Thanks for leaving a review. Ive sent Brex 2 emails with no response, been on hold now for an hour on the phone and chat, Im at a loss on how to contact someone at Brex. You can use any of the following methods at any time, and switch between them as you see fit: Email (single invite) HRIS integration CSV upload Email (single invite) Admins can send an invitation. Doesnt make a lot of sense imo, a. We'd like to take the necessary steps to remedy your frustrations. Unlike the other points offered by Brex, the 80,000 points typically don't post instantly, but rather "sweep" the Tuesday after the spending is complete (or sometimes the Tuesday after that). People who write reviews have ownership to edit or delete them at any time, and theyll be displayed as long as an account is active. i wanted to make sure the new bank is operating properly before transferring all business accounting here. @ Runs Pretty Good for a Fat Guy -- Nope, there isn't. Brex has developed a niche, and I cant wait to see how the product evolves over time. The figure shown here is an estimate of the annualized yield based on the average performance of the past seven days. We may expand our scope in the future but at the moment, were focused on all-in-one finance for businesses. If you use an authenticator app like Twilio Authy or Google Authenticator and arent receiving the code, you can reset your 2FA method via the sign in process Any ideas? Stay away from them. How Brex Cash Works. I didn't use this Bank a lot for my business due my suspicion about their activities and lack of customer service/ support and transparency. If you're managing a large company with Brex I would recommend getting out.We were told to leave the platform as well because we are not a * professionally funded * - well Brex, we have $12m of funding and our sister company has $80m (both use brex) and we certainly will not be putting any of it near brex anymore. The process of applying for a Brex Cash account with an S-corp took me just over five minutes. Hi Gustavo, thank you for leaving us a review. In this post, I wanted to break down the value of Brex Cash in basic terms, share my experience applying, and also share some tips for getting approved. Everything is approved, but it won't allow me to transfer funds. Proactively close your account through your Brex dashboard. Find out how we combat fake reviews. Points can be redeemed for one cent each cash back, or my preferred use would be to transfer them 1:1 to airline partners (these include Air France-KLM Flying Blue, Avianca LifeMiles, Emirates Skywards, JetBlue TrueBlue, Singapore KrisFlyer, and more). You can give yourself peace of mind knowing that all the . The Brex mobile app gives you full, fast access to your Brex account and card. They were okay. Services may be provided by Brex Payments LLC (NMLS #2035354). I immediately transferred the points to an airline program and paid off an outstanding bill with the debit card. 12:41 PM PDT April 26, 2023. I completed the $3,000 spends for each account and received the 110,000 point bonus for each. You can also chat with our support team through the link at the bottom of every help article, after logging into your Brex account. When my account was approved, it said that I would earn 30K points (20K when link payroll and 10K when spend $3K in 3 months). David Cross David is the chief editor at WebHostingMedia right from the beginning. I was approved earlier today, but then got this just the below with zero explanation via email: "Unfortunately, were unable to continue offering your company an account with Brex. Just want to make sure its correct as I assume there might be another way to track and link back to your referral? umm.. @Mike, who said anything about being 'cheated'? While Brex Cash is not a bank account, it carries similar protections with the added possibility of earning more on your balance; you can move a percentage of your cash to a money market account to earn yield, or store deposits at one of Brex Cash's program banks (FDIC-insured . Brex Cash offers some industry-leading bonus categories for spending on your Brex Card, like 8x points on rideshare, 4x points on restaurants and dining, and more. You can add a user with the bookkeeper role, which will give them the ability to see and export your transaction history on both the card and Brex Cash account. The 30k points are for all Brex members, and are in addition to the OMAAT-exclusive offer. Brex Treasury LLC (Brex Treasury) is an affiliate of Brex and a member of FINRA and SIPC that provides Brex Cash, an account that allows customers to sweep uninvested cash balances into certain money market mutual funds or FDIC-insured bank accounts at Brexs partner banks, such as JPMorgan Chase Bank, Member FDIC. Aside from your legal business name, we allow companies to associate one or more Doing Business As (DBA) names with their Brex account. I saw this in a Forbes write-up of the Brex points redemption terms: You may also transfer at a 1:1 ratio to one of seven airline partners, as long as you exclusively use the Brex card for your business expenses. University of South Florida running back Michel Dukes was arrested on allegations of domestic battery over the weekend.. While it's not the experience we'd hope for any of our customers, we're glad to have all experiences represented on our page. My traditional bank charges high fees. @ dizzy -- I replied to this on the other post, but just in case you didn't see this, you should be able to get that fairly easily from your state licensing bureau. I had to deposit a check from the business checking account I was transferring from and that took about 2 business days to clear which isn't bad for a new account but other banks in my area make all business deposits available next business day so also not unusual as well. Brex Cash was recently introduced, and I wrote in a separate post about why this is so great. I certainly could be wrong, and heck, I'd even plan on getting a 1099, but to me it doesn't matter much, because I'm coming out way ahead either way. Part of the Group who got approved deposited money and then had account suspended. Ben I'm disappointed that you habe gotten your readers into a pump and dump scam. Hi Parisa, thank you for leaving us a review. You'll see the additional 30K bonus once you've created your account. I went through your link and all. Brex Business Profile Brex Ecommerce Multi Location Business Find locations Contact Information 153 Townsend Street, Sixth Floor San Francisco, CA 94107 Visit Website (833) 228-2044. We're yet to try out the bank transfer payments facility (doesn't support payments directly in foreign currency just yet) but we will as soon as we can. They cut value of rewards down by ~50% a few months ago -- no explanation, no warning. User @ZeebDemon revealed the "YAP" flag Tuesday while celebrating "Alice Day," a day when child . Its that easy! Are there any activities that need to be fulfilled in order to receive the bonus? but I was still able to redeem my points. Quick heads up regarding a couple of common questions (which I've updated the post to reflect): Deposit Sweep Program Disclosure Statement. If there's a bonus for connecting payroll, does that mean you're able to connect via ACH for payroll pulls? But that's basically what it is in practice. Following the news regarding First Republic Bank, were doing everything we can to help those impacted by these events Brex customers or otherwise. You can resolve this by choosing one of the following options. Brex Cash is a cash management account for venture-backed startups and mid-market companies. Plus, I have Not super impressed with Brex so far. Fireside, the Mark Cuban-backed interactive entertainment app, has . Tell me that I can't transfer or otherwise redeem my rewards? If you have any questions, please consult Brexs Platform Agreement. Thanks again. Note: If youve elected to receive SMS. @ Troy -- If you were approved for the Cash+30-day product, you would still get the 80k points. Can you provide any clarity on whether the bonus is being honored? Got your Brex account suspended? @Ben, Wish i would have looked that up first. Note. Is "payroll" supposed to be "PayPal?" 6. @ Christian -- There shouldn't be any issue using the Cash/ACH functions to pay bills. Still can't find what you're looking for? Some of these actions include: Adding receipts, memos, and comments to a users expenses. I have had a company for 20 years and I applied and Brex has had no communication with me for the 2 weeks since application went it.Then I received an email that said "account suspended" with no other info. They work with E-commerce and we are. Help please! The Brex product and marketing teams are aware that people are getting conflicting information, but assure us that the link tracking is in place, and everyone who applies through the OMAAT links will receive the 80k bonus @ Guest -- Ugh. CASE-NO__.. 5300 Account__.. - well Brex, we have $40m company and we are going to get another $90m and you certainly won't hear about us anymore.12 billion company and then these reviews.to which mine gets added because they only accept Microsoft and Amazon as customers. Your corporate card is waiting, which will include a button that says Create account. The principals of its FIntech seem to be way over their heads. Brex admins can invite as many new users as theyd like to by following the steps below. @ Evan -- This is purely a guess on my part, but I would assume there wouldn't be a 1099 because the rewards are primarily offered as an incentive for spending, much like with a credit card (this is different than a checking account bonus, where it's offered for funding). This includes disclosure of a transactions annual percentage rate, amount financed, finance charges, payment methods, and repayment terms, including prepayment policies. I applied for a Brex Cash account on 1/29 and it went into a pending status. Past performance does not guarantee future results, which may vary. Other points should just post automatically. I clicked on the link from this article to open an account, but the referral code field (which is optional) is blank. Money market investment of the cash: Is available elsewhere, but nevertheless good. In other words, you link your business checking account, and then you can transfer funds and then use your Brex account for everything from payroll to business purchases. Close my account, fine. Bask Bank Review: My Go-To Savings Account. @ Erik -- Brex has a few different products, and it's my understanding that this applies to a different product, which I had written about here: Stick with traditional banks. For example, they've drastically reduced customers' accounting workloads by integrating Cash into third-party accounting systems. Brex Treasury is not a bank nor an investment adviser and your Brex Cash account is not an FDIC-insured bank account. Use of Brex Empower and other Brex products is subject to the Platform Agreement. To maximize your odds of being approved instantly: Brex Cash is a phenomenal business cash management account. Hope that helps. Or must the person you're transferring to match the name the business checking account is under. The Brex Cash account offers two ways for small business owners to store funds. If you have a Brex Cash account, you can then deposit checks into your account made out to any DBA name we have on file. Dont care for the bonus points, just need my funds returned. When an account is suspended, we review your current information and