Brex is a finance software platform for businesses, run by Brex LLC, a wholly owned subsidiary of Capital One, N.A. It combines corporate cards, expense management, bill pay, travel booking, accounting automation and a business account, for companies in more than 120 countries.
The Brex business account has three parts. Checking is a commercial checking account provided by Column N.A., a bank that is a member of the FDIC (the US agency that insures bank deposits). Treasury invests cash in a money market fund through Brex Treasury LLC and is not FDIC-insured. Vault spreads deposits across 24 partner banks for more FDIC coverage than one bank gives. The account includes free same-day ACH payments (ACH is the US network for bank-to-bank transfers), invoicing and automated bill payment. Cards carry spending limits that are enforced automatically, and transactions sync to the accounting system (ERP).
Brex is a hosted service priced per user per month. The Essentials plan for startups costs nothing; larger plans add expense policies, approval chains and more legal entities.