Domestic and international wire transfers →
A wire is a means of transferring funds to or from your Brex business account. There are two types of wire transfers: domestic wires and international wires.
Brex business accounts
The Brex business account →
A Brex business account is a cash management account offered by Brex Treasury, a FINRA-registered broker-dealer. While it’s not a bank account, you can use your business account to deposit checks, manage spend, and send or receive payments via ACH, check, and wire.
International wire instruction requirements →
The purpose of payment code is a code that indicates the reason for a wire transaction, such as trade in goods or services, investment, or other services.
ACH transfers →
An automated clearing house (ACH) is a method used to transfer funds to and from your Brex business account. You can initiate an ACH transfer from the Brex platform — using either the dashboard or your app — or you can give your account details to your vendor so that they can push or pull funds externally.
Manage your Brex business account balance →
You have several options available to help you manage the balance of your Brex business account(s). This includes a number of different sending and deposit options, some of which you can do right from your Brex app.
Processing cash transfers →
We process payments as quickly and safely as possible, though processing times will vary depending on the sending institution and payment method.
Multiple Brex business accounts →
If you’re approved for a Brex business account, account admins can create up to 240 individual accounts under one EIN. The individual accounts will have unique account numbers but the same permissions as your primary account. They can be used to deposit funds for various reasons, including different categories of spending. Account admins will also be able to transfer funds instantly between accounts.
Depositing checks →
Account admins and AP clerks can deposit checks into your Brex business account from the Brex mobile app.
Tracking cash transfers →
Depending on the method of transfer you use to send an outbound transfer of cash from your Brex business account, the time it takes the funds to settle will vary. You can track the transfer from your Brex dashboard while it processes.
Money market funds with your Brex business account →
Funds in your Brex business account that you choose to store in money market funds are segregated and held by Bank of New York Mellon. These funds are invested in the Dreyfus Government Cash Management Investor Shares (DGVXX).
Sending checks →
When you have a Brex business account, you can send outbound checks to your vendors.
Sync your Brex business account with other platforms →
To best manage your company funds, you can link your Brex business account with various ecommerce and payroll softwares. You can do so by using your Brex business account details to connect from the dashboard of your desired platform.
Brex business account payment approvals →
Payment or transfer approvals impact Brex business accounts that have any AP clerks or more than one account admin.
Cancel cash transfers →
You might run into a situation where you want to cancel a cash transfer from your Brex business account that you’ve already initiated. Depending on the type of transfer, this may be possible, though some transfers cannot be canceled, even if they’ve yet to finalize.
Returned wires →
There are a number of reasons you might have one of your outgoing wires returned to your account.
Information Surrounding Evolve Bank & Trust →
We are aware of a recent cybersecurity attack impacting Evolve Bank & Trust resulting in a data breach that exposed Evolve Bank & Trust customer information. Brex does not partner with Evolve, and Brex was not affected by the recent security breach.
Troubleshooting Brex BIC →
BIC (Business Identifier Code) and Standard Settlement Instructions (SSIs) are maintained by the SWIFT network and updated periodically with information on new financial institutions.