Brex Business Bank Account Review: For Business Finances

When you start a business, getting on top of your finances can feel like a nightmare. Whether you’re building a side hustle or scaling a business, you need a business account that works for you.

Brex is quickly becoming one of the most recommended business bank accounts for up-and-coming entrepreneurs. The platform promises to help you pay – and get paid – fast and free from anywhere. If you’re a freelancer or a business owner, this account can help you finally get on top of your finances.

Our review covers everything you need to know about Brex, from its no hidden fees to the Brex bank referral scheme. Are you ready to overhaul your business finances? Keep reading!

What is Brex?

Brex isn’t a bank – it’s a cash management account that operates like a business bank account. It’s a financial technology company that operates as a broker-dealer. It promotes itself as a bank account for businesses that want to scale as it works in partnership with FDIC-insured banks. Its tagline is that “Brex is better than a bank”.

When you open your Brex account, you’ll receive your own Brex card. Your Brex card is linked to a Mastercard credit card that is connected to the balance on your account. Although it’s a credit card, this card functions more like a traditional debit card as it is secured against your existing balance. Any balance on your Brex card is paid daily from your current balance.

The platform offers FDIC coverage, has an easy online application, and has no minimum balance requirement. You’ll be able to send free ACH and wire transfers worldwide, build your business credit, and add unlimited users to your account for free.

Brex stores your capital with their partner banks that offer FIC coverage up to $250,0000 to keep your money secure for extra peace of mind. The platform also gives you several unique features, including the ability to invest some or all your account balance in money market funds.

With Brex’s business account, you’ll get features that are designed to help you spend less time on budgeting, and more time scaling. These features include accounting integrations, expense tracking, and a mobile app that allows you to control your accounts from anywhere.

If you’re thinking of signing up for Brex, you’ll want to use a Brex card referral to help you get the most out of your new business account.

The features of a Brex Business Account

One of the perks of using Brex is that it allows you to open multiple accounts for any business purpose. This setup makes it easy for you to track and report your cash flow. You can divide your accounts into different sections – from payroll to advertising or tax payments.

Brex allows you to create up to 8 accounts through its mobile app. Your user dashboard also allows you to keep investor funds in a separate account from your operational expenses to help you stay on top of your finances.

When you have multiple accounts with Brex, you can move money seamlessly between them. You can deposit funds and schedule payments in just a few clicks. Brex also produces automated monthly reports for each of your accounts to give you an overview of your finances.

With Brex, you can easily send payments with free transfers from anywhere in the world. Unlike other business accounts, Brex allows you to send unlimited ACH and wires. Whether you’re sending a payment overseas or paying a vendor, you can do it quickly and with zero fees with your Brex Business Account.

If you’re working with contractors globally or planning on expanding your business, Brex’s zero transaction fees are a major win-win. Most traditional banks charge heavy fees for making transactions abroad. Brex’s business account is designed for the modern business that needs to send and spend their money across the world.

You might choose to use Brex as your first business account. If this is an option you’re exploring, you can take advantage of the credit card offered to help business credit for your business and earn rewards in the process.

If you’re thinking of exploring other bank accounts from other platforms, check out our Netspend Bank Account Review.

Why you should sign up for a Brex Business Account

A business bank account isn’t like a normal current account. You’ll be handling everything from expenses to payments and utility bills. Not every mainstream bank offers incentives – or support – for business accounts.

A business bank account isn’t like a normal current account. You’ll be handling everything from expenses to payments and utility bills. Not every mainstream bank offers incentives – or support – for business accounts.

While traditional banks can take several days to process deposits, Brex offers several unique features that are designed to make money management easier for small businesses and freelancers.

You can wave goodbye to bank fees when you open a Brex Business Account. The platform has no account transactions or hidden fees. You can deposit your funds easily and securely with no minimum balance requirement.

Instead of waiting weeks to hear back from a customer advisor by email, you can reach out to Brex’s customer service by phone to ask questions or even dispute a transaction on your account. Brex offers personalized support with live-chat features on their website, as well as giving you access to Mastercard’s global emergency services and concierge support 24/7.

With a Brex bank account, you can focus on building your business instead of budgeting your money. One of the perks of using Brex is that they allow you to deposit checks, approve payments, and even lock debit cards from the mobile app. Whether you’re at your desk or traveling abroad, you’re always in control of your finances.

When you start growing your business with Brex, you’ll get 10,000 points when you spend $3,000 on a Brex card. You’ll also get 20,000 points when you link an e-commerce platform or payroll to Brex within your first three months.

Brex Business Account Referral Program

Are you thinking of signing up for a Brex business account? With all its innovative features, you’re probably already convinced. Before you dash off to open an account, you want to hear about the Brex bank referral program. You’ll receive a $250 Amazon gift card when you sign up through our referral link. Imagine what you can buy for your business with a free $250 Amazon gift card.

Best of all, once you start using Brex, you’ll earn a $250 Amazon gift card every time a fellow entrepreneur signs up using your own referral code.

Once you spend $1,000 using Brex, you’ll be eligible for your $250 Amazon gift cards. You can easily hit this threshold by paying a vendor or paying for new software for your office. Brex delivers its referral bonuses at the start of the following month. You’ll receive an email informing you when your $250 Amazon gift card is available to claim.

Have you heard of Chime Bank? Chime also offers referral bonuses like Brex. Read this Chime referral article for more info about the referral guidelines.

How to sign up for a Brex Business Account

Are you ready to get started with Brex? Signing up with the Brex bank referral program is straightforward.

1. Sign up for your account using our Brex card referral link. You’ll need to fill out the relevant information with regards to your company. It may take some time for Brex to approve your account as you’ll need to meet the company’s approval requirements.
2. Once your account is approved, you’ll need to spend $1,000 using your Brex card to qualify for your free $250 Amazon gift card. There is currently no time restraint on when this spending threshold must be met.
3. At the start of the following month, you’ll receive an email with your $250 Amazon gift card. Brex typically delivers their referral bonuses in the first few days of the month after a company spends their $1,000 through Brex.

Once your Brex business account is up and running, you can start sharing your unique referral link with other businesses that you think can benefit from this cash management platform. There’s currently no limit imposed by Brex for how much you can earn through their referral program.

It’s worth noting that you won’t receive a referral credit if the business you’ve referred doesn’t meet Brex’s approval requirements or spend $1,000 using Brex.

Overall, Brex’s referral program is one of the most generous of any next-generation banking solution. Both the new user and existing user will earn a $250 Amazon gift card once the requirements are met. The platform delivers its referral bonuses within a good time frame and it has a higher financial value than most referral programs.

While it’s not a cash deposit, every business uses Amazon, and you can choose to spend the gift card yourself or put it towards business expenses.

With the advancement in technology, it’s been very convenient to open bank accounts online. Same with Brex, it’s also fast to open an account with Lili Bank. When you use a Lili Referral Code, you even earn a sign up bonus. Go ahead and explore Lili bank too.

Final Thoughts – Is It Worth It?

With Brex, you can manage all your business finances in one place. You don’t need to worry about accounting software or expensive transaction fees. If you want to spend more building your business and less time budgeting, Brex is for you. It’s a must-have for businesses that are operating internationally or making foreign transactions.

If you’re thinking of signing up for a business account, you want to use our Brex bank referral link to take advantage of the sign-up bonus. Getting on top of your business finances is closer than you think.