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How to Open a Brex Business Account Online in 2024

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Brex Overview

Brex Inc. is an American financial technology company founded in 2017. It initially focused on providing cash management solutions for startups before evolving its model to cater to bigger enterprises. 

Brex’s products and services include an integrated expense management platform, business accounts, and corporate credit cards with a unique feature. Unlike traditional banks, Brex issues credit limits based on a company’s cash flow, making it more accessible for rapidly growing businesses. 

In this article, we’ll be sharing the key features of the Brex account to help you determine if it is the right option. We’ll also walk you through the account opening process, from the documents you need to prepare to how to contact customer support.

🔍 Discover: Explore other top neobanks worldwide in our detailed guide. 

Key Information Description
Eligible countries and regions United States
Eligible company types Incorporated C-corps, S-corps, LLCs, and LLPs
Initial deposit USD 0
Account opening fee USD 0
How long it takes to complete the application? 10 minutes
Average opening time 3-5 business days
100% online application Yes
Key Things to Know • Brex is not a bank
• Brex cards cannot be used to withdraw cash at ATMs
• Only companies incorporated in the US can apply for a Brex account
Best Brex Alternatives Wise: Wise offers a multi-currency account that gives you access to 10 local currency accounts, including in USD. Wise is an option to consider if you are a US-based company with frequent international money transactions. 
Statrys mobile application dashboard showing a total balance in a business account.

Types of Accounts Available

Brex offers business accounts through Brex Treasury, their FINRA and SIPC-registered affiliate company. 

Formerly known as Brex Cash, a Brex business account is a cash management account that allows you to save, spend, and grow your deposits. You can invest your cash in a money market fund and earn a 4.92% yield with same-day liquidity.

Additionally, you can send and receive ACH transfers and wire transfers in USD with a Brex business account. You can also connect with your other bank accounts for seamless financial management.

Brex offers three business account plans:

  • Essentials - For startups and growing companies
  • Premium - For mid-size companies looking to scale
  • Enterprise - For global enterprises with custom needs
Account Plan Key Features
Essentials • Global corporate cards
• HR, payroll, and accounting software integration
• Real-time spending reporting
• Brex AI expense assistant
• 24/7 support
Premium • Everything in the Essentials plan
• In-app travel booking and management
• Custom expense policies and approvals
• Custom procurement workflows
• Advanced accounting integration
• Dedicated admin support
Enterprise • Everything in the Essentials and Premium plan
• Local cards and billing in over 50 countries
• Unlimited policy customization
• Custom compliance and audit reports

⚠️ Important: Brex is not a bank, so their business accounts are technically not eligible for FDIC Deposit Insurance. However, Brex can diversify your savings across their partnered FDIC-insured banks for up to USD 6 million coverage. 


You cannot open a Brex business account if you are involved in any prohibited and restricted activities, such as:

  • Dealing in cryptocurrency, digital assets, or digital currency
  • Licensed financial services, including securities brokers and investment companies
  • Production, sale, or distribution of gray market products
  • Business models indicative of pyramid selling
  • Activities involving pseudo-medical and pseudo-pharmaceutical companies

You cannot use your Brex business account for personal spending.

Countries Eligible

Only companies incorporated in the US are eligible to apply for a Brex business account. 

Company Types Eligible 

Your company must be registered as one of the following to open a business account with Brex:

  • C-corporation (C-corp)
  • S-corporation (S-corp)
  • Limited Liability Company (LLC)
  • Limited Liability Partnership (LLP)

Brex does not provide services to individuals, sole proprietors, unincorporated companies, and companies registered outside the US.

What Documents Do I Need to Open a Brex Business Account?

You should be ready to upload the following documents when applying for a Brex business account:

  • A valid photo ID, such as a passport, a US driver's license,  and a state ID card
  • An IRS letter confirming your Employer Identification Number (EIN)
  • Valid US company incorporation documents

If you are a nonprofit organization, you must provide:

  • Form 990 from the past two years
  • Details about the board of directors and organizational governance or bylaws
  • 501(c)(3) designation and articles of incorporation

Brex may contact you for additional supporting documents or information about your business, such as proof of address or financial statements. 

