Brex Cash is a cash management account that functions much like a business or corporate checking account (although it isn’t a bank account), but is updated for the way businesses work in the modern world. You can use the account to deposit checks, send and receive ACH transfers, fund payroll, wire money internationally, and manage spending for different users.
There are no fees for the account, which is fantastic. International money wires are even free!
When you open a Brex Cash account, you also receive a Brex Mastercard that lets you earn rewards on your business spending. Unlike a traditional credit card, you “pay” your balance every day, via automatic debits from your Brex Cash account. Basically, you get the protections of a credit card, but the cash flow management benefits of a checking account — plus great rewards!
Right now, you can earn 80,000 points when you open an account and spend $1,000, plus an additional 30k points for linking other business accounts and completing an additional $2,000 in spend. That’s a total of 110,000 welcome bonus points, not counting the points you’ll earn on your spending! At a minimum, those points can be exchanged for $1,100 cash-back or tons of airline miles, making this a great opportunity for all kinds of businesses.
Applying for a Brex Cash account
Most types of businesses are now eligible for Brex Cash accounts, with the following restrictions:
- Your company must be organized and registered in the United States, and have a valid EIN
- Your company must be a C-corp, S-corp, LLC, or LLP — because of the way Brex handles underwriting, Sole Proprietorships (even if registered in their locality and in possession of a valid EIN) are not eligible at this time
- Your company must not be in an industry where there are additional Federally-imposed financial regulations (gambling, marijuana, guns/ammunition, prostitution, etc.)
Because Brex is for businesses, it was important to apply for the older version of the card using a business email address, so I would recommend doing that this time around as well. Brex doesn’t make mention of it, but I don’t think it’d hurt.
Once you start the application, you’ll be prompted to choose which “version” of Brex you’d like. Note that the “30-day credit card” options have additional funding and financing requirements. Most businesses should choose Brex Cash (which will still come with a credit card, just with daily statements).
Frequently Asked Questions about Brex Cash accounts
Brex Cash is a little different than other business cash management accounts, and this is an offer that seems almost-too-good, so it’s understandable that you’d have questions!
How many bonus points can I earn?
There is no cap to how many points you can earn for your business spending with Brex. In terms of the welcome bonuses, they are structured as follows:
- Earn 80,000 bonus points after spending $1,000 on your new Brex Card (this is an exclusive, limited time offer for OMAAT readers)
- Earn 10,000 additional bonus points after spending $3,000 on your next Brex Card within the first three months
- Earn 20,000 bonus points when you link payroll to your Brex Cash account
On top of that, when you have a Brex Cash account you’ll earn points for using your Brex Card to make purchases for your business:
- 8x on rideshare (Uber, Lyft, taxis, scooters)
- 5x on travel booked through Brex Travel
- 4x on restaurants and dining
- 3x on recurring software charges, like Salesforce
- 3x on eligible Apple products through the Brex portal
- 1x on everything else
As statements close daily, you’ll earn bonus points almost as soon as your purchases post, rather than having to wait all month.
Is there a credit pull when you apply for Brex Cash?
No. Brex doesn’t require a personal guarantee from founders/business owners, so there’s no credit pull when you apply for a Brex Cash account. This won’t in any way be reflected on your personal credit report (though they will report your good standing to corporate credit bureaus.
On the application, you will be asked for your social security number, but that’s simply due to federal data-collection requirements.
Can you open a Brex Cash account for multiple businesses?
If you run multiple businesses then you can absolutely open a Brex Cash account for each formally-registered business, and you’d be eligible for a bonus on each account. The limitation is per business, and not per person.
I’ve opened my Brex account, why does the tracker only show 30k points?
The tracker displays progress towards the standard 10,000 and 20,000 point bonuses for completing certain activities with your new Brex Cash account. These are separate from the 80k points you can earn exclusively from OMAAT.
Rest assured, as long as you used the OMAAT links on this site to apply, your account will still be eligible for the additional 80,000 bonus points once you’ve met the $1,000 minimum spend.
How can I use Brex points?
Brex points earned with the Brex Cash can be redeemed in one of four ways:
- Through the mileage transfer feature, at the rate of one airline mile per Brex point (Recommended)
- For cash back, at the rate of one cent per Brex point (Recommended alternative)
- For gift cards, at the rate of one cent per Brex point
- Through the travel portal, at the rate of one cent per Brex point
If you are interested in transferring Brex points to airline miles, you can currently choose from the following programs:
- Aeromexico Club Premier
- Air France-KLM Flying Blue
- Avianca LifeMiles
- Cathay Pacific Asia Miles
- Emirates Skywards
- JetBlue TrueBlue
- Qantas Frequent Flyer
- Singapore KrisFlyer
How do the partner perks work?
It depends on the partner program.
For AWS, once you link your accounts, you’ll receive $5,000 (or more) as statement credits when you pay with your Brex account — even for existing AWS users! Slack credits work in a similar way.
For other partners, such as Gusto and Quickbooks, the discounts are for new accounts only. Each cardholder perk displays the specific terms when you click on the partner logo in your Brex account, and the Brex Support team is happy to answer specifics over chat as well.
Additional details on Brex Cash & Brex Rewards
If you still have questions, check out these more-detailed OMAAT posts with everything you need to know about Brex: