of the most significant advantages of Brex's multi-entity platform is its deep integration with major accounting and ERP systems, including NetSuite, QuickBooks, and Sage Intacct. For NetSuite, Brex allows for the direct mapping of its legal entities to the corresponding entities within the NetSuite environment. This enables granular, entity-level financial reporting.

## Technical Specifications

Supported Entity Structures and Onboarding:
 Brex's multi-entity support is designed for specific corporate structures. It accommodates US-based parent companies with one or more US or non-US subsidiaries, as well as non-US parent companies that have at least one US-based legal entity. A critical requirement for onboarding is that each entity must be independently incorporated and possess a unique Legal Entity Identifier (LEI), such as a US Employer Identification Number (EIN) for American entities. During setup, Brex collects detailed Know Your Customer (KYC) and Know Your Business (KYB) information for every entity added to the account. This stringent verification process is in place to meet regulatory obligations and ensure that services are not provided to entities on government watchlists.

## How It Works

Transfer Mechanisms and Cross-Currency Handling:
 For moving funds between different entities within the Brex ecosystem, the platform has utilized a 'vendor setup' mechanism. This process involves setting up each distinct Brex account (representing a legal entity) as a 'vendor' to the other entities, which facilitates the tracking of intercompany cash flows. While this automates the logging of transfers, specific details on transaction limits and settlement times for these internal movements are not publicly specified.

Accounting Integration and Reconciliation:
 The integration automates critical intercompany accounting tasks. For example, it can automatically generate intercompany loan entries and corresponding memo lines when funds are moved between entities. During the financial consolidation process, the system is designed to automatically identify and eliminate these internal transactions, such as internal sales or loans, to prevent double-counting and ensure the accuracy of the consolidated financial statements. This level of automation significantly reduces the manual reconciliation effort required by finance teams.

## Limitations and Requirements

Compliance and Considerations:
 While Brex provides the tools to facilitate and track intercompany movements, the ultimate responsibility for compliance rests with the business. The platform's requirement for detailed KYC/KYB information on all entities is a key part of its compliance framework. However, companies must still ensure that their intercompany transactions adhere to the specific tax laws, transfer pricing regulations, and legal documentation requirements of all relevant jurisdictions. Brex consistently advises customers to consult with their own tax and legal advisors to ensure full compliance.

## Summary

In conclusion, Brex offers a robust and integrated solution for multi-entity businesses, supporting intercompany transfers and global financial management. Its strengths lie in its centralized dashboard, deep ERP integrations that automate complex accounting tasks, and features like local currency billing that are designed to reduce FX friction. While the platform streamlines many aspects of multi-entity management, businesses should remain aware of potential FX costs and are responsible for ensuring their intercompany activities comply with all applicable legal and tax regulations.

Question 14

Does Brex Treasury offer automatic sweep functionality for money market yields on business cash?

Accepted Answer

## Overview

Brex Treasury provides an automatic sweep functionality that enables businesses to move idle operating cash into accounts designed to generate yield. This feature is a core component of Brex's cash management solution, allowing businesses to automate the process of putting excess cash to work. The system monitors account balances and executes transfers based on user-defined rules, reducing the need for manual intervention. Users can configure the auto-sweep to allocate funds between two primary destinations: a money market fund (MMF) for investment yield or an FDIC-insured cash sweep program for deposit security and interest. This dual-option approach allows companies to tailor their cash management strategy to their specific risk tolerance and liquidity needs.

## Key Features

The auto-sweep functionality is highly configurable. Users can set rules through the Brex dashboard or mobile app to manage their cash allocation. There are two main methods for configuration: a percentage-based split, where a user might designate 50% of their funds to be held in cash and 50% to be invested in an MMF, or a dollar-amount cap, where a user could, for example, direct the first $250,000 into an MMF with any excess funds being swept into the FDIC-insured program. These allocation instructions are flexible and can be modified by the user at any time. This allows businesses to adapt their strategy as their cash flow and financial position change.

## Technical Specifications

The primary investment vehicle for the yield-generating sweep is the Dreyfus Government Cash Management fund, which has the ticker symbol DGVXX. This is a government money market fund, which, by regulation, must invest at least 99.5% of its total assets in cash, U.S. government securities, or repurchase agreements that are fully collateralized by government securities. These funds are generally considered to be low-risk investments. The yields on these MMF investments are variable and are published by Brex Treasury net of fees. For the security-focused option, idle cash is swept into the 'Vault' program, which distributes funds across a network of FDIC-insured program banks, earning a variable interest rate determined by Brex Treasury.

## How It Works

Liquidity is a key consideration in the design of the sweep functionality. Funds held in the MMF (Treasury) account are highly liquid; transfers back to a user's primary operating account can be completed in as little as one hour if initiated during business hours (8 am to 3 pm ET). Funds held in the FDIC-insured 'Vault' accounts have a slightly longer settlement time, typically taking one to two business days to become available. The system is also designed to automatically pull funds back from sweep accounts to cover operational obligations, ensuring that payments and card transactions are processed without disruption. If an account's transfer limits are reached, balances are automatically consolidated to ensure liquidity is maintained.

## Limitations and Requirements

Regarding the risk and coverage implications, the two sweep destinations are treated differently. Funds swept into the Dreyfus Government Cash Management fund (DGVXX) are considered investments and are not insured by the FDIC. Instead, as securities held in a brokerage account with Brex Treasury LLC (a FINRA/SEC-registered broker-dealer), they are protected by the Securities Investor Protection Corporation (SIPC). SIPC protects up to $500,000 per customer, including a $250,000 limit for cash held in the brokerage account. Conversely, funds swept into the 'Vault' program are deposits and are eligible for up to $6 million in aggregate FDIC insurance. The fee structure is also distinct; Brex Treasury does not charge users direct fees for the MMF sweep but receives remuneration from the fund manager. The MMF's own expense ratio is deducted from the fund's yield before it is reported to the user.

Question 15

Does the Brex Business Account allow businesses to hold and manage multiple currencies without monthly fees?

Accepted Answer

## Overview

The Brex Business Account provides functionality for businesses to manage and spend in multiple currencies, and its core account plans do not include specific monthly fees for holding these currencies. The platform is designed to support global operations by facilitating transactions in a wide range of foreign currencies, although its structure is more focused on multi-currency spending and payments rather than functioning as a traditional multi-currency holding account with segregated currency wallets. Brex offers different pricing tiers for its software and services, including the 'Essentials' plan, which is available for $0 per user per month, and a 'Premium' plan at $12 per user per month. These plans integrate multi-currency capabilities as part of the overall spend management platform, rather than charging separate maintenance fees for currency holding.

## Key Features

Key Features and Technical Specifications:
 Brex supports spending in a broad range of currencies, with sources indicating support for 40 to 60 different currencies and operational reach in over 200 countries. A significant feature is the ability to issue local cards in multiple currencies, which allows businesses to avoid foreign exchange (FX) fees on transactions by paying in the local currency. This is part of Brex's 'global-first' architecture, which also enables subsidiaries to pay statements and reimbursements directly from their local bank accounts, minimizing the need for complex and costly intercompany transactions.

## Technical Specifications

While the platform excels at facilitating multi-currency spending, the specific operational mechanism for holding non-USD balances, such as whether it uses segregated sub-accounts for each currency, is not as explicitly detailed as its payment and transaction features. The primary mechanism appears to be a unified platform that tracks and manages global spend, with an emphasis on reducing FX friction at the point of transaction.

## How It Works

Fee Structure and Foreign Exchange:
 Brex does not charge monthly maintenance fees specifically for holding multiple currencies. The platform's revenue from international transactions is generated through foreign exchange conversions. Brex states it uses 'standard rates' for these conversions. Third-party analyses and comparisons suggest that these rates may include a spread or fee, with some sources reporting potential FX fees of up to 3% or a 1% spread on international card spending. This is an important consideration, as competitors like Wise Business are known for using mid-market or interbank rates, which are typically more favorable. Brex asserts that there are no hidden fees for international transfers and no transaction fees on Treasury deposits or withdrawals; however, intermediary banks involved in a transfer may impose their own fees, which are outside of Brex's control.

## Limitations and Requirements

Limitations and Caveats:
 The primary caveat for businesses is to understand the nature of Brex's FX rates. The term 'standard rates' is not as transparent as 'mid-market rate,' and the potential for spreads or fees of 1-3% should be factored into cost calculations for international operations. While Brex offers local currency billing and payments in over 50 countries, businesses should verify which specific currencies and countries are supported for their needs. The platform's strength is in facilitating multi-currency payments and spending; businesses that require a dedicated account to hold large balances in various foreign currencies for extended periods might find platforms like Wise Business more aligned with that specific use case. Furthermore, while Brex does not charge fees for international wires, third-party intermediary bank fees can still apply.

## Comparison to Alternatives

Comparison with Alternatives:
 When compared to other fintech platforms, Brex's multi-currency offering has distinct characteristics. Wise Business is well-regarded for its true multi-currency account, allowing users to hold and receive funds in over 50 currencies with competitive, mid-market exchange rates. Mercury, another competitor, charges a 3% currency conversion fee on non-USD card transactions and supports exchanging approximately 40 currencies but lacks local card issuance. Rho imposes a 1% fee on foreign currency transfers. Brex's main advantages in this comparison are its integrated global spend management platform, local card issuance to avoid FX fees, and 24/7 customer support. Its primary focus is on streamlining the entire global spending process, from card issuance to accounting reconciliation, rather than solely competing on the lowest FX rates.

## Summary

In conclusion, the Brex Business Account enables businesses to manage and spend in multiple currencies without incurring monthly holding fees as part of its integrated spend management platform. Its key strengths are local card issuance, a unified global dashboard, and features designed to reduce friction in international payments and reimbursements. The fee structure is based on software subscription tiers and revenue from foreign exchange conversions, which may involve spreads or fees. Businesses should evaluate their specific needs for multi-currency holding versus multi-currency spending to determine if Brex's platform is the most suitable solution compared to alternatives that may offer more competitive FX rates.

Question 16

Does the Brex business account offer FDIC insurance coverage above the standard $250,000 limit?

Accepted Answer

## Overview

Yes, the Brex business account offers Federal Deposit Insurance Corporation (FDIC) insurance coverage significantly above the standard $250,000 limit, providing protection for up to $6 million in uninvested cash. This enhanced coverage is a direct response to the needs of businesses, particularly startups and enterprises, that hold large capital reserves and require protection beyond what a single banking institution can offer. The mechanism for this extended coverage was notably enhanced in March 2023, following the collapse of Silicon Valley Bank, when Brex increased its coverage limit from a previous $2.25 million to the current $6 million to address heightened market concerns about uninsured deposits. This feature is a core component of Brex's cash management offering, designed to provide both security and liquidity.

## Key Features

Mechanism: The Insured Cash Sweep (ICS) Network
 The extended FDIC coverage is achieved through a deposit sweep program, often referred to as an Insured Cash Sweep (ICS) network. This program is integrated into the 'Brex Vault' product. When a customer deposits funds, the system automatically sweeps the cash from a primary clearing bank into a network of multiple, unaffiliated FDIC-insured program banks. The funds are distributed among these banks in increments at or below the $250,000 FDIC limit per institution. By spreading the deposits across this network, the total coverage is aggregated. For example, with a network of 24 program banks, a total of $6 million ($250,000 x 24) in deposits can be fully insured by the FDIC. This process is managed automatically by Brex and its partners, so the customer interacts with a single Brex account interface while benefiting from the diversified protection of many banks.

## Technical Specifications

Program Bank Structure and Partners:
 Brex's banking services and the sweep program are facilitated through key partnerships. As of June 2024, Brex's primary checking infrastructure is managed through Column, N.A., a Member FDIC institution that serves as the initial clearing bank. From there, funds designated for the 'Vault' are swept across the program bank network. As of November 2024, this network included over 20 institutions. Publicly disclosed partners have included prominent banks such as Axos Bank, East West Bank, CIBC Bank USA, UMB Bank, N.A., and various subsidiaries of Wintrust Financial. This multi-bank model is crucial for mitigating concentration risk and is the foundation of the extended insurance coverage.

## Limitations and Requirements

Distinction from Non-FDIC Instruments:
 It is critical to distinguish between Brex's FDIC-insured products and its other cash management offerings. The up to $6 million in FDIC insurance applies specifically to cash held in the 'Brex Vault' sweep program. Brex also offers a 'Treasury' account, which allows customers to invest in money market funds (MMFs), such as the Dreyfus Government Cash Management fund (DGVXX). These MMFs are investment products and are explicitly not FDIC-insured. Instead, they may be protected by the Securities Investor Protection Corporation (SIPC), which insures securities customers up to $500,000 (including $250,000 for cash) against the failure of the brokerage firm, not against market losses. Brex clearly delineates these products to ensure customers understand the different types of protection associated with their funds.

## Comparison to Alternatives

Comparison to Competitors:
 In the competitive fintech landscape, other platforms offer similar extended FDIC insurance products. For instance, Mercury provides up to $5 million in FDIC insurance through its 'Mercury Vault' product, which also uses a sweep network. Rho offers a significantly higher coverage cap of up to $75 million through a partnership with American Deposit Management Co. and a network of over 400 banks. Brex's $6 million coverage positions it competitively, especially among startups and mid-market companies, by balancing a high insurance limit with other features like yield-earning options and a fully integrated spend management platform.

## Summary

In conclusion, the Brex business account provides FDIC insurance up to $6 million by utilizing an automated deposit sweep network that distributes funds across more than 20 program banks. This feature, enhanced after the 2023 banking crisis, is designed to offer superior deposit protection for businesses with large cash balances. The system operates seamlessly for the user, who manages their funds through a single interface while benefiting from the aggregated insurance of the entire network. This FDIC-insured offering is distinct from Brex's non-FDIC-insured investment products, such as money market funds.

Question 17

Does the Brex Corporate Card charge foreign transaction fees and include travel insurance?

Accepted Answer

## Overview

The Brex Corporate Card does not charge foreign transaction fees on international purchases. This means that when a cardholder makes a purchase in a currency other than U.S. dollars, Brex does not add its own surcharge, which is typically 2-3% on many other corporate cards. The card operates on the Mastercard network, specifically as a World Elite Mastercard, which provides widespread global acceptance in over 200 countries.

## Key Features

The Brex Corporate Card, by virtue of being a World Elite Mastercard, includes a suite of travel insurance benefits and protections. The availability and specific limits of these benefits are detailed in the 'Guide to Benefits' document provided to cardholders. One of the confirmed benefits is a Collision Damage Waiver (CDW) for rental cars. This coverage applies to damage or theft of a rental vehicle when the rental is paid for in its entirety with the Brex Corporate Card. This allows cardholders to decline the rental company's own, often expensive, CDW policy. The card also provides access to 'Mastercard Travel & Lifestyle Services,' which includes a concierge service, a 'Lowest Hotel Rate Guarantee,' and a 'Hotel Stay Guarantee.'

## Technical Specifications

While Brex itself does not assess a fee, currency conversion is handled by the card network. Mastercard applies its standard conversion rates when converting a foreign currency transaction back to U.S. dollars. The specific coverage amounts, terms, conditions, and exclusions for these benefits are governed by the insurance underwriter. While the research findings do not name the specific underwriter for Brex's card, World Elite Mastercard benefits are commonly underwritten by major insurance providers such as AIG, Chubb, or Allianz.

## How It Works

To activate these travel insurance benefits, it is almost always a requirement that a significant portion, if not the entire cost, of the common carrier fare (e.g., airline ticket) or rental car booking be charged to the Brex Corporate Card. Eligibility for coverage typically extends to the cardholder and may also include their spouse and dependent children, though specific terms for business-related travel for employees should be verified. The claims process requires cardholders to notify the benefits administrator within a specified timeframe after an incident occurs and to provide all necessary documentation, which may include receipts, police reports, and statements from the travel provider. The 'Guide to Benefits' contains the specific contact information and procedures for filing a claim.

## Use Cases

Other common travel insurance benefits typically included with World Elite Mastercards, and which Brex directs users to confirm in their 'Guide to Benefits,' are trip cancellation and interruption coverage, trip delay reimbursement, and lost or delayed luggage reimbursement. Trip cancellation/interruption insurance can reimburse for non-refundable travel expenses if a trip is canceled or cut short for a covered reason. Lost luggage coverage provides reimbursement for the value of checked or carry-on baggage if it is lost or stolen by a common carrier.

## Limitations and Requirements

Cardholders should be aware of a practice known as Dynamic Currency Conversion (DCC), where a foreign merchant may offer to process the transaction in the cardholder's home currency (USD) at the point of sale. If this option is chosen, the merchant's own, often less favorable, exchange rate will be used instead of Mastercard's rate, potentially increasing the overall cost of the transaction.

## Summary

In summary, the Brex Corporate Card offers two key benefits for international business: 0% foreign transaction fees and a package of travel insurance protections. The absence of foreign transaction fees provides direct cost savings on international spend. The travel insurance benefits, including rental car CDW and likely trip cancellation and lost luggage coverage, provide a layer of risk mitigation for employees traveling on company business. However, users must consult their specific 'Guide to Benefits' for the exact coverage limits, underwriter details, and claim procedures, and they should be cautious of Dynamic Currency Conversion when making purchases abroad.

Question 18

Does the Brex corporate card offer a 2x rewards multiplier on software subscriptions?

Accepted Answer

## Overview

Yes, the Brex corporate card offers a 2x rewards multiplier on software subscriptions for customers enrolled in the 'Brex Exclusive' rewards program who are on monthly payment terms. This multiplier is a core feature of the program's 'Software' track, designed to provide higher returns for technology-focused companies with significant recurring software expenses. The rate can increase to 3x points per dollar spent on software for 'Brex Exclusive' customers who opt for daily payments instead of monthly.

## Key Features

It is important to note that this enhanced reward rate is specifically for recurring software purchases. The eligibility of a transaction for this multiplier is determined by the merchant's Merchant Category Code (MCC). If a software vendor does not use a standard software-related MCC or codes the transaction as a one-time purchase rather than a recurring subscription, the purchase may only earn the base rewards rate of 1 point per dollar. This MCC dependency is a critical factor for businesses to consider when forecasting their potential rewards earnings.

## Technical Specifications

Beyond the software category, the 'Brex Exclusive' program offers several other tiered multipliers to maximize rewards on common business expenses. The highest multiplier is for rideshare services like Uber and Lyft, which earn 7x points on a monthly payment plan or 8x points on a daily payment plan. For travel expenses, flights and prepaid hotels booked through the Brex Travel portal earn 4x points (or 5x on daily payments). Spending at restaurants earns 3x points (or 4x on daily payments). All other purchases that do not fall into one of these specified bonus categories earn a standard 1x point per dollar. Brex also offers specialized rewards tracks for different industries, such as Life Sciences, where multipliers may be adjusted for category-specific spending like lab supplies or conference tickets. These rates and categories are subject to change at Brex's discretion.

## How It Works

To qualify for the 'Brex Exclusive' multipliers, a company must designate Brex as its primary corporate card. This exclusivity requirement typically means that the majority of the company's business expenses are processed through the Brex platform, or the company meets certain spending and account funding thresholds defined by Brex. Companies that do not meet the criteria for 'Brex Exclusive' status will earn a flat rate of 1 point per dollar on all purchases, including software subscriptions. The rewards structure is designed to incentivize deep engagement with the Brex ecosystem.

## Use Cases

Brex provides several options for redeeming accumulated rewards points, though the value of a point varies by redemption method. The highest value is typically achieved when redeeming for travel through the Brex portal, where each point is worth 1 cent. If a company chooses to redeem points for cash back or a statement credit, the value is lower, at 0.6 cents per point. Points can also be transferred to a selection of airline mileage partners, though the transfer ratios can vary. Other redemption options include gift cards, charitable donations, and unique business-related rewards such as billboard advertising or company offsites.

## Limitations and Requirements

The ongoing acquisition of Brex by Capital One, announced in January 2026, could potentially lead to changes in the rewards program structure, rates, and eligibility requirements in the future, as the two entities integrate their financial products and strategies.

## Comparison to Alternatives

When compared to common flat-rate corporate cards, such as the Ramp card which offers a straightforward 1.5% cash back on all purchases, Brex's model is more complex. It offers the potential for significantly higher returns in specific, high-spend categories like software and rideshare, but it requires businesses to align their spending with these categories and meet the 'Exclusive' status requirements to realize those benefits. A flat-rate card may be more advantageous for businesses with diversified spending that does not concentrate in Brex's bonus categories.

Question 19

Does the Brex corporate card offer higher credit limits than American Express without requiring a personal guarantee?

Accepted Answer

## Overview

The Brex corporate card generally offers higher credit limits than many American Express card products, particularly small business cards, without requiring a personal guarantee from the business owners or executives. This is a foundational differentiator in Brex's product strategy, designed to appeal to startups and high-growth companies by separating business liability from personal assets. The underwriting process for a Brex card does not rely on an individual's personal credit score or history; instead, it is based on the company's real-time financial health, which allows for a dynamic and often more generous credit limit. The application process requires the business's Employer Identification Number (EIN) rather than a Social Security Number, reinforcing the policy of no personal liability.

## How It Works

Brex's underwriting model is based on a dynamic assessment of a company's financial data. To determine a credit limit, Brex analyzes factors such as the company's cash balance in its linked bank accounts, revenue patterns, spending behavior, and financial backing, such as venture capital funding. By integrating with a company's bank and accounting software, Brex maintains a continuous, real-time view of its financial position. This methodology can result in credit limits that are reportedly 10 to 20 times higher, and in some cases up to 30 times higher, than those offered by traditional card issuers. As a company's cash reserves, revenue, or funding increases, its Brex credit limit can automatically increase to scale with its growth. This contrasts sharply with traditional underwriting, which often relies on historical financial statements and personal credit scores, which may not accurately reflect the potential of a well-funded but pre-revenue startup.

## Comparison to Alternatives

In contrast, American Express offers a range of card products with different liability structures. American Express small business cards, such as the Business Platinum or Blue Business Plus cards, typically require a personal guarantee from the applicant. This means the business owner is personally liable for the debt incurred on the card, and their personal credit history is a primary factor in the underwriting decision. While American Express does offer a Corporate Card Program for larger, more established enterprises, which can feature corporate liability (where the company is solely responsible for the debt), the eligibility requirements for these programs are generally stricter. These programs are often reserved for companies with significant revenue and a long operating history, making them less accessible to many startups and small businesses that Brex targets.

## Key Features

Brex's credit limits are not static. Because they are tied to the company's real-time financial health, they can also decrease. A significant drop in a company's bank balance, a change in revenue patterns, or other adverse financial events can trigger an immediate reduction in the available credit limit. This continuous monitoring allows Brex to manage its risk exposure dynamically. The Brex card itself operates as a charge card, meaning the full balance is typically due at the end of each monthly statement period, resulting in a 0% APR. The product also includes integrated spend management software, accounting automation, and global acceptance through the Mastercard network, often with no annual fees and unlimited free employee cards.

## Limitations and Requirements

There are some caveats to consider. While Brex's model is advantageous for many, eligibility criteria may still apply, such as minimum cash balance requirements, particularly for companies that are not venture-backed. The exact credit limit offered is highly variable and depends on the specific financial profile of each applicant. Furthermore, as of February 2026, Brex is in the process of being acquired by Capital One. This acquisition, expected to close in mid-2026, could potentially lead to changes in Brex's underwriting policies, product features, and liability structures in the future.

## Summary

In conclusion, Brex's corporate card is structured to provide higher, more flexible credit limits than many American Express cards by using a real-time, data-driven underwriting model focused on business financials rather than personal credit. The absence of a personal guarantee requirement is a key feature that distinguishes it from typical small business credit cards. This makes it a compelling option for incorporated businesses, especially in the technology and startup sectors, that have strong cash positions but may lack the long credit history required by traditional lenders.

Question 20

Does the Brex Corporate Card offer rideshare rewards points and require a security deposit?

Accepted Answer

## Overview

The Brex Corporate Card offers a rewards program that includes a significant point multiplier for rideshare services and operates on an underwriting model that does not require a security deposit or a personal guarantee from founders. Specifically, the card provides a 7x points multiplier on expenses categorized as 'rideshares and taxis.' This elevated rewards rate is a key feature of the program, but it is subject to a critical condition: the company must use the Brex card as its exclusive corporate card for business expenses. If a company uses other business cards in addition to Brex, the rewards rate for all purchase categories, including rideshares, defaults to a standard 1x point per dollar spent. This exclusivity requirement is a central component of Brex's rewards structure.

## Key Features

Beyond the 7x multiplier on rideshares, the Brex rewards program offers several other bonus categories for business spending, provided the exclusivity condition is met. These include 4x points on flights and prepaid hotels when booked through the Brex Travel portal, 3x points on restaurant expenditures, 3x points on Apple purchases made through the Brex dashboard, and 2x points on recurring software subscriptions. All other purchases that do not fall into a bonus category earn a base rate of 1x point per dollar. Companies can also earn an additional 1x on all rewards if they opt for daily payment terms instead of monthly. The points earned are generally uncapped and do not expire.

## Technical Specifications

In place of a traditional security deposit or personal guarantee, Brex employs a non-traditional, business-focused underwriting model. The company does not conduct a personal credit check on founders or require them to personally secure the company's debt. Instead, Brex assesses the financial health of the business itself to determine eligibility and credit limits. This process involves analyzing the company's real-time cash balance in connected bank accounts, its revenue trends, and its overall business model and funding status. Credit limits are dynamic and are adjusted based on these financial metrics. This approach allows Brex to offer limits that are often 10 to 30 times higher than traditional providers, as they are directly correlated with the company's available cash and financial performance rather than an individual's credit history.

## How It Works

Eligibility for the Brex Corporate Card is determined at the business level. For startups, the typical minimum requirement is a cash balance of $50,000 in a bank account, particularly for those that have received equity investment. For more established mid-market or enterprise businesses, the requirement shifts to revenue, generally needing over $400,000 per month. Points accumulated through the program can be redeemed in several ways. They can be transferred to various airline partners, including major carriers, often at a 1:1 ratio. They can also be redeemed for cash back or as a statement credit, typically at a value of one cent per point. Other redemption options include booking travel through the Brex portal, purchasing gift cards, or accessing unique business-oriented rewards such as billboard campaigns or team offsites.

## Limitations and Requirements

A significant development affecting the long-term nature of these terms is the announced acquisition of Brex by Capital One on January 22, 2026. While Brex continues to operate 'as-is,' it is acknowledged that the underwriting criteria and rewards structures may evolve after the deal is expected to close in mid-2026.

## Summary

In conclusion, the Brex Corporate Card does feature a 7x rewards multiplier for rideshares and does not require a security deposit. The high rewards rate is contingent on the card being the company's primary business card. Its underwriting model, based on business financials rather than personal credit, makes it accessible to startups without imposing personal liability on founders. The program's terms, however, may be subject to future changes following the completion of its acquisition by Capital One.

Question 21

Does the Brex corporate card require personal liability, and what credit limits and rewards does it offer for startups?

Accepted Answer

## Overview

The Brex corporate card is structured specifically to operate without requiring personal liability from a company's founders or owners. This is achieved through a policy of not requiring a personal guarantee, which means an individual's personal assets are legally shielded from the company's card debt. The liability for the balance rests solely with the business entity itself. This model is a significant departure from many traditional small business credit cards, which often require a principal of the company to personally guarantee the debt, thereby blending personal and business financial risk. Brex's approach is designed to appeal to founders of incorporated businesses (such as C-Corps, S-Corps, and LLCs) who wish to maintain a clear separation between their personal finances and company obligations. The underwriting process does not involve a hard pull on an individual's personal credit report.

## Key Features

The rewards program for the Brex card is tailored to the typical spending patterns of startups and technology companies. Under the 'Brex Exclusive' rewards tier, which requires a company to use Brex as its sole corporate card, users can earn accelerated points in several key categories. This includes a 7x points multiplier on rideshares and taxis, 4x points on flights and hotels booked through the Brex travel portal, 3x points on restaurant spending, 3x points on Apple products purchased via the Brex dashboard, and 2x points on recurring software subscriptions. All other spending earns a base rate of 1x point per dollar. These points can be redeemed for statement credits or travel at a value of 1 cent per point, or transferred to a variety of airline loyalty programs, often at a 1:1 ratio.

## Technical Specifications

In addition to the card itself, Brex provides a suite of integrated expense management features at no extra cost with its 'Essentials' plan. This software allows for the issuance of unlimited virtual and physical cards, each with granular spend controls that can be customized by user, department, or vendor. The system also includes automated, IRS-compliant receipt capture and AI-driven expense categorization to reduce manual accounting work. Brex integrates with major accounting platforms such as QuickBooks, Xero, NetSuite, and Expensify to streamline the reconciliation process.

## How It Works

Credit limits on the Brex card are not determined by personal credit scores but are instead dynamically calculated based on the business's financial health. Brex's underwriting system connects to the company's bank accounts to monitor its cash balance, revenue patterns, and spending habits in real-time. This data-driven approach allows Brex to set credit limits that are directly reflective of the company's ability to pay. As a result, credit limits are often significantly higher than those offered by traditional banks, frequently cited as being 10 to 20 times greater. For businesses that also use a Brex business account to hold their primary cash reserves, the limits can be even higher, potentially up to 40 times that of other providers. However, because these limits are dynamic, they can be adjusted downwards if the company's cash balance or revenue decreases, ensuring the credit extended remains aligned with the company's current financial standing.

## Limitations and Requirements

Eligibility for the card is generally limited to incorporated businesses, excluding sole proprietorships. Startups typically need to demonstrate a minimum bank balance of $50,000, especially if they are venture-backed. It is also important to note that Brex operates as a charge card, meaning the full balance must be paid off automatically every 30 days; it does not permit carrying revolving debt. The pending acquisition of Brex by Capital One, expected to close in mid-2026, may lead to future changes in these underwriting and rewards structures.

