Answering common questions about the Brex business account

Erik Zhou is the Chief Accounting Officer at Brex and the President of our broker dealer. Before joining Brex, he served for 11 years at PwC working in the securities industry focusing on FINRA and SEC regulations. He also led the formation of Brex’s broker dealer back in 2019.

There’s been a lot of uncertainty in our industry in the past few days following the news about Silicon Valley Bank. Executives from companies of all sizes all have the same question: “How can I make sure our cash is safe?”

As Brex’s Chief Accounting Officer, I run the day-to-day financial operations at Brex, and I know how it feels to have a fiduciary duty to your investors, employees, suppliers, and customers. As you weigh all available options, I want to ensure you have all of the information you need to make the best decisions for your business's financial future.

Four years ago, I was part of the team that designed and launched the Brex business account. When we were initially designing this cash management account, we had three main goals in mind:

1. To preserve your deposits
2. To provide easy access (daily liquidity) for your full balance
3. To mitigate your risk by diversifying your funds

In the following video, I hope to give further insight into how we accomplish each of these goals today and the security and peace of mind you can expect as a Brex business account customer.