temporarily suspend transactions on your account. This is wrong in so many ways and can jeopardise a business you've worked so hard on. Brex does not provide, nor does it guarantee, any third-party product, service, information, or recommendation and may pay third parties and/or be paid by them for customer referrals. The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered. .css-1mejsbn{font-variation-settings:inherit;color:#FFFFFF;}Services may be provided by Brex Payments LLC (NMLS #2035354). Contact us for a copy of the fund prospectus. I had been a customer for almost a year and was enjoying using their services until they sent me an email out of the blue saying my account will be closed and I need to move my funds. In late 2022, California enacted laws requiring that business-to-business commercial finance providers offer rate and fee disclosures to customers based in California. That number is separate from the billions that customers were reported to have transferred on Thursday to Brex. If I have a formal end date I'll be sure to pass it on (though it's also possible notice may not be given). Unless you have a "prohibited" business type (like a weed dispensary, etc.) Sure pushing this thing. I think I'd like to sign up, as I have an established LLC. Were currently developing more robust tools for easily tracking and visualizing your account spend. The. Definitely can't depend on a cash management fintech company for my legit LLC (since 2002) if they can't even review an application in 16 days. 2023 Brex Inc. (Brex) and the Brex logo are registered trademarks. Hi there, thank you for leaving us a review. I think as other customers @JC I know from one of my other large business groups that Brex is a mess. Brex Cash account There are no transaction fees when sending domestic wires, ACHs, or checks via your Brex Cash account. We'd like to take the necessary steps to remedy your frustrations. Even in situations where points are taxed, it's never based on the retail cost of a $20K first class ticket, for example. These people are crooks, liars and thieves. The Brex Cash account has ACH functionality, and then theres a credit Card "with daily statements" that comes with it. The offer for the Brex Cash Card has expired. The Disney Junior U.K. network ceased operating in Oct. 2020, with its corresponding Twitter account shut down at the same time. I've read some comments of some people having the same issue and we could email you guys to get some clearer answers? Doubt myself or anyone else where ever see that money again. With a few days, in our experience. Now my account says it's under review and I'm unable to load any funds. This is quite literally an unprecedented opportunity. Hope this is the last Brex "reminder," that gets thrown onto the top of the front page. Inconsistent decisions about denial. Please reach out with any questions or feedback! At first I thought the snarky email was spam because it was so unbelievable, but it is all true.. An online chat with them today had them hedging their commitments, letting me know that they would "get back to me with a decision in 3 An online chat with them today had them hedging their commitments, letting me know that they would "get back to me with a decision in 3 to 7 business days," so I have the same feeling as @Robin that they got overwhelmed, pulled the plug and are now in CYA mode. I hit the cash and card option by mistake instead of the Cash account as I should have. You can always start with one business, and then go from there. I applied about 10 days ago.. was approved and given my digital card number. @Santiago Speranza, allegedly it's every Tuesday. It's like play school dealing with them. @ AM -- I don't know how long the offer will be around, other than that this isn't the standard offer. Thanks again. I'm not sure why my account was closed (my other business account wasn't linking so I instead linked a personal bank account and personal PayPal account, and I signed up with a gmail email - I recommend not doing any of those things!) We have our suspicions that there is some form of exclusion going on. Carefully consider a fund's investment objectives, risks, charges and expenses, as described in the applicable mutual funds prospectus. And thank you for these very detailed points about Brex. Hi Noam, thank you for leaving us a review. Anyone thinking of using Brex for their business banking needs, please think twice. The skill they have is attracting VC money, not customer service in any way. Step 2: Under the Personal tab, you'll see Phone number. @ George -- Do you want to forward that to me? Here are some of the ways were supporting our First Republic Bank customers here at Brex: Safety of funds The safety of our customers funds is. Advertiser Disclosure: Some links to credit cards and other products on this website will earn an affiliate commission. I can see the IRS easily making the argument that if you get points from a business that you use on a personal 1st class ticket that costs $20k then it's the same as receiving $20k in compensation that should be taxed. While Brex isnt a credit agency, we typically provide payment performance details for Brex accounts to credit reporting agencies. A Brex account includes both a Brex Card and a Brex Cash account. I am able to transfer points to airline partners out of my Brex Cash account without issue. @ Cate -- Yep! A lawyer was suspended after trying to sue his former "sugar baby" for C$226 million ($166 million). The account would better if it offered hotel point transfers, as well as cash back. Labour leader Sir Keir Starmer this morning described Sue Gray as a woman with a "formidable reputation" as he faces pressure to explain the circumstances of her job offer. I feel a little cheated when I can