## Summary

In conclusion, the Brex corporate card offers a compelling package for startups by eliminating personal liability, providing high and dynamic credit limits based on business financials, and offering a rewards program focused on common startup expenses. This is combined with a built-in expense management platform to create a comprehensive financial operating system for businesses. The key requirements include being an incorporated entity with sufficient cash reserves and adhering to the 30-day charge card payment schedule.

Question 22

Does the Brex corporate card require personal liability, and what credit limits and rewards does it offer startups?

Accepted Answer

## Overview

The Brex corporate card for startups does not require a personal guarantee (PG) or a personal credit check from the business owners. This is a foundational feature of the product, designed to separate the company's financial liabilities from the founders' personal assets. The application process relies on the company's Employer Identification Number (EIN) rather than a founder's Social Security Number. This structure insulates personal assets from business debt, which is a significant departure from many traditional small business credit cards that hold founders personally liable. This no-PG policy is targeted at specific business profiles, primarily venture-backed startups, mid-market companies, and other scaled enterprises. Sole proprietorships and businesses with insufficient cash flow generally do not qualify.

## Key Features

Credit limits on the Brex card are underwritten based on the business's financial health, not the personal credit history of its owners. Brex determines credit limits by analyzing the company's cash balance, revenue streams, and spending patterns. The limits are dynamic, meaning they can be adjusted in near real-time based on the financial data Brex accesses by linking to the company's bank and accounting systems. This model allows Brex to offer credit limits that are often 10 to 30 times higher than those of traditional credit cards, providing greater spending power to support a company's growth and operational expenses. To be eligible, a venture-backed startup is typically required to maintain a minimum cash balance of around $50,000, while mid-market companies may need to show monthly revenues of approximately $400,000.

## Technical Specifications

The Brex rewards program is structured to benefit common startup expenditures, with the highest point multipliers reserved for customers in the 'Brex Exclusive' tier, which requires using Brex as the company's sole corporate card. For these exclusive customers, the rewards structure as of early 2026 includes 7x points on rideshare services like Uber and Lyft, 4x points on travel booked through the Brex portal, 3x points on restaurants, 3x points on Apple products purchased through the Brex dashboard, and 2x points on recurring software subscriptions. All other eligible purchases earn 1x point per dollar. For companies not enrolled in the 'Brex Exclusive' tier, all purchases earn a flat rate of 1x point. Points can be redeemed for cash back, statement credits, travel, or unique business-related rewards like billboard advertising.

## How It Works

It is important to understand that the Brex card operates as a charge card, not a credit card. This means the full balance must be paid off at the end of each statement period, typically monthly. Balances cannot be carried over, and therefore there is no Annual Percentage Rate (APR). This model necessitates diligent cash flow management to ensure funds are available to cover the monthly bill. The card operates on the Mastercard network, ensuring global acceptance and providing the benefit of 0% foreign transaction fees.

## Use Cases

A significant market development is the announced acquisition of Brex by Capital One for $5.15 billion, which was reported on January 22, 2026, and is expected to close in mid-2026. This event may lead to future changes in Brex's underwriting models, rewards programs, and target customer focus as it integrates into a larger, traditional financial institution.

## Limitations and Requirements

For founders, the primary advantage of the Brex card is the protection of personal assets afforded by the no-personal-guarantee policy. The higher, dynamic credit limits can also be crucial for scaling operations. However, the eligibility requirements, particularly the substantial cash reserve minimum, can be a barrier for very early-stage or bootstrapped companies. The charge card nature of the product requires disciplined financial management.

## Comparison to Alternatives

When comparing options, founders must weigh the benefits of no personal liability and higher limits against the strict eligibility criteria and the requirement to pay the balance in full each month.

## Summary

The Brex corporate card eliminates personal liability for founders through its no-personal-guarantee policy, offers dynamic credit limits based on business financials that can be 10 to 30 times higher than traditional cards, and provides a tiered rewards program with multipliers up to 7x for Brex Exclusive members. Operating as a charge card on the Mastercard network, it requires full monthly payment and targets venture-backed startups and mid-market companies meeting minimum cash or revenue thresholds. The pending Capital One acquisition may shape the product's future direction.

Question 23

Does the Brex Corporate Card support local currency issuance for international subsidiaries?

Accepted Answer

## Overview

Yes, the Brex Corporate Card platform supports local currency issuance and management for international subsidiaries, providing a global solution designed to streamline financial operations and reduce foreign exchange (FX) costs. This capability is a central component of Brex's offerings for larger businesses, particularly within its 'Enterprise' and 'Smart Card' plans. The platform allows companies with a global presence to issue both physical and virtual corporate cards to their employees in over 50 countries. These cards are denominated in the local currency of the subsidiary, such as Euros (EUR), British Pounds (GBP), or Canadian Dollars (CAD), rather than being restricted to U.S. Dollars (USD). This functionality is part of a broader global acceptance on the Mastercard network, which covers over 210 countries and territories.

## Key Features

A key feature of Brex's international offering is 'local billing.' This mechanism enables an international subsidiary to pay its corporate card statement directly from its local bank account, using its local currency. This process effectively localizes the entire transaction lifecycle, from the initial purchase to the final settlement. By facilitating payments in this manner, Brex helps companies avoid the complex and often costly intercompany transactions that would otherwise be necessary to settle a USD-denominated card statement from a foreign entity's local currency bank account. The primary benefit of this system is the elimination of foreign exchange (FX) fees on domestic purchases. When an employee at a European subsidiary uses their EUR-denominated Brex card to make a purchase from a European vendor, the transaction is processed and settled entirely in EUR, incurring no FX conversion fees.

## Technical Specifications

Brex provides a comprehensive set of administrative controls for managing these global operations. From a single, unified dashboard, administrators can oversee spending across all legal entities and countries, either collectively or on an entity-by-entity basis. The platform allows admins to assign employees to specific legal entities, each with its own billing information, budgets, and tailored expense policies. This ensures that spending is billed directly to the correct subsidiary and adheres to local compliance and internal controls. The system also features native integrations with major Enterprise Resource Planning (ERP) systems like NetSuite and QuickBooks. These integrations facilitate the seamless mapping of legal entities to subsidiary General Ledger (GL) accounts, automating the reconciliation process for global spend.

## How It Works

To support and expand these capabilities, Brex has actively pursued regulatory licensing in key markets. A 2025 press release highlighted that Brex had secured an EU Payment Institution License, which authorizes the company to directly serve businesses based in the European Union. This license enables Brex to issue locally accepted cards and originate payments within the EU, strengthening its compliance and service offering in the region. While this provides clear support for the EU, and the platform supports over 50 countries for local issuance, the specifics of availability and regulatory compliance in other regions like Latin America or APAC are subject to local frameworks. Companies must verify that their specific operating countries are included in Brex's supported regions.

## Limitations and Requirements

It is important to understand the limitations regarding FX fees. While the local billing feature eliminates FX fees on domestic transactions, an FX markup will still apply to cross-currency transactions. For example, if an employee with a EUR-denominated card makes a purchase from a U.S.-based website that bills in USD, a currency conversion will occur, and an associated FX fee will be applied. The system is designed to minimize FX costs for local operations, not to eliminate them entirely for all international transactions.

## Summary

In conclusion, Brex offers a robust solution for multinational companies by supporting local currency card issuance in over 50 countries. The 'local billing' feature allows subsidiaries to settle statements in their local currency from local bank accounts, avoiding FX fees on domestic purchases. This is managed through a centralized dashboard with multi-entity controls and ERP integrations. While regulatory expansion, such as the EU license, is ongoing, companies should confirm availability in their specific countries of operation and remain aware that FX fees still apply to cross-currency transactions.

Question 24

How do Brex rewards for software and advertising spend compare to Ramp's flat cashback rate?

Accepted Answer

## Overview

The rewards programs offered by Brex and Ramp present two distinct models for businesses: Brex utilizes a category-specific multiplier system, while Ramp offers a straightforward flat-rate cashback on all spending. The optimal choice between the two depends heavily on a company's specific spending patterns, particularly its expenditure on software and advertising.

## Key Features

Ramp's core offering is a simple and predictable cashback rate of up to 1.5% on all eligible card spending. This flat rate applies universally across all merchant categories, with no need to track bonus categories or activate special offers. The cashback is issued automatically as a statement credit, eliminating any friction in the redemption process. This model provides consistent, predictable returns and is advantageous for businesses with diversified spending across many categories, as every dollar spent contributes equally to the rewards earned. There are no caps on the total cashback that can be earned, and the card carries no annual fee.

## Technical Specifications

In contrast, Brex's rewards program is structured to provide accelerated earnings in specific, high-value business categories, including software and advertising. To access the highest reward rates, companies typically need to qualify for 'Brex Exclusive' status, which generally involves committing all of their corporate card spend to Brex. For customers on the 'Brex Exclusive + daily payments' product tier, the program offers a 3x points multiplier on recurring software expenses. For those on the 'Brex Exclusive + monthly payments' tier, the multiplier is 2x. Assuming a point valuation of 1 cent per point (a common valuation for cash back or statement credit redemptions), this translates to an effective cashback rate of 2-3% on software, which is significantly higher than Ramp's 1.5%. For advertising spend, the 'Brex Exclusive + daily payments' tier offers a 1.5x multiplier, which is on par with Ramp's flat rate. Other high-value categories for Brex include 8x on rideshare and 5x on travel booked through their portal.

## How It Works

Beyond direct point multipliers, a significant component of Brex's value proposition is its extensive ecosystem of partner credits and discounts, which are particularly relevant for software and advertising spend. As of early 2026, these offers include substantial credits such as $5,000 in AWS credits, up to $200,000 in Google Cloud credits, and $2,500 in OpenAI credits. For software, partners like Slack (30% off), Notion (6 months free), and GitHub (20 free seats) provide direct cost savings that can far exceed the value of cashback earned on those purchases. For a startup or tech-focused company, these partner deals can represent tens of thousands of dollars in value, a benefit that is not a primary feature of Ramp's offering. These credits are typically available to new customers of the partner services and are a key differentiator for companies in their growth phase.

## Use Cases

Redemption options also differ between the two platforms. Ramp's system is automated, with cashback applied directly as a statement credit, requiring no action from the user. Brex points offer more flexibility; they can be redeemed for cash back, applied as a statement credit, used to book travel through the Brex portal, or potentially transferred to airline and hotel partners. While this flexibility can be appealing, the value of a Brex point can vary depending on the redemption method chosen. A point may be worth 1 cent for cash back but could yield higher value when used for specific travel bookings or partner services. This requires the business to be more active in managing and optimizing their redemptions to maximize value, whereas Ramp's value is fixed and automatic.

## Summary

In conclusion, the comparison between Brex and Ramp's rewards is a trade-off between targeted high returns and universal simplicity. Ramp's 1.5% flat cashback is simple, predictable, and beneficial for companies with diverse spending. Brex's program is more complex but offers the potential for significantly higher effective returns for businesses with concentrated spending in categories like software, rideshare, and travel. The addition of valuable partner credits for services like AWS, Google Cloud, and Slack makes Brex particularly compelling for technology startups and high-growth companies. A business with a large software budget would likely earn more in raw rewards from Brex's 3x multiplier than from Ramp's 1.5% cashback. Conversely, a company with large, uncategorized expenses might find Ramp's consistent flat rate more advantageous. The decision requires a careful analysis of a company's historical and projected spending distribution.

Question 25

How do Brex's FX rates and wire transfer fees compare to traditional banks like SVB and Chase?

Accepted Answer

## Overview

Brex's foreign exchange (FX) rates and wire transfer fees present a different value proposition compared to traditional banks like Silicon Valley Bank (SVB), now a division of First Citizens Bank, and JPMorgan Chase. The primary distinction lies in the fee structure for the transfers themselves. Brex advertises a $0 transaction fee for sending and receiving both domestic and international wires, as well as for ACH transfers. This contrasts sharply with the published fee schedules of traditional banks. For instance, as of early 2026, JPMorgan Chase charges business customers $15 for an incoming wire, $25-$35 for an outgoing domestic wire, and $40-$50 for an outgoing international wire in USD, with some fees waived for premium account tiers. Similarly, SVB charges $10 for an incoming wire and $25 for a standard outgoing domestic wire. This fee-free approach for the transaction itself is a core part of Brex's marketing to businesses seeking to reduce operational costs.

## Key Features

However, the comparison becomes more nuanced when examining foreign exchange (FX) practices. While the wire transfer fee may be $0, international transactions involving currency conversion are subject to an FX spread at all institutions. Brex states that for international wires sent in a local currency, it applies an FX rate at its 'sole discretion,' which may include a markup of up to 3% of the transaction amount. This rate is described as being 'less favorable' than interbank rates. The exact spread can be variable, depending on factors like the currency, transaction amount, and the customer's relationship with Brex. This practice is not fundamentally different from traditional banks, which also apply a margin or spread to the mid-market exchange rate. JPMorgan Chase, for example, notes a 3% 'Foreign Exchange Rate Adjustment' for card purchases in non-USD currencies. While banks' spreads are also variable, the key difference can be in transparency. User feedback suggests a desire for greater real-time clarity on the exact FX rate and spread being applied by Brex before a transaction is executed.

## How It Works

Another important factor is the handling of incoming international funds and the payment rails used. Brex business accounts can only receive incoming international wires in USD; any funds sent in a foreign currency are automatically converted by Brex's banking partners before deposit, at a rate determined by that partner. Brex utilizes partners like Emigrant Bank and Fifth Third Bank for its services and operates on the SWIFT network for international wires. Traditional banks like Chase and SVB operate their own extensive global networks. A significant caveat for all providers is the potential for intermediary or correspondent bank fees, which are charges levied by other banks in the payment chain. While Brex states it does not charge these fees, it acknowledges that other banks in the process might, and these costs could be deducted from the transfer amount. Brex does offer 'Principal Protection' in some cases, where their banking partner may cover certain USD wire deductions.

## Comparison to Alternatives

Looking at the specific fee schedules of the traditional banks provides further context. At SVB (as of Feb 2026), an outgoing international wire in USD costs $30, while one in a foreign currency costs $30 ($25 if done online). There are also potential additional fees, such as a $30 wire repair fee or a $35 charge for intermediary bank costs. JPMorgan Chase has a more complex, tiered structure. While an outgoing international USD wire is expensive ($40 online, $50 in branch), an outgoing international wire sent in a foreign currency via their online platform costs only $5, and this fee is waived entirely if the transaction value is $5,000 USD or more. This incentivizes customers to perform the currency conversion with Chase rather than sending USD abroad. Therefore, for larger international transfers, the total cost at Chase (a $0 transaction fee plus their FX spread) could potentially be competitive with Brex's model ($0 transaction fee plus their FX spread).

## Summary

In conclusion, Brex's fee structure is simpler and more attractive on the surface, with $0 fees for most standard wire and ACH transactions. This can result in significant savings for businesses that primarily transact domestically or send international wires in USD without frequent currency conversion. However, when comparing international payments involving FX, the total cost is a combination of the transaction fee and the FX spread. Brex's spread can be up to 3%, similar to what might be applied by traditional banks. Banks like Chase may have higher explicit wire fees for USD transfers but offer very low or zero fees for online FX transfers, making their all-in cost potentially competitive. Therefore, a direct comparison requires businesses to evaluate their specific transaction patterns, including currency, volume, and frequency, and to consider the total cost of conversion, not just the upfront transfer fee.

