Brex

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

## 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.