skim through one day's posts in less than 30 seconds. Step 1: Under Team, search for the cardholder using the search bar and select the one you want to reactivate/deactivate. @ Scott -- The terms say you need to have business income hit your PayPal account, and then swept to Brex. "Earn 10,000 additional bonus points after spending $3,000 on your next Brex Card within the first three months". Brex dashboard Go directly to brex.com and click Sign in. Stay tuned for the class action (I'll gladly be the class Has anyone else had their accounts abruptly closed for inactivity? Past performance does not guarantee future results, which may vary. +1 on the multiple LLC's questions, additionally to see if we try to stack the $250/ea referral code from our own accounts if that'll nullify yours (and I guess more importantly to us, the heightened sign up bonus through you). Then youll have to enter some information about your business. I sent them the form 4 times as to where to return money and each time they said they would do it they have not. Brexs Human Resource Information System (HRIS) integration helps to manage your Brex users from within your HRIS rather than from within the Brex dashboard. We followed your recommendation to get involved with Brex in the first place). Brex Cash is a cash management account that functions much like a business or corporate checking account (although it isn't a bank account). Thanks again. It's important to us that all of our customers' voices are represented here, and we're glad this has been brought to our attention. @Ben - Is there a timeframe in which you have to spend the $1k to receive the 80K signup bonus? It goes against our guidelines to offer incentives for reviews. I know that you are not responsible for the companies you work with or how they operate, but I have to agree with Robin here. Girl, you've just poked the bear. If any of them sound interesting to you, click Get updates to be notified if the feature is implemented. Step 1: In your dashboard, go to Team > Users. Or just explain the process. Step 1:In your dashboard, go to Team > User and click Invite user. Additionally, can I sign up as a sole-proprietorship? Hi Matt, thank you for leaving us a review. I have to agree with several others Brex is a joke. Thanks again. This on the other hand is incredibly confusing and there are some weird fees associated with reimbursements. It will reset on the first of every month and is independent of your company's credit limit and spending as a whole. I'm not sure I will keep this account longterm unless these issues are addressed. I qualified fairly quickly for the 20k bonus and received it promptly. Hi Leon, thank you for leaving us a review. More forthcoming requirements would be helpful as we would not have wasted time applying if we did not believe we met all requirements. The Hillsborough (Florida) County Sherriff's office said Dukes was accused . Note 2. As a Brex admin, you can deactivate or reactivate users at any time by following the steps below. @ Dan Nainan -- When you are approved for Brex Cash you receive a card (which can be virtual) that you can use for expenses, and it's automatic. @ Eileen Kerrigan -- You can link a payroll provider (such as Gusto, etc., which many single employee businesses still use as it automates federal tax filings and such), or a payment services provider that you use to generate business income (PayPal, Stripe, Square, etc.). As long as you follow the OMAAT link, you'll automatically be eligible for this amazing bonus. They couldn't tell us which account exactly was marked as deferred and when we asked to speak to someone who could tell us, because we and Experian couldn't find it, they refused and were just using our answers during their fishing expedition against us, "You told us that your student loan payments were suspended, that's the account that's . Suspended Reported-by__.. Go into your Brex account and Click on Cash > Payments > then either make an ACH or Check payment back to yourself. Brex Cash offers virtual card numbers for added security, which can be useful for online purchases, subscriptions that auto-renew, etc. Brex will shut off your funds with no warning if your Bank account you link to them drops below 25k. We appreciate your patience and well update you once weve finished reviewing your account. It's difficult to put into words my level of disappointment at how OMAAT has conducted itself in relation to Brex. The "other" post is a litany of account delays (maybe not the most serious issue), but quite seriously, frozen accounts, frozen funds, and absolute absence of communication from Brex about any of this. There MIGHT be a chance they enable it again in the future but no clue when. However, we do have some great resources available to help you get started with your Brex account. If your team's admin has created a new user account for you, you'll receive an email with the subject line: [Action Required] Welcome to Brex! If you are approved, youll instantly have access to your Brex Cash account, and can start using your account immediately. We just requested additional info from you so we can follow up! Did some more digging company only has $20 million bank deposits and is a very shaddy company. Brex admins can update their team member's role type by following the steps below. A list of partner banks is available at https://www.brex.com/legal. Your feedback is important in helping us keep our community safe. Were working hard to build more solutions to support all businesses. In the simplest terms, you can envision Brex as banking in the cloud. Now I can't deposit money. Pretty telling that OMAAT still hasn't bothered to directly address the fact that you could get assets frozen without a clear path back out from