Question 26

How does Brex enforce spend policy controls compared to Concur's expense management approach?

Accepted Answer

## Overview

Brex enforces spend policy controls primarily through a pre-transaction, authorization-layer model, which differs fundamentally from SAP Concur's traditional post-transaction expense auditing approach. Brex's system is designed to prevent out-of-policy spending before it occurs by embedding policy rules directly into the payment authorization process. When an employee uses a Brex corporate card, the transaction is evaluated in real-time against a set of pre-configured controls. If a purchase violates these rules, it is automatically declined at the point of sale. This proactive enforcement mechanism moves financial control 'upstream' in the spending process, ensuring a high degree of compliance from the outset. In contrast, SAP Concur has historically operated on a reactive model, where policy violations are identified 'downstream' after an expense has already been incurred and submitted for reimbursement.

## Key Features

Brex's Pre-Transaction Control Mechanisms:
 Brex's integrated platform, which combines corporate cards with spend management software, enables a variety of real-time controls. Finance teams can configure specific rules, such as blocking certain Merchant Category Codes (MCCs) to prevent spending at prohibited types of businesses, like bars or casinos. They can also create merchant allow/deny lists to restrict purchases to approved vendors. Per-card spending limits can be set for maximum transaction amounts or for daily, monthly, or total budgets. These limits are hard-coded, and any attempt to exceed them results in an immediate decline. Furthermore, Brex introduced AI-powered compliance features in its 2025 releases, including an AI agent that can instantly confirm transactions against policy, flag exceptions, and simplify receipt management. This real-time feedback loop not only enforces policy but also educates employees on spending rules at the moment of purchase.

## How It Works

SAP Concur's Post-Transaction and Hybrid Model:
 SAP Concur's strength lies in its comprehensive post-transaction auditing and deep integration with large enterprise resource planning (ERP) systems, particularly SAP. Its core workflow involves employees submitting expense reports, which are then reviewed against company policy by the Concur Audit Service. This service uses a powerful policy engine to flag non-compliant items, duplicates, and other exceptions. While this is a robust system for ensuring compliance, it is fundamentally reactive; it catches violations after the money has been spent. Over time, Concur has incorporated pre-spend features, such as Concur Request, which allows for pre-approval of travel and large expenses. However, this pre-approval typically does not create a hard block on the card at the network level. More recent updates, like a partnership with Mastercard announced in July 2025, provide real-time alerts to prompt employees for receipts at the point of sale, but this still does not decline the transaction for policy violations in the same way Brex does. Concur Verify, an AI-driven service launched in late 2025, accelerates the audit process by reviewing 100% of expense reports upon submission, but this is still a post-transaction control.

## Comparison to Alternatives

Implementation and User Experience Comparison:
 The two different models lead to distinct implementation and user experiences. Brex is often cited in third-party reviews for its modern, intuitive user interface and ease of setup, frequently requiring just a single demo. Because the card and software are a single, integrated product, the policy enforcement is seamless. This generally leads to a smoother change management process and high employee compliance, reported at 99%. In contrast, SAP Concur is known for its complexity and steeper learning curve. Its implementation can be a significant undertaking, requiring substantial IT and finance resources, though it offers unparalleled integration with the broader SAP ecosystem, making it a preferred choice for large, global enterprises already using SAP. The employee experience on Concur can involve more manual work, such as receipt matching, and potentially slower reimbursement cycles.

## Summary

In conclusion, Brex and SAP Concur represent two different philosophies of spend control. Brex's pre-transaction model prioritizes preventing out-of-policy spend from ever happening through real-time, authorization-layer controls on its integrated card. This approach is proactive, offers immediate feedback, and is characterized by a modern user experience. SAP Concur's model is primarily reactive, focusing on comprehensive post-transaction auditing to detect and rectify policy violations after they occur. While it is evolving with near-real-time features, its core strength remains in its robust policy engine and deep integration within complex enterprise environments.

Question 27

How does Brex handle automatic receipt matching and accounting sync for scaling tech companies?

Accepted Answer

## Overview

Brex handles automatic receipt matching and accounting synchronization for scaling tech companies through a combination of artificial intelligence, direct software integrations, and flexible submission methods. The system is designed to minimize manual data entry and accelerate the financial close process by creating a near-real-time flow of enriched transaction data from the point of purchase to the company's general ledger. This automation is critical for scaling companies where transaction volume and employee headcount are increasing rapidly.

## Key Features

The core of the receipt management process is an AI-powered Optical Character Recognition (OCR) engine. This technology allows employees to submit receipts through various channels, including taking a photo with the Brex mobile app, forwarding an email to a dedicated address (receipts@brex.com), sending an SMS message, or uploading via a Slack integration. Once a receipt is submitted, the OCR system extracts key information such as the merchant name, transaction date, and total amount. The system then automatically matches the receipt to its corresponding card transaction, typically verifying the match if at least two of these three data points align. For certain high-volume merchants like Uber, Lyft, and major hotel chains, Brex has direct connections that automatically generate itemized, IRS-compliant receipts, eliminating the need for any employee action.

## Technical Specifications

For accounting synchronization, Brex provides deep, direct integrations with major Enterprise Resource Planning (ERP) and accounting software platforms, including NetSuite, QuickBooks Online (QBO), Xero, and Sage Intacct. For NetSuite, Brex is a certified 'Built for NetSuite' partner, offering an installable bundle that allows expenses to be exported as journal entries, vendor bills, or credit card transactions, and even supports amortization for prepaid costs. The QBO integration works via bank feeds that pull in transactions and match them against synced bills. Across these platforms, Brex enables detailed mapping of transaction data to a company's specific chart of accounts. This includes mapping to General Ledger (GL) codes, departments, classes, locations, and customer/job codes, with AI-powered suggestions to automate the categorization process. For companies using unsupported ERPs, a 'Custom Accounting (Universal CSV)' integration is available.

## How It Works

The cadence of this synchronization is designed to be near-real-time, ensuring that the accounting system reflects an up-to-date view of company spending. This purchase-to-ledger workflow replaces traditional, batched expense reports. To ensure data integrity and policy adherence, Brex incorporates several compliance features. The system automatically flags transactions with missing receipts and sends automated reminders to employees via in-app notifications. It also flags out-of-policy spend, duplicate charges, and per diem overages for manager review. The Premium and Enterprise tiers include more advanced features like AI-powered compliance audit detection and customizable, dynamic approval chains.

## Use Cases

Functionality is tiered based on company size and complexity. The 'Essentials' plan includes basic integrations and rules for up to two entities. The 'Premium' plan ($12/user/month) adds advanced compliance features, multi-entity support for US and international operations, and customizable ERP/HRIS integrations. The 'Enterprise' plan offers unlimited entities and fully customizable implementation.

## Limitations and Requirements

While the system is highly automated, companies should be aware of certain limitations. The initial setup and configuration of complex ERP mappings can be intricate and may require dedicated effort. Some users have reported occasional issues, such as missed SMS notifications. Furthermore, international operations may have specific requirements, such as the need to use .xml CFDI files for tax compliance in Mexico.

## Summary

In conclusion, Brex provides a comprehensive and highly automated system for receipt matching and accounting synchronization tailored to the needs of scaling technology companies. By leveraging AI, direct ERP integrations, and robust compliance features, the platform significantly reduces manual accounting work and provides real-time financial visibility. However, access to the most advanced features is dependent on the subscription tier, and complex implementations require careful initial configuration.

Question 28

How does Brex handle receipt matching and global tax compliance for distributed teams?

Accepted Answer

## Overview

Brex provides a comprehensive solution for handling receipt matching and global tax compliance for distributed teams by combining AI-powered automation with a financial infrastructure designed for international operations. The platform streamlines expense management for companies with employees in different countries and time zones by automating data capture, supporting multiple currencies, and facilitating the collection of documentation required for tax reclamation.

## Key Features

For global tax compliance, Brex offers robust features for capturing and tracking Value-Added Tax (VAT) and Goods and Services Tax (GST). Administrators can enable VAT/GST tracking on a per-entity basis, allowing the system to identify and extract tax data directly from uploaded receipts. This is crucial for companies seeking to reclaim taxes on international business expenses. The platform allows users to separately input the tax portion of an expense and requires the submission of valid tax documents, such as a full invoice, to support reclamation efforts. Brex provides specific regional support, such as prepopulating tax types like GST, PST, and HST for Canadian entities and supporting the .xml CFDI file format required by tax authorities in Mexico. This captured tax data can be exported directly to a company's Enterprise Resource Planning (ERP) system or via a custom CSV, streamlining the reporting and reclamation process.

## Technical Specifications

The foundation of Brex's receipt matching for distributed teams is its advanced Optical Character Recognition (OCR) technology. This system is capable of processing receipts in any language and currency, automatically extracting critical information such as vendor name, date, line items, and total amount. Employees can submit receipts through various methods, including the Brex mobile app, email forwarding, and SMS. The 'AI Receipt Match' feature then links the submitted receipt to the corresponding card transaction, often within minutes. This process is currency-agnostic and recognizes regional date formats, making it effective for a global workforce. The automation reduces the manual burden on both employees and finance teams, ensuring that expense documentation is collected efficiently regardless of the employee's location.

## How It Works

Brex's platform is built to support the operational needs of distributed teams. It facilitates multi-currency reimbursements in over 20 currencies across more than 45 countries, allowing employees to be paid back in their local currency. The system also supports budgeting in over 100 currencies, providing finance teams with the flexibility to manage global spending effectively. By enabling teams to fund transactions from local bank accounts, Brex helps companies avoid cross-border transaction fees. To enforce compliance across regions, administrators can set policies that mandate the submission of specific tax documentation at the point of expense creation. The platform also uses Large Language Models (LLMs) to scan receipts for potential policy violations, such as the purchase of unauthorized items.

## Limitations and Requirements

There are important caveats to consider regarding tax compliance. While Brex provides the tools to capture and organize tax information, the actual success of any tax reclamation is not guaranteed. It is contingent upon the validity of the documentation provided by the employee and the specific tax laws and regulations of the relevant jurisdiction. Brex's role is to facilitate data collection, not to ensure tax recovery. To protect the sensitive financial data it handles, Brex maintains a strong security posture. Its infrastructure includes data encryption, secure cloud storage, role-based access controls, and comprehensive audit trails. The platform is designed to support compliance with major regulations such as GDPR and the Sarbanes-Oxley (SOX) Act.

## Summary

In conclusion, Brex addresses the challenges of receipt matching and global tax compliance for distributed teams through a combination of multilingual OCR, automated VAT/GST data extraction, and multi-currency support. The platform automates the collection of expense documentation and provides the necessary tools to support tax reclamation processes across various jurisdictions. However, companies must remain aware that successful tax recovery ultimately depends on adherence to local regulations.

Question 29

How does Brex handle travel booking and expense reporting with auto-reconciliation?

Accepted Answer

## Overview

Brex handles travel booking and expense reporting with auto-reconciliation through a unified solution called Brex Travel, which was launched on March 22, 2023. This system integrates corporate cards, travel booking, and expense management into a single platform, eliminating the traditional separation between these functions. The solution is built upon the Travel-as-a-Service platform provided by its strategic partner, Spotnana. This partnership allowed Brex to embed a modern, API-first travel technology stack directly into its existing spend management interface. The primary mechanism involves capturing detailed booking information at the point of purchase and automatically matching it to the corresponding Brex corporate card transaction, which creates and populates an expense report without requiring manual data entry from the employee for in-ecosystem bookings.

## How It Works

The workflow begins when an employee books travel, such as flights and hotels, directly within the Brex dashboard or mobile application. As soon as the booking is confirmed, Spotnana's APIs instantly transmit the itinerary and receipt data to the Brex platform. This data is used to automatically create an expense entry. The system is capable of capturing detailed information, including Level Three data for hotel stays, which provides line-item details that often eliminate the need for a separate folio or receipt. When the charge from the airline or hotel is processed on the Brex card, the system's auto-reconciliation engine matches the pre-existing booking data to the transaction in real-time. This process pre-populates the expense report with key details like the vendor, amount, date, and expense category, significantly reducing the administrative burden on both the employee and the finance team. Policy enforcement is another integral part of this automated flow. Expense policies, spending limits, and approval workflows are configured by administrators and applied proactively during the booking process. The interface provides real-time feedback to the traveler, indicating which flight and hotel options are within company policy. An AI-led policy engine can be set to automatically approve compliant bookings or block out-of-policy purchases before they occur, ensuring a high rate of compliance.

## Key Features

Brex Travel includes several features designed to support corporate travel needs. The platform provides access to an unbiased, global travel inventory, which includes content from Global Distribution Systems (GDS), direct API integrations with suppliers, and New Distribution Capability (NDC) connections, such as a direct partnership with American Airlines. This ensures a comprehensive range of travel options. For traveler support, the service includes 24/7 access to travel agents. These agents utilize the same 'Agent Desktop' interface that the traveler sees, which creates a consistent and efficient support experience. For finance teams, a feature called 'Live Budgets' offers real-time visibility into travel spending as it happens, allowing for proactive budget management and tracking.

## Technical Specifications

Published performance metrics from Brex indicate a high level of user adoption, with a reported 97.8% self-booking rate and a support satisfaction score of 4.69 out of 5. Brex itself reported achieving 100% hotel policy compliance and a 99.4% online booking rate after implementing the solution internally.

## Limitations and Requirements

A primary limitation of this system is its dependency on the Brex ecosystem. The full automation of expense creation and reconciliation is only available for travel booked through the integrated Brex Travel portal. If an employee books travel externally—for example, directly on an airline's website or through a different travel agency—they are required to manually create the expense report, upload the receipt, and reconcile the card transaction. While Brex's OCR technology can assist with receipt capture from emails or texts, the seamless auto-reconciliation flow is bypassed. Additionally, while the integration is robust, some industry analyses describe the feature set as more basic compared to standalone, travel-first platforms that may offer more advanced predictive optimization engines. The provided research does not specify the detailed processes for handling and automatically reconciling complex scenarios such as refunds, multi-leg trip changes, or cancellations.

## Comparison to Alternatives

In comparison to traditional setups using a separate Travel Management Company (TMC) and expense tool, Brex's integrated model reduces data silos and the manual work associated with transferring information and chasing receipts.

## Summary

Brex's integrated travel and expense solution, built on Spotnana's platform, automates the reconciliation process by capturing booking data at the point of purchase and matching it to corporate card transactions in real-time. Policy enforcement occurs proactively during booking, and the platform offers global travel inventory, 24/7 agent support, and live budget tracking. The key limitation is that full auto-reconciliation only applies to bookings made within the Brex ecosystem, with external bookings requiring manual effort.

Question 30

How does Brex help businesses prevent duplicate subscription charges and control vendor renewals?