Application Forms and Useful Resources 

You can set up a Brex account through their online signup portal. Brex also provides a dedicated FAQ page for account applications.

Statrys mobile application dashboard showing a total balance in a business account.

How To Open a Brex Business Account

You must create an account with Brex before accessing the other features, including business account opening. 

Step 1 - Create a Brex Account

First, visit Brex’s website and click “Get started” at the top right corner to access the signup portal. After filling out your details, such as your company name, work email, and mobile number, you will have to answer some questions about your company, including:

  • How many employees do you have?
  • Are you an eCommerce company?
  • How is your business funded? (Crowdsourced, Venture Capital/Angel Investor/Accelerator, Initial Coin Offering, Family or Self-Funded)

Brex will contact you after evaluating your business according to the information you provided. 

Step 2 - Verify Your Company

After getting your Brex account, you must verify your business. 

You will have to provide additional details about your company, such as your business address, incorporation details, and company ownership information. 

Step 3 - Apply For a Business Account

You can apply for a Brex business account during the onboarding process by clicking “Apply for financial services.” However, Brex does not specify the required details for this step.

After completing the application, Brex will follow up with you via email. 

Step 4 - Set up Your New Account

Once Brex approves your application, follow these steps to set up your business account:

  1. Add funds: You can add funds to your business account by connecting your other bank accounts via the dashboard or transferring directly from that external account. Additionally, you can also deposit checks through the Brex app.
  2. Assign roles: You can assign users different roles in the business account, like account admin, bookkeeper, AP clerk, and employee, each with specific permissions from initiating payments to view-only access.
  3. Make payments: You can make payments through ACH transfers, wire transfers, and checks as long as you have a positive current balance. 
  4. Connect your company resources: Lastly, you can connect your company resources, such as payroll services, with your Brex account through your account and routing numbers

How Long Does It Take To Open a Brex Business Account?

It should take around 10 minutes to set up an account with Brex.

After completing your application, Brex would take around 3-5 days to review and approve your business account. 

If Brex requires additional documents or information, you will have 30 days to complete the request.

How Much Does It Cost to Open a Brex Business Account?

The Brex business account has no account opening fee. There are also no transaction fees for ACH and domestic wire transfers. However, the monthly fee varies depending on your chosen account plan.

Plan Monthly Fee
Account Opening Fee USD 0
Monthly Fee Essentials: USD 0
Premium: USD 12
Enterprise: Custom pricing

How to Contact Brex Customer Support?

You can email contact@brex.com for general queries. 

Once you set up your account, you can call +1 833 228 2044 or chat with Brex’s customer support 24/7 from your dashboard. 

Brex Alternatives

  Brex logo Statrys logo Wise logo
Multi-currency Business Account no yes yes
Supported Currencies in Business Accounts USD 11 currencies, including SGD, HKD, USD, RMB, EUR, GBP, AUD, CAD, NZD, JPY, CHF 40+ currencies
Eligible Countries US Hong Kong, Singapore, and the BVI 170+ countries, including the US
SWIFT Payments  yes yes yes
SWIFT Payment Tracking Cannot find the information yes yes
Account Monthly Fee Depends on the account plan Free (if 5 or more outgoing transfers made in the month) Free
Required Minimum Account Balance no no no
Account Opening Time 3 - 5 business days 3 business days 2 - 10 days
Cards  Physical and virtual cards Physical and virtual cards Physical and virtual cards
ATM Withdrawal no yes yes
Customer Support Channel Live chat, Email, Phone Website, Email, Phone, Live chat, WhatsApp, WeChat Help centre, Email, Phone
Trustpilot Reviews 3/5 based on 564 reviews 4.6/5 based on 257 reviews 4.2/5 based on 207,362 reviews
Statrys mobile application dashboard showing a total balance in a business account.


Is Brex a bank?

Brex is not a bank. It is a licensed financial services company providing cash and card management platforms and services, including business accounts and corporate credit cards.

Is Brex insured by FDIC?


Who is Brex for?


How much does it cost to open a Brex account?


Do you need an EIN for Brex?



More info

Statrys does not directly compete with Brex because we do not provide business accounts in the US. We're committed to providing an unbiased, thorough review to help you make an informed choice.

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