Brex

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

## 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.