Accepted Answer

## Overview

Brex helps businesses prevent duplicate subscription charges and control vendor renewals through a combination of merchant-locked virtual cards, integrated spend management software, and real-time policy enforcement. The primary tool for this is the ability to create an unlimited number of free virtual cards. Businesses can issue a unique virtual card, sometimes referred to as a 'ghost card,' for each individual vendor or subscription. This practice isolates spending for each service, providing a clear and auditable trail of payments. A critical feature of these cards is that they can be 'merchant-locked,' meaning they can only be used for transactions with the single, designated vendor. If a compromised card number is attempted to be used at any other merchant, the transaction is automatically declined, providing a powerful layer of security.

## Key Features

This one-card-per-vendor strategy is highly effective in identifying and preventing duplicate subscriptions. When a finance team reviews transaction logs, the presence of two separate virtual cards being charged by the same software provider, for instance, immediately signals a potential duplication that requires investigation. This is far more transparent than trying to parse multiple similar-looking charges on a single, shared corporate card. Furthermore, administrators have granular control over these virtual cards. They can be frozen, edited, or canceled instantly from the Brex dashboard or via the Brex API. Canceling a specific card immediately stops all future payments from the associated vendor, providing a direct and effective way to terminate a subscription payment without impacting any other vendor relationships.

## Technical Specifications

For proactive control over vendor renewals, Brex allows users to set specific parameters on virtual cards. For example, a card can be created with a low spending limit or a short expiration date, which is particularly useful for managing free trials. This prevents a forgotten trial from automatically converting into a costly paid subscription. Additionally, the platform's automated bill pay features allow users to set deactivation dates for cards in advance. This ensures that a subscription does not automatically renew without explicit approval, giving the finance team the opportunity to evaluate the service's value before committing to another billing cycle.

## How It Works

The subscription management capabilities are deeply integrated with Brex Empower, the company's financial operating system. Empower allows finance teams to establish and enforce granular spend policies in real-time. These policies can include limits based on spending categories, individual transaction amounts, and specific merchants. If an employee attempts to make a purchase, including a subscription charge, that violates a predefined policy—such as exceeding a budget or using an unapproved vendor—the transaction is blocked at the point of sale. This proactive enforcement prevents out-of-policy spending before it occurs and provides administrators with complete visibility and control over all recurring expenses.

## Limitations and Requirements

While these tools are powerful, there are limitations to consider. Deactivating or canceling a virtual card is a payment control mechanism; it stops the flow of funds but does not legally terminate the underlying contractual obligation with the vendor. Businesses must still follow the vendor's official cancellation process to formally end the service agreement and avoid potential legal or financial repercussions. Additionally, the virtual cards are digital-only and cannot be used for in-person transactions. Finally, while the system's AI can flag suspicious or duplicate transactions, manual review by the finance team is still essential to confirm and resolve these issues.

## Summary

In conclusion, Brex provides a robust framework for managing recurring spend and controlling vendor renewals. By enabling the creation of merchant-locked virtual cards for each vendor, it simplifies tracking, aids in the identification of duplicates, and allows for immediate payment cancellation. These card-level controls are enhanced by the real-time policy enforcement and budgeting capabilities of the Brex Empower platform. This gives finance teams proactive control over subscription costs, though it must be complemented by manual contract management to ensure legal compliance with vendors.

Question 31

How does Brex provide FDIC insurance coverage and liquidity for venture-backed companies?

Accepted Answer

## Overview

Brex provides a dual solution of enhanced FDIC insurance coverage and immediate operational liquidity for venture-backed companies through a sophisticated, multi-layered financial platform. This structure is specifically designed to address the primary concerns of high-growth businesses: protecting large cash reserves while ensuring funds remain fully accessible for daily operations like payroll, vendor payments, and growth investments. The platform integrates three core components—'Vault' for safety, 'Checking' for liquidity, and 'Treasury' for yield—to create a comprehensive cash management system that became particularly relevant in the post-Silicon Valley Bank (SVB) environment of 2023 and beyond.

## Key Features

Safety through Diversified FDIC Insurance Coverage:
 The primary mechanism for safety is the 'Brex Vault,' which offers up to $6 million in FDIC insurance. This is achieved through a deposit sweep network that automatically distributes a company's uninvested cash across a network of over 20 FDIC-insured program banks. Funds are initially held at a clearing bank, Column N.A. (Member FDIC), before being swept to omnibus accounts at the various program banks. By allocating funds in increments at or below the $250,000 FDIC limit per institution, Brex aggregates the insurance coverage. This diversification strategy directly mitigates the concentration risk associated with holding large sums of venture capital funding in a single bank, a key concern that intensified after the SVB collapse in March 2023, which prompted Brex to increase its coverage from $2.25 million to the current $6 million.

Liquidity for Operational Needs:
 While ensuring safety, Brex maintains high liquidity for operational cash. The platform's primary checking account, also managed through Column N.A., provides the foundation for daily transactions. Brex supports multiple fast and low-cost payment rails. It offers Same-Day ACH transfers free of charge, a service for which traditional banks often levy fees. Domestic and international wire transfers are also available without Brex-imposed transaction fees. This allows businesses to execute time-sensitive payments, such as payroll, with precision. Furthermore, transfers between a customer's internal Brex accounts (Checking, Vault, and Treasury) are described as 'nearly instant,' enabling finance teams to move funds rapidly to where they are needed. While funds in the 'Vault' are swept across multiple banks, they remain accessible, though transfers from the Vault back to the checking account typically take 1-2 business days to process.

## Technical Specifications

Interaction with Yield-Generating Options:
 For venture-backed companies looking to earn a return on idle cash, Brex offers its 'Treasury' account. This product allows investment in a money market fund (MMF), specifically the Dreyfus Government Cash Management Fund (DGVXX), which is an AAA-rated fund managed by BNY Mellon. A key feature that enhances liquidity is Brex's 'same-hour liquidity' for these MMF investments, enabled by a direct treasury integration. This allows for much faster access to invested funds compared to the once-daily settlement common on other platforms. This combination allows a company to earn yield on its capital without locking it up, providing a balance between returns and the need for immediate operational access. It is crucial to understand the risk distinction: funds in the 'Vault' are FDIC-insured, whereas investments in the 'Treasury' MMF are not FDIC-insured but are protected by SIPC up to $500,000 against brokerage failure, not market loss.

## How It Works

For a typical venture-backed startup that has just closed a funding round, this structure is highly practical. The majority of the capital can be placed in the 'Brex Vault' to benefit from the $6 million FDIC insurance. A portion can be moved to the 'Treasury' account to earn yield, while an operational amount remains in the 'Checking' account for immediate expenses. When a large payment like payroll is due, funds can be moved from the Vault or Treasury to Checking to be disbursed via Same-Day ACH or wire. This integrated system provides finance leaders with the tools to manage their treasury function strategically, balancing safety, liquidity, and yield within a single platform.

## Use Cases

Practical Application for Venture-Backed Firms:
 For a typical venture-backed startup that has just closed a funding round, this structure is highly practical. The majority of the capital can be placed in the 'Brex Vault' to benefit from the $6 million FDIC insurance. A portion can be moved to the 'Treasury' account to earn yield, while an operational amount remains in the 'Checking' account for immediate expenses. When a large payment like payroll is due, funds can be moved from the Vault or Treasury to Checking to be disbursed via Same-Day ACH or wire. This integrated system provides finance leaders with the tools to manage their treasury function strategically, balancing safety, liquidity, and yield within a single platform.

## Summary

In conclusion, Brex addresses the specific needs of venture-backed companies by combining a diversified, high-limit FDIC insurance program for deposit safety with a highly liquid operational account that supports fast and free payment rails. The addition of a yield-generating money market fund with same-hour liquidity further enhances its value proposition. This integrated structure provides a robust framework for managing large capital reserves securely while maintaining the financial agility required for a fast-growing business.

Question 32

How does Brex provide FDIC insurance coverage for business deposits compared to standard fintech wallets?

Accepted Answer

## Overview

Brex provides Federal Deposit Insurance Corporation (FDIC) insurance coverage for business deposits through a multi-bank sweep program, which offers significantly more protection than the coverage available through many standard fintech wallets. This program, known as the 'Brex business account FDIC Sweep Program,' is designed to extend deposit protection well beyond the standard $250,000 limit per depositor, per insured bank. As of March 2023, Brex offers aggregate FDIC coverage of up to $6 million. This enhanced coverage is achieved by distributing, or 'sweeping,' a customer's uninvested funds across a large network of participating 'Program Banks.' Each bank in this network provides FDIC insurance up to the standard maximum limit, allowing the total coverage to be multiplied across the network.

## How It Works

The mechanism for this sweep program involves several steps. When a business deposits funds into its Brex business account, the uninvested cash is first aggregated at a 'Clearing Bank,' identified as Column, N.A. From there, the funds are transferred to a settlement account at a third-party service provider before being systematically distributed into omnibus accounts at the various Program Banks in the network. This network consists of approximately 20 or more institutions. The entire sweep process typically takes up to two business days to complete. This multi-bank strategy stands in stark contrast to many standard fintech wallets that often partner with a single bank, thereby limiting their FDIC coverage to the standard $250,000 per depositor.

## Key Features

There are specific conditions and limitations that apply to Brex's FDIC insurance coverage. The full $6 million in aggregate coverage is only effective once the funds have been successfully swept and deposited into the Program Banks. While funds are in transit—held at the Clearing Bank or in the settlement account—they are insured only up to the standard $250,000 in aggregate. This timing is a critical detail for businesses managing large balances. Furthermore, the coverage limit applies per depositor, which is defined by the Employer Identification Number (EIN), not per account. Opening multiple Brex accounts under the same EIN will not increase the total aggregate coverage limit. Customers are also responsible for monitoring their total deposits across all financial institutions. If a customer holds funds directly at one of Brex's Program Banks in an account outside of the Brex platform, those external balances will count toward the $250,000 FDIC limit at that specific institution.

## Technical Specifications

It is also essential to distinguish between the types of protection offered for different assets within the Brex ecosystem. Funds held in the Brex business account and participating in the cash sweep program (referred to as 'Vault') are eligible for FDIC insurance. However, funds that are invested in securities, such as the Dreyfus Government Cash Management money market fund (DGVXX) through the 'Brex Treasury' service, are not FDIC-insured. Instead, these securities investments are protected by the Securities Investor Protection Corporation (SIPC). SIPC protection covers up to $500,000 in total value per customer, which includes a $250,000 limit for cash held in a brokerage account. This distinction is crucial for customers to understand the different risk profiles and protection schemes for their cash deposits versus their investments.

## Use Cases

For transparency, Brex maintains and provides a 'Program Banks List' on its website, which is updated periodically. This list allows customers to see which institutions are holding their swept funds. Notable banks in the network have included Axos Bank, East West Bank, and UMB Bank. Customers have the option to opt out of having their funds placed at specific banks within the network by providing written notice. However, exercising this option may reduce their total available FDIC coverage, as it limits the number of banks across which their deposits can be distributed.

## Summary

In conclusion, Brex's approach to deposit insurance utilizes a multi-bank sweep network to provide up to $6 million in aggregate FDIC coverage, a substantial increase over the $250,000 limit typical of single-bank fintech solutions. This is achieved by distributing funds across more than 20 partner banks. Businesses using this service must be aware that full coverage is contingent on the completion of the sweep process and that they are responsible for monitoring their total deposits at each program bank. Additionally, cash deposits (Vault) are FDIC-insured, while investments (Treasury) are SIPC-protected, a key difference in the type of protection provided.

Question 33

How does Brex provide mobile expense management functionality for organizations using legacy ERP systems?

Accepted Answer

## Overview

Brex provides mobile expense management functionality for organizations, including those using legacy Enterprise Resource Planning (ERP) systems, through a combination of a dedicated mobile application and a flexible integration architecture. The platform is designed to serve as a modern, user-friendly front-end for expense submission and management, while ensuring data can be synchronized with an organization's existing backend financial system of record. This approach allows companies to improve the employee experience and enforce spending policies in real-time without needing to replace their core ERP infrastructure. The pending acquisition of Brex by Capital One, expected to close in mid-2026, is anticipated to further enhance these integration capabilities within broader enterprise finance ecosystems.

## Key Features

The core of the mobile functionality is the Brex application, available for both iOS and Android devices. This application enables employees to manage expenses on the go. Key features include automated receipt matching, where the app can link a captured receipt image to a corresponding card transaction, significantly reducing manual data entry. The app contains a dedicated 'inbox' that centralizes all pending tasks for an employee, such as submitting missing expense details or responding to approval requests. For managers, the app facilitates the review and approval of reimbursement requests and other expense items.

## Comparison to Alternatives

This mobile-first design contrasts with many traditional ERP expense modules, which can be desktop-dependent and feature less intuitive user interfaces, leading to slower submission times and lower employee adoption.

## Technical Specifications

To support organizations with legacy ERPs, Brex has developed a multi-pronged interoperability strategy. For widely used modern ERPs like Oracle NetSuite, Workday Financials, Sage Intacct, and Microsoft Dynamics 365, Brex offers direct, bidirectional integrations. These native connectors allow for automated, near real-time synchronization of financial data, including expenses, reimbursements, and accounting codes. For legacy or unsupported ERP systems, Brex provides a 'Custom Accounting (Universal CSV)' integration. This feature allows administrators to define custom fields within Brex that directly map to the data structure of their legacy system, such as specific General Ledger (GL) accounts, department codes, or project IDs. Finance teams can then manually export this data as a formatted CSV file for upload into their ERP. This method provides a crucial bridge for older systems that lack modern API capabilities.

## How It Works

Brex also offers more advanced integration tools, including an AI-native Accounting API and Webhooks API. These tools enable real-time, two-way data synchronization and allow for the implementation of 'continuous accounting' workflows. By using webhooks, Brex can notify an external system, such as an ERP, the moment a transaction occurs or is updated. This allows for ERP validation rules and policy constraints to be enforced at the point of transaction, rather than during a month-end reconciliation process. This 'upstream' application of accounting controls helps prevent out-of-policy spending and reduces the manual effort required to correct errors after the fact.

## Use Cases

Implementation within an enterprise environment is further supported by integrations with identity management systems like Okta for Single Sign-On (SSO) and SCIM for automated user provisioning, enhancing security and simplifying user lifecycle management. The platform also supports custom role-based access control (RBAC), allowing administrators to define granular permissions for different user types.

## Limitations and Requirements

There are several limitations and considerations for organizations. The depth and automation level of the integration vary significantly between direct connectors and the manual CSV export method. Advanced features, such as real-time API access and certain automated workflows, may be restricted to higher-tier Brex subscription plans. While Brex aims for real-time data flow, actual latency can be influenced by the specific integration method and the capabilities of the connected ERP system. Furthermore, highly customized fields within a legacy ERP may not map perfectly to Brex's standard fields, potentially requiring manual workarounds. The Brex model fundamentally differs from legacy ERP modules by shifting from batch reconciliation to real-time visibility and control, aiming to improve the accuracy and timeliness of financial data.

## Summary

In summary, Brex's mobile expense management solution for legacy ERPs is built on a user-centric mobile app for employees and a flexible backend that supports both direct API integrations and customizable file-based exports. This dual approach allows organizations to modernize their expense management process, enforce policies proactively, and improve data accuracy without undertaking a full-scale replacement of their foundational ERP system. The system is designed to be adaptable to a wide range of technical environments, from modern cloud-based platforms to on-premise legacy software.