nor bothered to warn in a direct fashion about the terrible customer service. I don't see why this would be different. Hi Daniel, thank you for leaving us a review. I find it astonishing that this company believes they can close our accounts and wipe out our accumulated rewards on a whim! All Brex users, whether youre an admin or an employee, will see a notification center in the Inbox section of both the dashboard and Brex app. To avoid having your account suspended, take the necessary precautions to update your contact and billing information and comply with the TOS of your hosting provider. Step 1: Click Team on the left side of your Brex dashboard. Last updated on: April 18, 2019. Surprising as they asked for almost no information on the application. By default, new users' credit limits will be $0. Im seeing 80K not 110K points offered to OMAAT readers. Jakub Porzycki/NurPhoto via Getty Images. Carefully consider a fund's investment objectives, risks, charges and expenses, as described in the applicable mutual funds prospectus. Congratulations on getting your corporate card. We've tried it with both Stripe and Gusto, and it was as easy as changing the ACH info in Stripe and Gusto, and Brex recognized the transaction. Review the background of Brex Treasury or its investment professionals on FINRA's BrokerCheck website. I was a happy user until this happened. When an account is suspended, we review your current information and temporarily suspend transactions on your account. @ Erik -- I'm working on getting an answer. @ JDawG -- You'll want to consult your tax professional (which I'm not, obviously), but I can't imagine that would be the case. Use of Brexs user data access application programming interfaces is subject to the .css-uoasn0{-webkit-text-decoration:underline;text-decoration:underline;}.css-uoasn0:hover{color:#FF8050;}.css-uoasn0:active{color:#CF592B;}Brex Access Agreement. Most helpful comments ( as chosen by the OMAAT community ). My company recently onboarded this tool to replace Concur.Concur was ok, a bit outdated but it worked and it was intuitive. Update any outstanding instructions or recurring payments that use your Brex account details. Once your account has been closed, here is what you can expect in regards to your Brex Cash account, accrued rewards, and overall account data. Please visit the Deposit Sweep Program Disclosure Statement for important legal disclosures. Investing in securities products involves risk and you could lose money. Close my account, fine. "In other words, you link your business checking account, and then you can transfer funds and then use your Brex account for everything from payroll to business purchases.". It is why I came here. Do you know how long they plan to offer this elevated signup bonus? WhatsApp is a messaging tool that allows customers all over the world to access messages with a data signal instead of a cellular network. This is like a bank account or a pre-paid card. Investing in securities products involves risk and you could lose money. SIPC currently protects the assets in each of your securities accounts at Brex Treasury up to $500,000 (including $250,000 for claims for cash). Lets see if the points make it to the airline.. You have successfully joined our subscriber list. 5. So in my case I lost about 20 days of spending time since that is how long it took for them to approve the account. I should at least be able to get you a better answer, if not a resolution. While I cant speak to every specific case, Brex has shared with us that the most common reason for not getting an instant approval is when Brex cant collect the information needed to verify a business, which is most common for companies without much of an online presence. It seems the only way to get reasonable customer service from Brex is through Tiffany as a back channel. @ Robin -- I'm sorry to hear that you weren't approved for an account. A 30 second skim of one days OMAAT content is not being cheated; on the contrary the saved time is of value to me. Brex Cash is a cash management account that functions much like a business or corporate checking account (although it isnt a bank account). Is there anything else that I can do? To this day, our funds are still unaccessible and we can not move them to our other account. Thats unheard of for a no-fee account that doesnt even involve a credit pull. Though Brex now serves . Our goal is to help businesses grow and develop, which is why we currently require incorporation for Brex accounts and dont provide cash management for personal use. It took way to long for them to approve my application and then to add insult to injury they count the 90 days for the 10,000 in spend from date of application rather then the date they approved the account. The linked account must always be above 25k plus monthly charges or they stop payments and shut off card Date of experience: January 15, 2023 Info Unfitltrd 1 review US Feb 10, 2023 Account suspended and no access to our funds Once thats complete, youll have to upload a copy of your photo ID, which could be your passport, state ID, permanent resident card, etc. Any idea how long it'll take them to approve the documents? If there's a 1:1 transfer then the transfer partners become more important. As youd expect & hope (based on this ultimately being a quasi-tech company), the Brex online experience is much better than your typical online banking experience. I wasn't able to use the Gusto benefits (I have an existing account with them) but I was able to get approved with my S-Corp and open my account. It did require my social security number. A Disney Junior -branded Twitter account has been suspended after receiving a gold tick from the social media .

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