BrexReviews of brex.com

They say they’re a bank for startups but definitely not the case. Right in the middle of fundraising we get an email our account is being closed due to not having $1m deposited or revenue and we have a month to find a new one. Then they must have seen how many people got pissed because the ceo then sends a cover my ass email trying to explain it more. Such bs. Last thing founders need is some pompous company saying they’re “focused on founders” only to get kicked to curb because we’re not at their standards.

I have had to fight and fight with this bank even to just get money in. My business got a huge account for us and I needed my deposit ability to go up to 33k. It took me weeks to accomplish this with Brex. They said I needed to use my debit card more to have the ability to have that much of a deposit. But I countered " How can I use it more if you won't allow the deposit??" After 4 weeks they finally allowed the deposit. Now they are closing all Small Busjness accounts and it begs me to wonder if they even know what small business is! Anyone making under 500k a year cannot get an account. Or if you are a tech start up. I train Service Dogs and that isn't good enough for them. I am annoyed to the max because they said we have till August to close the account but I can't deposit my checks now at all and we are 2 months away from the deadline to get the account closed. Not only are the pulling the rug out from under all these businesses but they are taking away services before the deadline and crippling payroll for everyone. Don't do it, they have terrible communication and are doing shady business by dropping services before the deadline.

Brex left me out to dry as a Small business owner. They told me I have until August to close out my account, but out of the blue they stopped accepting my direct deposit and checks. I can't even run payroll, because I don't make enough money to meet their new requirements. I regret ever trusting this company.

I have used Brex for over a year now for my business and have very little in terms of banking needs. As a small business owner, having an easily accessible banking account and virtual debit cards provisioned when I needed them was fantastic. Brex abruptly announced they are no longer supporting small businesses and are automatically closing all accounts by early August unless they meet the following criteria: - Received an equity investment of any amount (accelerator, angel, VC, or web3 token); - More than $1 million a year in revenue; - More than 50 employees; - More than $500k in cash; - Tech startups who are on a path to meeting the criteria above are referred by an existing customer or partner. I am currently in the middle of relocating my business and having the rug pulled from under me while in the middle of this process has left a bad impression. This short-term decision made by Brex has significantly affected my business's infrastructure and made it much more difficult to handle an already involved process. If you are a large tech company or VC-funded, maybe Brex will work for you; then again, there are probably better banking options for businesses that have reached that scale. In short, I'm disappointed with how Brex has handled this considering how it was originally sold as a great option for small businesses.

Opened a Brex account, provided all legal information, funded my account and started to do business. I use Stripe as my merchant. At first things seemed great, then 2 months in, I received an email that my account will be closed, because the company strategy has changed. They gave me 2 months and suggested BlueVine. No explanation. It took several emails to learn that they are targeting bigger revenue, and not small startups or small business owners. The horror happened when I tried to move my funds. Suddenly I had to verify my identify. I was on the phone with a BlueVine agent linked into a call with Brex. For more than 1 hour the Brex agent was unable to verify my account identify. He would ask for my name, and then it cannot be found. For my business name and then it cannot be found. Then for my phone number, and it cannot be found. Then he asked me for the last transaction, and I gave that, only to learn that he changed his mind and will send me a text verification which I never got. It ended in a yelling match and was a horrible experience. Only when I uploaded a photo of my drivers license back and forth (through a link they send using my webcam) and they took a 3D face map through my webcam, was my account approved so I could pull my own funds. To the horror of the BlueVine agent and myself, we found another way to transfer my funds. Brex seemed like the cool kid on the block, only to learn that they are indeed another power-hungry-entity with outsourced support that has no clue what they are doing. DO NOT GO WITH BREX! If you are a small business owner go with BlueVine or bank locally. Getting funds in, was no problem. Getting your funds out, is a nightmare!

DO NOT bank with Brex, ever! Run! They have decided to close accounts on thousands of people with very little notice. I banked with them for almost two years and had the rug pulled out from under my business. At first I thought the snarky email was spam because it was so unbelievable, but it is all true.. Here are some alternatives I found to be pretty good: Mercury, BlueVine, Relay, Novo.

They literally kicked me out. A simple email saying you got until August 15 to withdraw your funds. Really??? That's your solution for micro business. Useless. Not recommended at all. Stay away they can update their terms and condition and ruin your business.

After years of being a client of Brex they have decided to stop the ability to add payments to my account completely crippling by business. They then informed me that they are shutting down my account due to them no longer supporting small businesses.