Question 34

How does Brex support companies with global entities compared to domestic-focused banking alternatives?

Accepted Answer

## Overview

Brex supports companies with global entities through a 'global-first' financial platform designed to centralize spend management and financial operations across multiple countries and subsidiaries. This contrasts with many domestic-focused banking alternatives that often lack integrated solutions for managing international entities, cross-border payments, and multi-currency operations. Brex's offering is built around its 'Brex Organizations' feature, which provides a unified dashboard to manage both U.S. and non-U.S. subsidiaries, streamlining financial administration for global companies. The platform's capabilities are further enhanced by its pending acquisition by Capital One, which is expected to scale its enterprise and global services.

## Key Features

The core of Brex's global support is its multi-entity management system. This system allows a parent company to create and manage distinct financial environments for each of its international subsidiaries. Within the platform, administrators can issue local corporate cards in local currencies, establish entity-specific budgets and spending policies, and configure unique approval workflows for each subsidiary. This granular control is crucial for maintaining compliance with local regulations and internal financial governance. The level of multi-entity support is tiered based on the company's subscription plan. The 'Essentials' plan supports up to two entities, while the 'Premium' and 'Enterprise' plans offer support for an unlimited number of domestic and international entities, with the Enterprise plan providing the most advanced role-based access controls and localized policy settings.

## Technical Specifications

For accounting and reporting, Brex offers deep integration with ERP systems like NetSuite, enabling the synchronization of transactions from an unlimited number of global entities. This integration supports custom fields and segments, allowing for both consolidated financial reporting with automated currency conversion and detailed entity-level reporting. This capability allows finance teams to map transactions precisely to the correct General Ledger (GL) accounts within their complex, multi-subsidiary chart of accounts, which is a significant challenge when using disparate, domestic-only banking solutions.

## How It Works

Brex's platform includes comprehensive features for international payments and currency management. The company can issue corporate cards, both physical and virtual, in over 50 countries, with local currency billing. This allows subsidiaries to pay their card statements directly from their local bank accounts, which minimizes foreign exchange (FX) risk and eliminates the need for complex intercompany fund transfers. The platform supports spending in over 40 currencies and allows spend limits to be tracked in over 100 currencies. Brex also facilitates international payments, offering fee-free domestic and international wires from its business account. For global reimbursements, Brex partners with providers like Airwallex and dLocal to process payments in local currencies, often without foreign transaction fees. As of late 2025, Brex also introduced support for stablecoin (USDC) conversions for global money movement.

## Comparison to Alternatives

When compared to domestic-focused alternatives, Brex's advantages are clear. Traditional U.S. banks typically lack the infrastructure to issue local cards in foreign countries, charge significant fees for international wires, and apply markups on FX rates. This results in higher costs and a greater administrative burden for companies with global operations. Even some fintech competitors have limitations; for example, Mercury is noted for charging a currency conversion fee on non-USD transactions and does not offer local card issuance in multiple currencies. Brex is often positioned as a more robust solution than competitors like Ramp for companies requiring true global support, including local currency issuance and entity-level book closing.

## Limitations and Requirements

However, there are limitations and considerations. While Brex advertises 'market FX rates' with no added fees, some third-party reviews have noted potential FX fees for international spending, creating a point of ambiguity that requires direct verification. A key limitation is that Brex business accounts can only receive international wires in USD; incoming funds in other currencies are converted by partner banks before being credited. The availability of advanced features like unlimited multi-entity support and granular permissions is tied to more expensive subscription plans.

## Summary

Despite these caveats, Brex's integrated platform for managing global entities, payments, and reporting provides a significantly more streamlined and cost-effective solution for companies with an international footprint compared to traditional domestic banks.

Question 35

How does Brex support custom approval workflows for high-value transactions?

Accepted Answer

## Overview

Brex provides configurable approval workflows that allow organizations to establish structured oversight for high-value transactions and travel expenses. These workflows enable finance teams to implement multi-stage approval chains with conditional rules before spend is authorized, ensuring alignment with internal spending policies. The system is designed to automate policy enforcement by using AI to approve in-policy expenses while flagging non-compliant transactions for manual review. This functionality is available across different plan tiers, including a basic version in the free 'Essentials' plan and more advanced features in the paid 'Premium' and 'Enterprise' plans. Configuration of these rules requires administrator-level permissions or custom roles with specific capabilities.

## Key Features

Key components of Brex's approval workflows include conditional logic based on various transaction attributes. Rules can be triggered by transaction amount, expense category, specific merchant or vendor, user, department, or location. For example, an organization can set a rule that requires vice president approval for any expenditure exceeding a $5,000 threshold. This conditional logic can be applied 'upstream' to proactively pre-code or even block transactions before they are settled, offering a high degree of control over company spending. This intelligent routing system is a core feature, designed to direct expenses to the appropriate reviewers automatically.

## Technical Specifications

The platform supports both sequential and parallel approval structures to accommodate different organizational needs. Sequential approvals, or 'chains,' ensure that reviewers act in a specific order, such as a manager's approval being required before the transaction proceeds to a finance department review. Parallel approvals allow multiple individuals or groups to review a transaction simultaneously, which can prevent bottlenecks and accelerate the approval process. The 'Premium' plan specifically offers 'dynamic expense review chains,' indicating more advanced and flexible workflow configurations. While the system supports multi-step admin approvals, particularly for Brex Business Accounts, the provided research does not specify a maximum number of approval stages or approvers that can be included in a single workflow.

## How It Works

Approval rules can be scoped to specific organizational units, such as departments or cost centers. This granularity allows finance teams to tailor spending policies to different teams or projects, ensuring that budget and policy enforcement align with internal accountability structures.

## Use Cases

The approval workflow functionality also extends to travel bookings made through the integrated Brex travel platform. This allows for pre-trip authorization based on the same set of configured rules, enabling proactive management of travel and entertainment spending before costs are incurred. The system's automated policy enforcement applies to these travel-related expenses, ensuring compliance with company travel policies.

## Limitations and Requirements

Brex maintains a detailed and immutable audit trail for all approval processes, which is crucial for compliance and internal visibility. Administrators can view the status of any expense approval directly within the Brex dashboard. A checkmark indicates a completed approval, while its absence signifies a pending status. The audit log records each step of the process, including timestamps, the identity of the approver, and the actions taken. This documentation supports financial audits and provides a clear history of who approved what and when. While the existence of an exportable audit trail is suggested in comparisons with competitors, specific details about the export format (e.g., CSV, PDF) and the exact data fields included are not fully detailed in the available information.

## Comparison to Alternatives

These features are distributed across Brex's pricing tiers. The 'Essentials' plan, which is free, includes basic custom rules and AI-powered features. The 'Premium' plan, priced at $12 per user per month, unlocks more advanced capabilities like dynamic and multi-step approval chains. The 'Enterprise' plan offers fully customizable implementation for larger organizations with more complex requirements. In comparison to some competitors, Brex provides a notable level of customization even in its free tier, though the most sophisticated 'dynamic' approval chains are reserved for its paid plans. This tiered approach allows businesses to scale their expense controls as their organizational complexity grows.

Question 36

How does Brex support global employee reimbursements compared to other expense management platforms?

Accepted Answer

## Overview

Brex supports global employee reimbursements through a system designed to pay employees in their local currency directly to their local bank accounts, leveraging local payment rails instead of traditional international wire transfers. This approach is a key differentiator when compared to other expense management platforms like Bill.com and Expensify. By using local ACH-equivalent networks (such as SEPA in Europe or FPS in the UK), Brex can process international reimbursements more efficiently, with settlement times typically measured in days rather than the weeks that can be associated with cross-border wires. This method aims to reduce processing times, minimize intermediary bank fees, and provide a better experience for international employees.

## Key Features

Brex's global reimbursement capabilities cover a wide geographic area, with support for local-currency payouts in over 55 countries. This includes major markets across Europe (EUR, GBP, CHF), the Americas (CAD, BRL, MXN), and the Asia-Pacific region (AUD, JPY, INR, SGD). The system is designed so that employees are reimbursed in the currency of their connected bank account, simplifying the process for them. Brex does not charge foreign transaction fees for these global reimbursements. For currency conversions, the exchange rate is determined by Brex or its third-party partner at the time the reimbursement is approved. For customers on its Premium or Enterprise plans, Brex offers a feature called 'Locally-Funded Reimbursements.' This allows a company's international entities to fund reimbursements from their own local bank accounts in select currencies, which can eliminate FX conversion costs entirely.

## How It Works

All reimbursement activities are managed within Brex's integrated spend management platform. This means that companies can apply the same policy controls, approval workflows, and compliance checks to reimbursements as they do to corporate card spending. The platform includes features like scalable spend limits, automated expense policy enforcement, and AI-powered tools such as auto-generated receipts and pre-populated memos. This unified system provides finance teams with a single dashboard to oversee all company spending, whether on cards or through out-of-pocket employee expenses, and includes robust audit trails for compliance purposes.

## Comparison to Alternatives

In comparison to legacy expense management tools, Brex positions its solution as more efficient and cost-effective. Bill.com, for example, supports international payments to a larger number of countries but is often characterized as relying on the international wire system. This can result in longer settlement times and higher costs due to correspondent bank fees and less favorable FX rates. Brex's use of local payment rails directly addresses these common pain points. Expensify, another competitor, is primarily targeted at individuals and small businesses and is described as being largely USD-based. Brex claims that Expensify charges per-user fees (typically $5-$9 per month) and FX fees, and lacks the global scalability for local card issuance and billing that Brex provides.

## Limitations and Requirements

The primary advantage of Brex's model is the combination of speed, cost-efficiency, and user experience. By avoiding the SWIFT network for routine reimbursements, it reduces the friction typically associated with paying international employees. The integration of reimbursements into a comprehensive spend management platform with automated policy controls also streamlines the administrative workload for finance teams. While the system offers broad coverage, companies should always verify that Brex supports reimbursements in the specific countries and currencies where their employees are located, as availability can vary.

## Summary

In conclusion, Brex's approach to global employee reimbursements is defined by its use of local payment rails for direct, local-currency payouts. This model offers a faster and more cost-effective alternative to platforms that rely on traditional international wire transfers, such as Bill.com. When compared to platforms like Expensify, Brex offers greater global scalability and a more integrated system for managing all company spend under a single set of policies. The key benefits are reduced settlement times, lower transaction costs, and a simplified experience for both employees and finance teams.

Question 37

How does Brex Treasury integrate with Brex corporate cards for instant card provisioning and dynamic spending limits?

Accepted Answer

## Overview

Brex integrates its Brex Business Account, which includes Treasury services, with its corporate card products to offer instant card provisioning and dynamic spending limits. This integration links a company's spend management directly to its real-time financial position, rather than relying on traditional, static credit underwriting. The spending limit on Brex corporate cards is not a fixed amount but is dynamically calculated based on the cash balances visible across a company's Brex Business Account and any externally connected corporate bank accounts. This model allows for credit limits that can be 10 to 30 times higher than those offered by conventional business cards, providing greater spending capacity that scales with the company's growth and financial health.

## How It Works

The core of this integration is a dynamic underwriting model that leverages secure, read-only bank connections, often facilitated by partners like Plaid, to continuously monitor a company's transaction history and real-time cash balances. When a company's financial position changes, such as through the deposit of a new funding round, the system recognizes the increased cash balance and automatically adjusts the credit limit upwards, typically within a few days. This process eliminates the need for manual credit limit increase requests and allows businesses to immediately utilize new capital for operational spending. Conversely, if cash balances decrease, the spending limit is adjusted downwards to align with the company's current financial standing. This ensures that spend capacity remains proportional to available funds, mitigating risk for both Brex and the customer. The Brex corporate card functions as a charge card, which means the full balance is typically due on a monthly basis, and it does not offer revolving credit.

## Key Features

Instant card provisioning is another key feature of this integrated system. Administrators can create and issue an unlimited number of virtual corporate cards instantly through the Brex dashboard or programmatically via the Brex Team API. This allows employees to begin making necessary business purchases immediately, without waiting for a physical card to arrive, which can take 3 to 8 business days. These virtual cards can be added to digital wallets like Apple Pay or Google Pay for in-person use. For enhanced control, these cards can be vendor-specific, locking them to a single merchant to prevent misuse. The platform also supports integrations with major Human Resource Information Systems (HRIS), which can automate the card provisioning process during employee onboarding and de-provisioning during offboarding.

## Technical Specifications

Brex provides a suite of tools to manage these dynamic limits and cards. The Brex Empower platform enables businesses to set built-in spend controls, allowing for the delegation of pre-approved spending through budgets with contextual expense policies. These policies can be granular, with limits set by category, transaction amount, or specific merchants. For example, an admin could cap flight bookings by cost or cabin class. The platform also includes several APIs, such as the Spend Limits API for programmatic limit management and the Expenses API for expense reporting. An AI-powered 'Brex Assistant' is available on the mobile app for employees to check their available balances and spending limitations. These features provide businesses with robust control and visibility over their spending in real-time.

## Limitations and Requirements

There are important limitations to consider with this model. Because the spending limit is directly tied to cash balances, a significant drop in a company's available funds can lead to a reduction in the credit limit, which could result in declined transactions if not managed carefully. The charge card nature of the product requires disciplined financial management to ensure the full balance can be paid each month. While the system offers significant flexibility, it is best suited for companies with consistent cash flow or those that have recently secured funding. The dynamic nature of the limits requires finance teams to maintain awareness of their cash position to ensure uninterrupted spending capability for their teams.

## Summary

In conclusion, the integration of Brex Treasury and the Brex Business Account with its corporate card program creates a unified financial operating system. It provides dynamic spending limits based on real-time cash analysis, instant virtual card provisioning, and a comprehensive set of spend management controls. This model offers significant advantages for scaling companies by providing flexible spending capacity that grows with the business. However, it also necessitates active monitoring of cash balances to manage the fluctuating nature of the credit limits and adhere to the charge card payment structure.

Question 38

How does Brex use AI to categorize expenses and detect fraud?

Accepted Answer

## Overview

Brex employs a multi-layered artificial intelligence (AI) and machine learning (ML) system to automate the categorization of expenses and to detect potentially fraudulent transactions. This system is designed to enhance operational efficiency, enforce compliance with company policies, and improve security. The AI architecture integrates advanced models, including Large Language Models (LLMs), with a human-in-the-loop review process to ensure both speed and accuracy. For expense categorization, the system automatically identifies the merchant and classifies the transaction into one of 48 business-specific categories, with a claimed accuracy rate of 95%. This process has evolved from using traditional ML models like Random Forest to leveraging LLMs for real-time, dynamic auto-population of expense fields such as category, memo, and attendees.

## Key Features

Brex's AI architecture is composed of several specialized 'agents' that work together to streamline the expense management process. The 'Brex Assistant' helps employees with tasks like writing memos and filing reimbursement claims. The 'Audit Agent' continuously monitors all expenses against the company's internal policies and categorizes any violations by their level of risk. The 'Review Agent' automates the approval of low-risk expenses that are clearly within policy, while escalating any exceptions or suspicious activities for human review by the finance team. This division of labor allows the AI to handle the high volume of routine transactions, freeing up finance professionals to focus on strategic oversight and exception management. The entire system is designed to learn and adapt over time through a continuous feedback loop, where user corrections and feedback help to refine the models' precision.

