Brex

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

## 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.