Domestic and international wire transfers

Overview

A wire is a means of transferring funds to or from your Brex business account. There are two types of wire transfers:

• Domestic wires: Transfer funds to someone in the United States. These are usually processed on the same day.
• International wires: Transfer funds to a party in a separate country. These can take 0-1 business days, though this depends on the country and processing institutions involved.

You can also pay a bill by wire transfer from a Brex business account or an external account. For instructions on paying bills, refer to this help article. With checking, treasury, vault You can only send and receive wires from your Checking account. You can use the funds in your Treasury or Vault account to make a payment if you transfer them to your Checking account first by following the steps in this article.

Domestic wires

A wire is considered domestic if it is both sent to and originates from within the United States or a United States territory (including American Samoa, Guam, Northern Mariana Islands, Puerto Rico, or the Virgin Islands).

Send an outbound domestic wire

Receive an inbound domestic wire

To have a vendor send you a domestic wire, please provide them with the following information and instructions: Note: If you’ve recently changed your legal business name or “doing business as” (DBA) name, please make sure your vendors have updated this in their records.

• ABA/Routing number: 121145349
• Account number: Your Brex business account number (can be found in Account details)
• Account type: Business checking
• Beneficiary name: Your company name (in Account details)
• Beneficiary address: Your company’s address (in Account details)
• Bank name: Column NA Brex
• Bank address: 1 Letterman Drive, Building A, Suite A4-700, San Francisco, CA, 94129

Note: This is what Brex requires to initiate transfers. If the other party asks for additional information, you may need to get further instructions from them.

International wires

A wire is considered international if either the initiator or receiver is located outside of the United States or a United States territory. American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and the Virgin Islands are all considered to be US territories. Note: We cannot support transactions in certain regions, listed in the Regions > Unsupported section further down on the page.

Send an outbound international wire

Receive an inbound international wire

To have a vendor send you an international wire, please provide them with the following information and instructions: Step 1: Enter the following beneficiary bank information:

• SWIFT/BIC code: CLNOUS66BRX
• SWIFT ABA/routing/transit number (if asked): 121145349
• Bank name: Column NA - Brex
• Bank address: 1 Letterman Drive, Building A, Suite A4-700, San Francisco, CA, 94129

Step 2: Enter the following intermediary bank information:

• SWIFT / BIC code: CHASUS33XXX
• Bank name: JPMORGAN CHASE BANK, N.A
• Bank address: 383 MADISON AVENUE, New York, New York, 10179

Note: You’re not required to provide intermediary bank information, but we recommend doing so to help your wire arrive without delay. Step 3: Enter the following beneficiary information:

• Beneficiary name: Your Brex business account’s full legal name.
• Beneficiary account number: Your Brex business account’s full account number, which you can find using this help article.
• Beneficiary address: Your office address.

As we’re transitioning to a new bank partner, please provide the information above to your vendors that regularly send international wires to your Brex business account. Note: Brex doesn’t have an IBAN, as IBANs are, more often than not, exclusive to European institutions. If you’re trying to arrange a transfer into your Brex business account and the originator’s transfer form requires an IBAN, please reach out to the sending institution.

Local currency

One of the most traditional forms of wiring money involves using the SWIFT network (Society for Worldwide Interbank Financial Telecommunication). However, using the SWIFT network runs your money through several different banks on the way to your destination, often resulting in delays and fees (especially currency fees). For instance, if you send an international wire from Brex to your supplier in Beijing, the wire might pass through Barclays London and Bank of Hong Kong before it’s deposited in your recipient’s account at Bank of China Beijing. To help avoid this, you can send an international wire in the local currency of the wire’s destination (sometimes called “foreign currency wires” or “FX wires”). Choosing to send payment in local currency as opposed to in USD gives you the following advantages:

• Streamlined delivery. With fewer intermediary banks involved in local currency wire transactions, wires typically take less time to process and arrive sooner than wires sent in USD.
• Fewer fees. Because fewer intermediary banks are involved, it reduces opportunities for added processing fees to be deducted from your wire. As a result, you can have higher confidence that your beneficiary will receive the amount you sent (although their bank may still charge them fees to receive the wire).

International wires can be sent from your Brex business account to any country listed under Supported. We cannot support transactions in any of the Unsupported regions. If you use your Brex Business Account to send an international wire transfer in a currency other than U.S. dollars, then we will choose the foreign exchange rate (“FX Rate”) for that transfer at our sole discretion. See your Brex business account agreement for more details. Note: Brex business accounts can send local currency wires, but can only receive international wires in USD. FX-denominated wires will be converted by our banking partner before being received in your Brex business account.

Regions

Reverse wires

Reverse wires, also known as a wire drawdown or draw-down requests, allow you to authorize a payroll provider to withdraw funds directly from your bank account if they need you to use reverse wires to process their payroll correctly. Payroll providers often prefer reverse wires because they pull money directly from your account and are preferable for large, recurring transactions (even if the exact amount of the recurring payment varies). Reverse wires also help Brex customers in a few important ways:

• Reliability: If you have enough funds in your account, wire drawdowns are much more likely to go through than ACH debit or check transactions.
• Cash on hand: Wire drawdowns are processed in real time, like a wire, so the withdrawal date is usually less than two days before payroll. By leaving money in your bank account longer, you have more cash on hand.
• Easy reconciliation: If you regularly send employee payroll, contractor payroll, and payroll tax payments every two weeks, wire drawdowns will consolidate all three payroll withdrawals into a single transaction.

Disclaimer

If you use Brex Business Account to send an international wire transfer in a currency other than U.S. dollars, then we will choose the foreign exchange rate (“FX Rate”) for that transfer at our sole discretion. Please see your Brex business account agreement for more detail.