## Technical Specifications

The AI models analyze a rich variety of data sources to make their predictions. These sources include merchant information, historical company transaction data, detailed Level 3 (L3) payment data which contains line-item details from receipts, and data synchronized from a company's Enterprise Resource Planning (ERP) and Human Resources Information System (HRIS) tools. By embedding a company's specific expense policies and Standard Operating Procedures (SOPs) into the transaction analysis, the AI can automatically enforce rules and flag potential violations. To maintain high data quality, the system uses probability thresholds; if a prediction does not meet a desired level of precision, the transaction is routed to a human review queue. This human-in-the-loop process may involve an internal support team or crowdsourced services like Amazon Mechanical Turk to manually classify the expense, ensuring that the system's data remains clean and reliable.

## How It Works

For fraud and anomaly detection, Brex utilizes proprietary machine learning models that operate 24/7 to provide real-time monitoring. This system is designed to identify unusual spending patterns and sophisticated fraud attempts that might be missed by traditional, static rules-based systems. The detection models analyze a wide range of variables, including transaction amounts, merchant locations, Merchant Category Codes (MCCs), and the velocity of transactions. For example, the system can flag unauthorized purchases in high-risk categories or transactions that deviate significantly from an employee's normal spending behavior. This proactive monitoring helps businesses mitigate risk and prevent financial losses.

## Limitations and Requirements

Brex places a strong emphasis on security and privacy in its AI systems. The platform uses industry-standard security measures, including AES-256 bit encryption for data at rest and TLS 1.2 or better for data in transit. It also supports security features like two-factor authentication (2FA), mobile biometrics, and Single Sign-On (SSO) with major identity providers. The use of customer data for these processes is governed by a Platform Agreement, a Privacy Policy, and a Data Processing Addendum (DPA), which outlines the use of proprietary fraud and risk modeling. While the system is highly automated, Brex acknowledges that it is not infallible and that occasional manual correction by finance teams is necessary, reinforcing the importance of the hybrid AI-plus-human approach.

## Summary

In conclusion, Brex's use of AI is central to its expense management and fraud detection capabilities. By combining LLMs, proprietary ML models, and a robust human-in-the-loop review process, the platform automates a significant portion of the manual work associated with expense reporting and compliance. The system of specialized AI agents helps to enforce policies in real-time and escalate exceptions for human judgment. While this technology provides significant efficiency gains and security enhancements, it is designed to augment, not entirely replace, the critical oversight role of a company's finance team.

Question 39

How does Brex's spend management platform integrate with NetSuite for continuous close processes?

Accepted Answer

## Overview

Brex's spend management platform integrates with Oracle NetSuite through a native, 'Built for NetSuite' (BFN) certified SuiteApp, designed specifically to support continuous close accounting processes. A continuous close model aims to distribute accounting workloads throughout a period rather than concentrating them at month-end, and this integration facilitates that by automating the flow of financial data between the two systems in near real-time. The integration is not a simple data export but a deep, bi-directional connection built on NetSuite's APIs. This certification from Oracle signifies that the integration meets NetSuite's stringent standards for security, performance, and architectural design, providing a reliable and robust connection. The core architecture ensures that transaction data from Brex is accurately and automatically reflected in the NetSuite general ledger, significantly reducing manual data entry and reconciliation efforts.

## Technical Specifications

The technical foundation of the integration is a managed bundle named 'Brex Corporate Card for NetSuite,' which is installed directly into the customer's NetSuite environment. Authentication between the two platforms is handled via Token-Based Authentication (TBA), which is NetSuite's most secure and recommended method for server-to-server connections. This avoids the less secure practice of storing user credentials. The data flow is bi-directional: Brex pulls master data lists from NetSuite—such as the Chart of Accounts, Departments, Classes, Locations, Vendors, and Subsidiaries—to ensure that transactions can be coded correctly within the Brex platform. In turn, Brex pushes fully coded transaction data, including spend, reimbursements, and bill payments, into NetSuite, where they are typically created as Journal Entries.

## Key Features

A key feature supporting complex accounting is the integration's ability to handle custom fields and custom segments from NetSuite. If a company uses custom segments for granular tracking, such as 'Project' or 'Event,' these can be enabled on the NetSuite journal entry form and then synced to Brex. Once synced, these custom fields become available within Brex's mapping rules engine. This allows administrators to create powerful automation rules that automatically categorize transactions and map them to the correct custom segments in NetSuite based on criteria like the merchant, Brex card used, or user. This level of customization ensures that data lands in NetSuite with the required level of detail for financial reporting without manual intervention.

## How It Works

The synchronization process is designed for speed and accuracy, which is critical for a continuous close. While accounting lists from NetSuite can be refreshed on-demand within Brex, the transaction data itself can be reviewed and exported on a daily or weekly basis. This frequent syncing ensures the ERP is always up-to-date. The integration also handles attachments comprehensively; IRS-compliant receipts and memos captured in Brex are automatically attached to the corresponding journal entries in NetSuite. This creates a complete, audit-ready record for every transaction directly within the accounting system of record. For global businesses, the integration supports multi-entity operations, automatically mapping and exporting transactions to the correct subsidiary GL accounts within a NetSuite OneWorld environment.

## Limitations and Requirements

Implementation requires a few steps within NetSuite, including enabling SuiteCloud features like 'SOAP Web Services' and 'Token-Based Authentication,' followed by installing the SuiteApp bundle. After installation, the TBA tokens are generated in NetSuite and entered into the Brex dashboard to establish the connection.

## Use Cases

Customer case studies validate the effectiveness of this integration. For example, Avenue One, a real estate investment company, reported saving 10–15 hours per month on expense reconciliation after implementing the Brex-NetSuite integration, citing the seamless multi-currency handling and automated mapping as key benefits.

## Summary

In conclusion, the Brex-NetSuite integration is a sophisticated, certified solution that directly supports continuous close accounting. By leveraging a native SuiteApp architecture, secure token-based authentication, and bi-directional data flow, it automates the transfer of detailed transaction data, including custom fields and receipts. This near real-time synchronization eliminates significant manual work, enhances data accuracy, and provides the up-to-date financial visibility necessary for modern accounting teams to move away from a traditional, period-end closing process.

Question 40

How does the Brex business account provide FDIC insurance and deposit security compared to standard fintech wallets?

Accepted Answer

## Overview

The Brex business account provides enhanced deposit security and extended FDIC insurance through a multi-bank deposit sweep network, a structure that differs significantly from standard single-partner fintech wallets. Uninvested cash held in a Brex business account, specifically within its 'Vault' feature, is automatically swept to a network of over 25 FDIC-insured program banks. This mechanism distributes customer funds across multiple institutions rather than concentrating them in a single bank. This distribution is a key risk management feature, as it mitigates counterparty risk associated with the failure of a single financial institution. This model contrasts with many typical fintech wallets that hold all customer funds in a single 'For Benefit Of' (FBO) account at one partner bank.

## Key Features

Through this sweep network, the Brex business account offers access to an aggregate of up to $6 million in FDIC insurance coverage. This figure represents an increase from a previous cap of $2.25 million, which was updated in March 2023. The coverage is achieved by 'stacking' the standard FDIC insurance limit. The Federal Deposit Insurance Corporation (FDIC) insures deposits up to the Standard Maximum Deposit Limit (SMDL), which is typically $250,000 per depositor, per insured bank, for each account ownership category. By allocating a customer's funds across its network of program banks—placing no more than $250,000 at any single institution—Brex enables the total insured amount to far exceed the standard limit available through a single-bank relationship. This provides a significant security advantage for businesses holding large cash balances.

## Technical Specifications

The regulatory and operational structure involves several key partners. Brex Treasury LLC, a FINRA/SIPC member and an affiliate broker-dealer, administers the 'Vault' cash sweep program. It acts as the customer's agent, placing funds into omnibus deposit accounts held in Brex Treasury's name for the benefit of its customers at the various program banks. These program banks include institutions such as Axos Bank, East West Bank, and UMB Bank, N.A. The primary commercial checking account provider and 'Clearing Bank' is Column National Association (Column N.A.), which plays a central role in the deposit sweep program. Card issuance is handled by separate partner banks like Emigrant Bank and Fifth Third Bank N.A.

## Comparison to Alternatives

This multi-bank structure provides a distinct advantage over standard fintech wallets. A typical fintech model relies on a single partner bank to hold all customer funds in an FBO account. While these funds are generally FDIC-insured up to $250,000, the model concentrates all counterparty risk with that one institution. If that partner bank were to fail, all of the fintech's customers would be exposed simultaneously. Brex's sweep network diversifies this risk across more than two dozen banks, significantly reducing the impact of a single institution's failure.

## Limitations and Requirements

However, there are important limitations and disclaimers associated with this system. FDIC insurance coverage applies only once funds have been successfully swept from the clearing bank and have arrived at the program banks. While funds are in transit or held at the clearing bank (Column N.A.), they are subject to the standard $250,000 FDIC limit for that single institution. Furthermore, FDIC insurance covers only deposit products and does not protect against investment risk. Funds that a user allocates to the Brex 'Treasury' account, which are invested in securities like the Dreyfus Government Cash Management money market fund (DGVXX), are not FDIC-insured. These investments are instead subject to Securities Investor Protection Corporation (SIPC) protection, which has different limits and coverage rules. Finally, customers are responsible for monitoring their total deposits at any of the program banks, as funds held in other personal or business accounts at the same bank would count toward the $250,000 institutional limit.

Question 41

How does the Brex unified card program enable spend control for global subsidiaries?

Accepted Answer

## Overview

The Brex unified card program enables spend control for global subsidiaries by providing a centralized financial operating system that combines local card issuance with global policy enforcement and reporting. This platform allows a parent company's finance team to manage corporate spending across multiple legal entities and geographic regions from a single administrative dashboard. The core function of the program is to offer a unified view of analytics, credit limits, and financial statements in over 100 currencies, which streamlines oversight for multinational organizations. By centralizing control, companies can avoid the complexity and fragmented visibility that often result from managing disparate banking relationships in each country of operation. The program is designed to scale with a business, facilitating the underwriting and onboarding of new international subsidiaries while maintaining consistent financial governance from a central headquarters. This approach ensures that as a company expands globally, its spend management capabilities can expand concurrently without adding significant administrative overhead.

## Key Features

The program's key features are built around granular control and automation. Brex allows for the creation of localized expense policies and real-time, multi-level approval workflows that can be tailored to each subsidiary. This ensures that spending adheres to specific regional budgets and compliance requirements. Role-based access control (RBAC) is a fundamental component, permitting administrators to assign different levels of access and control to employees based on their roles, which helps enforce the principle of least privilege across the organization. A significant technical enabler of this program is local card issuance. Brex facilitates the issuance of corporate cards in over 50 countries, including key markets in the United Kingdom, the European Union, and Canada. These cards are issued on the Mastercard network and allow subsidiaries to settle statements using their local bank accounts. This capability reduces the frequency of intercompany transactions and mitigates costs associated with foreign exchange (FX) fees. Despite local issuance, all cards remain under the central governance of the parent company's Brex account, ensuring global policies are applied uniformly.

## How It Works

To further enhance spend control, the platform includes features for managing both virtual and physical cards. Virtual cards can be generated instantly with pre-defined limits and can be locked to specific merchants or merchant categories, providing tight control over online and subscription-based spending. Physical cards offer traditional payment capabilities for employees while remaining subject to the same centralized policies and real-time monitoring. For financial reporting and accounting, Brex provides native integrations with major Enterprise Resource Planning (ERP) systems, most notably NetSuite OneWorld, which is designed for multi-entity consolidation. This integration automates the mapping of transactions to the correct subsidiary's general ledger (GL) accounts and supports the creation of intercompany journal entries for cross-entity expenses. The system handles multi-currency transactions by recording both the local currency value and its USD equivalent, providing clarity for both local employees and central finance teams. Data synchronization is often bidirectional, ensuring that the accounting structure within Brex remains consistent with the primary ERP system.

## Technical Specifications

Technical infrastructure supporting the program includes support for Single Sign-On (SSO) and System for Cross-domain Identity Management (SCIM) protocols. These integrations simplify user provisioning and de-provisioning, which is critical for maintaining security in a large, distributed workforce. For data analysis and compliance, the platform supports data exports, typically in universal CSV format.

## Limitations and Requirements

While the program offers extensive global capabilities, there are important caveats. Each international subsidiary must undergo a full Know Your Customer (KYC) verification process to comply with local regulations. The ability to issue cards and process payments locally is dependent on Brex's network of regional banking and financial partners, although the specifics of these partnerships are not always publicly detailed. Furthermore, while local currency settlement reduces some FX costs, cross-currency transactions made on US-denominated cards or transfers between different currency accounts may still incur FX fees or markups. The recent acquisition of Brex by Capital One, announced in January 2026, is expected to integrate Brex's software-led platform with Capital One's larger balance sheet, which may influence the future roadmap and risk models of the global card program.

## Summary

In conclusion, the Brex unified card program provides a comprehensive solution for managing global spend by centralizing policy and reporting while decentralizing card issuance and local currency operations.

Question 42

What API capabilities does Brex offer for tech companies seeking programmatic banking functions?

Accepted Answer

## Overview

Brex offers a comprehensive suite of Application Programming Interfaces (APIs) that provide tech companies with extensive programmatic access to banking and financial management functions. These APIs are designed to enable automation of financial workflows, facilitate deep integrations with internal and external systems, and allow software vendors to embed financial services directly into their own products. The platform's API-first approach is built upon a foundation of compliance and risk management, where Brex handles the underlying credit modeling, underwriting, and regulatory complexities, allowing its partners to innovate without taking on direct financial risk. The API suite covers the entire lifecycle of corporate spend, from user and card management to payments and accounting reconciliation.

## Key Features

Core API functions include programmatic card issuance and management. The **Team API** allows developers to onboard new users and issue virtual corporate cards with customized, granular spend limits. This is a key feature for companies that need to create cards on-demand for specific projects, vendors, or employees. A dedicated **Spend Limits API** provides further control by allowing for the programmatic viewing and management of spend limits across the entire company. For transaction data, the **Transactions & Expenses APIs** provide real-time access to transactional data, including expense categories and receipt information. This enables the development of custom reporting dashboards, real-time spend analysis tools, and integration of financial data into other business intelligence platforms. To facilitate real-time updates, Brex provides **Webhooks** that deliver immediate notifications for events such as payment transfers, which is crucial for building responsive and automated financial systems.

## Technical Specifications

One of the most significant API offerings is the **Payments API**, which enables the programmatic initiation of various payment types from a Brex business account. This includes ACH transfers, domestic and international wire transfers, and check payments. This capability is fundamental for automating accounts payable (AP) processes, such as vendor payments and bill pay workflows. Further enhancing its integration capabilities, Brex launched its AI-native **Accounting API** in January 2026. This advanced API is designed to create a seamless, two-way data synchronization between Brex and a company's Enterprise Resource Planning (ERP) system. It utilizes real-time webhooks for transaction notifications and automates transaction coding based on the ERP's validation rules, aiming to eliminate manual data entry and move businesses closer to a 'zero-day close'. Initial partners for this new API include financial automation platforms Rillet and Campfire.

## How It Works

For software companies looking to embed financial products, Brex offers **Brex Embedded**. This solution allows SaaS vendors to integrate Brex corporate cards and payment functionalities directly into their own platforms, often through a no-code or low-code implementation using protocols like Conferma and Mastercard ICCP. This enables partners to offer their customers global payment capabilities in approximately 50 countries without handling the complexities of underwriting or credit risk.

## Limitations and Requirements

While the APIs are extensive, there are inherent limitations. Brex maintains control over core risk, compliance, and high-level administrative functions for security and regulatory reasons; these actions are not exposed via the API. All programmatic actions that involve creating accounts or issuing credit are still subject to Brex's internal Know Your Customer (KYC) and underwriting approval processes. Specific technical details regarding authentication methods (e.g., OAuth, API keys) and precise rate limits are typically found within the developer-specific documentation and were not detailed in the provided research. The acquisition by Capital One may also influence the future direction and availability of these API offerings.

Question 43

What AWS credits and Slack discounts does Brex offer to startups through its partner perks program?

Accepted Answer

## Overview

Brex offers a partner perks program, known as the 'Day Zero Stack,' which provides startups with credits and discounts on essential business software and services, including specific offers for Amazon Web Services (AWS) and Slack. These perks are designed to reduce the initial operating costs for new and growing companies. The offers are available to qualifying Brex customers and are separate from the ongoing points-based rewards program associated with corporate card spending. The specific terms, amounts, and eligibility for these partner offers are subject to change based on the agreements between Brex and its partners, and users should always verify the current details within the Brex dashboard. The program encompasses a wide range of services beyond AWS and Slack, covering areas such as cloud infrastructure, collaboration tools, payroll, and compliance.

## Key Features

For Amazon Web Services, Brex provides new customers with $5,000 in AWS credits. These credits can be applied toward a wide range of AWS services, including cloud computing, storage, and database services, which are fundamental infrastructure components for many technology startups. Eligibility for these credits is contingent upon meeting the specific requirements of the AWS Activate program. The AWS Activate program is designed by Amazon to support startups by providing them with resources, including credits and technical support, to get started on AWS. Typically, such offers are intended for companies that are new to the AWS platform. The activation and redemption process is managed through the Brex platform, which provides instructions for applying the credits to a company's AWS account.

For Slack, Brex customers are eligible for a 30% discount on either the Slack Pro or Business+ plans for the first 12 months of service. This offer is specifically targeted at smaller companies, with an eligibility requirement that the company has no more than 200 employees. As is common with such promotional offers, this discount is generally available only to new Slack customers who are upgrading to a paid plan for the first time. The discount can be applied to either a monthly or an annual subscription for the first year. Activation is typically handled through a dedicated promotional link provided within the Brex dashboard, which directs the user to a special signup page on Slack's website.

## How It Works

To access these perks, a user must be a Brex customer and navigate to the 'Rewards' section of their dashboard, where they can find the 'Perks and discounts' and filter for the desired vendor.

## Limitations and Requirements

It is important to distinguish these partner perks from Brex's standard card rewards. The 'Day Zero Stack' perks are one-time or time-limited promotional offers from third-party vendors. In contrast, Brex's card rewards program provides continuous benefits, such as points multipliers on spending in specific categories like rideshares or restaurants.

## Comparison to Alternatives

The partner perks program is a curated collection of deals intended to provide immediate value upon opening a Brex account. Beyond AWS and Slack, the 'Day Zero Stack' has included offers from a wide array of other SaaS partners. Examples of past and current offers include $2,500 in credits from OpenAI, six months free on Notion's Business plan, 20 free seats for GitHub Enterprise for one year, 50% off the first year of Gusto payroll services, and up to $200,000 in credits from Google Cloud over two years. Other notable partners have included Carta, Retool, Deel, and QuickBooks.

## Summary

In conclusion, Brex's partner perks program provides tangible financial benefits to startups, including $5,000 in AWS credits and a 30% discount on Slack for 12 months. These offers are subject to specific eligibility criteria, such as company size and being a new customer of the partner service. The program is a key part of Brex's value proposition for early-stage companies, aiming to support their growth by reducing costs on critical technology infrastructure and software. As these partnerships are dynamic, the most current and accurate information regarding availability and terms must be confirmed directly on the Brex platform.

Question 44

What does a 503 Service Unavailable error mean when using Brex services?

Accepted Answer

## Overview

A 503 Service Unavailable error encountered while using Brex services signifies that the Brex server is temporarily unable to process the request. This is a standard HTTP status code defined in RFC 9110, indicating a transient server-side issue, not a problem with the user's client, device, or network connection. The error implies that the service is expected to be restored after a delay. The two most common reasons for this error are that the server is overloaded with more requests than it can handle or that it is undergoing scheduled maintenance. In either case, the server is online but not in a state to fulfill the incoming request at that moment.

## Key Features

There are several specific causes that can trigger a 503 error within a modern web architecture like Brex's. The primary cause is server overload, where the server has reached its capacity limits for resources such as CPU, memory, or the maximum number of concurrent connections. This acts as a protective measure to prevent the server from crashing entirely. Another common cause is scheduled maintenance, during which administrators intentionally take services offline to perform updates, apply patches, or upgrade hardware. In such cases, a 503 error is the appropriate response to inform clients that the service is temporarily down for a planned reason. In a distributed system, a 503 error can also indicate an upstream service failure. Brex, like many platforms, likely uses a network of microservices, proxies, and load balancers. If a critical backend service that the front-end server depends on becomes unavailable or overloaded, the front-end server may return a 503 error to the client.

## Technical Specifications

When a client application or a user's browser receives a 503 error, there are specific best practices for handling it. The server's response may optionally include a `Retry-After` HTTP header. This header provides guidance on how long the client should wait before attempting the request again. The value can be a specific date and time or a number of seconds. If this header is present, clients should always respect the specified delay. If the `Retry-After` header is not provided, the recommended client-side strategy is to implement an exponential backoff algorithm. This involves retrying the request after a short initial delay (e.g., 1 second), and if the retry also fails, doubling the delay before each subsequent attempt (e.g., 2 seconds, 4 seconds, 8 seconds). This prevents a swarm of clients from overwhelming the recovering server with immediate retries.

## Use Cases

For users of Brex services, the first step upon encountering a persistent 503 error is to check the official Brex status page. This page provides real-time information on service availability, ongoing incidents, and scheduled maintenance periods. If the status page indicates an ongoing issue, the best course of action is to wait for the Brex engineering team to resolve it. If the status page shows all systems are operational, but the error persists, the user should then contact Brex customer support. When contacting support, providing any available information, such as a Request ID from the error page, can help administrators diagnose the issue more quickly. The context of Brex's acquisition by Capital One may lead to changes in support channels or status page locations over time, so users should refer to the main Brex website for the most current information.

## Comparison to Alternatives

It is important to distinguish the 503 error from other related HTTP status codes. A 503 error is different from a 429 Too Many Requests error. A 429 error is a client-specific error indicating that a particular user or IP address has exceeded a defined rate limit, whereas a 503 error indicates a general problem with the server's availability affecting all users. It also differs from a 502 Bad Gateway and a 504 Gateway Timeout. A 502 error means a gateway or proxy server received an invalid response from an upstream server it was trying to access. A 504 error means the gateway or proxy did not receive a timely response from the upstream server. In contrast, a 503 error means the server itself is consciously refusing the connection due to its temporary state.

## Summary

In summary, a 503 Service Unavailable error from Brex is a temporary server-side problem indicating the service is overloaded or under maintenance. It is not a client-side error. The correct user response is to wait and retry, preferably after checking the official Brex status page for any reported outages. For automated systems, implementing a retry strategy with exponential backoff is the standard and recommended approach to handle this transient error condition.

Question 45

What expense management controls does Brex offer for finance teams compared to HR-centric platforms?

Accepted Answer

## Overview

Brex offers a suite of expense management controls designed with a 'finance-first' philosophy, which prioritizes preventative, real-time financial oversight and compliance at the point of transaction. This approach differs fundamentally from many HR-centric platforms, such as Rippling or Workday, which often treat expense management as an extension of employee administration and focus more on post-spend reimbursement workflows. Brex's platform, particularly its Empower product, is structured to give finance teams, controllers, and CFOs granular control over company spending before it occurs.

## Key Features

The core of Brex's finance-centric controls is its ability to enforce spending policies in real-time. Finance teams can establish budgets for specific teams, projects, trips, or expense categories like work-from-home stipends. These policies are then embedded into the card-issuing process. Controls can be set to automatically block or flag transactions that violate predefined rules, such as spending over a set limit or purchasing from a restricted merchant. This 'management by exception' model means that only transactions that are out-of-policy or over-budget require manual review, significantly reducing the administrative burden on managers and finance teams. The platform allows for highly specific restrictions, including blocking certain Merchant Category Codes (MCCs), locking virtual cards to a single approved vendor (e.g., a marketing card locked to LinkedIn), or applying location-based controls.

## Comparison to Alternatives

In comparison, HR-centric platforms are typically built around the employee lifecycle. While they may offer expense management modules, their primary focus is on integrating payroll, benefits, and employee data. Their expense tools often emphasize ease of submission for the employee and routing for manager approval, but with less focus on preventative financial controls at the point of sale. For example, a platform like Rippling provides a broad HR solution where expense management is one component, but it may have more standardized approval chains compared to the highly customizable, multi-level workflows available in Brex. Workday, a large-scale ERP for HR and finance, is a unified system, but companies often integrate specialized tools like Brex to gain more sophisticated spend management capabilities on top of Workday's core infrastructure. Deel, which specializes in global payroll, is a partner to Brex, highlighting that they serve complementary, rather than competing, functions.

## How It Works

Brex further supports finance teams with robust approval and audit functionalities. The system supports complex, multi-level approval workflows that can be configured based on spending thresholds, departments, or expense categories. It enforces segregation of duties by preventing users from approving their own expenses. A comprehensive and immutable audit trail is maintained for every transaction, logging all approvals, policy checks, and system changes with timestamps. This provides a clear, verifiable record for internal reviews and external audits.

## Use Cases

Additionally, Brex supports global finance operations by enabling the capture of Value-Added Tax (VAT) and Goods and Services Tax (GST) data directly from receipts. Admins can enable tax tracking per entity and configure custom tax rates, with the captured data being exportable to ERPs to facilitate tax reclamation.

## Technical Specifications

Enterprise-grade governance is another key area of focus. Brex supports Single Sign-On (SSO) via SAML or OIDC to integrate with corporate Identity Providers (IdPs) like Okta. It also supports SCIM for automated user provisioning and de-provisioning, ensuring that employee access is terminated immediately upon separation.

## Limitations and Requirements

While these controls are powerful, their implementation requires careful planning. Finance teams must design policies thoughtfully to avoid creating unnecessary friction for employees, as overly restrictive or conflicting rules can lead to false positives and block legitimate transactions.

## Summary

In conclusion, Brex provides a specialized spend management solution with controls architected for financial departments. Its emphasis on real-time policy enforcement, granular restrictions, and detailed audit trails contrasts with the employee-centric, post-spend focus of many HR platforms. This makes it a distinct choice for organizations prioritizing financial control, compliance, and real-time visibility over an all-in-one HR workflow solution.

Question 46

What liquidity and yield features does Brex Treasury provide for business cash management?

Accepted Answer

## Overview

Brex Treasury provides a cash management solution for businesses that combines daily liquidity with the potential to earn a variable yield on idle cash. The service operates by automatically sweeping a client's funds from their Brex account into a designated government money market fund. Specifically, the funds are invested in the Dreyfus Government Cash Management Investor Shares (DGVXX). This structure is designed to offer a higher return than a standard business checking account while maintaining a high degree of liquidity for operational flexibility. The service is offered through Brex Treasury LLC, a FINRA-member broker-dealer, with Bank of New York Mellon (BNY Mellon) serving as the custodian for the brokerage accounts.

## Key Features

The primary liquidity feature of Brex Treasury is its 'same-hour liquidity.' This means that businesses can typically access their invested funds for spending on their Brex card or for transferring out of the account within an hour during business days. In some instances, access may take up to one business day. This rapid access to funds is a key differentiator from other investment vehicles like Certificates of Deposit (CDs) or traditional mutual funds, which often have lock-up periods or longer settlement times. This feature allows businesses to keep their operating cash productive without sacrificing the ability to meet immediate financial obligations. Earnings from the investment are accrued daily and paid out on the first business day of the following month, at which point they are automatically reinvested into the client's account.

## Technical Specifications

The yield offered by Brex Treasury is variable and is composed of two parts. The first part is the base yield, which is the 7-day SEC yield of the underlying DGVXX money market fund. This yield fluctuates based on prevailing short-term interest rates set by the Federal Reserve and other market conditions. As of early February 2026, this base yield was reported as 3.38%. The second part is an 'Additional Return' paid directly by Brex Treasury LLC. This additional return is tiered, meaning the percentage increases as the client's total balance across all Brex accounts (Checking, Treasury, and Vault) grows. For example, balances under $500,000 earned only the base yield, while balances of $20 million and above earned the base yield plus an additional 0.35%, for a total yield of 3.73% based on the reported rates.

## Limitations and Requirements

It is critical for businesses to understand the risk and protection disclosures associated with Brex Treasury. Funds held in a Brex Treasury account are investments in a security and are not bank deposits. Therefore, they are not insured by the Federal Deposit Insurance Corporation (FDIC). Instead, the accounts are protected by the Securities Investor Protection Corporation (SIPC). SIPC protection covers the loss of securities and cash up to $500,000 per customer (including a $250,000 limit for cash) in the event that the broker-dealer, Brex Treasury LLC, fails. This does not protect against a decline in the market value of the investment. The DGVXX fund itself seeks to maintain a stable Net Asset Value (NAV) of $1.00 per share by investing at least 99.5% of its assets in U.S. government securities, but this stable value is not guaranteed.

## Comparison to Alternatives

Compared to other cash management options, Brex Treasury offers a unique balance of features. Standard business checking accounts, including Brex's own FDIC-insured checking account provided by Column N.A., offer principal protection but typically provide zero yield. CDs offer a fixed, often higher, yield but require funds to be locked up for a specific term, sacrificing liquidity. Brex Treasury sits between these options, offering a variable yield that is generally higher than a checking account and much greater liquidity than a CD. Businesses should be aware of the caveats: yields are not guaranteed and will change with market rates, and while the fund's board does not currently intend to, it reserves the right to impose redemption fees or gates with 60 days' notice under extreme market stress.

## Summary

In summary, Brex Treasury offers businesses a mechanism to earn a competitive, variable yield on their operating cash by investing it in a government money market fund. The key features are its 'same-hour' liquidity, which provides rapid access to funds, and a tiered yield structure that rewards larger balances. The primary trade-off is that the funds are not FDIC-insured and carry investment risk, though they are covered by SIPC against broker-dealer failure.