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Reviews / Brex Edition №07 · 11 March 2026 · 1,700 words

Brex,
reviewed.

SMB-business neobank built around corporate cards + spend management. Brex Cash uses partner-bank sweep for FDIC pass-through up to $6M+.

Editor
Stephan Kulik
Founded
2017
EU customers
—
min read
7 / ~1,700
Disclosure Brex does not pay us a referral fee. This review is purely editorial. See the methodology → brex · no_commission
85/100
Brex itself is not a chartered bank — Brex Cash sits at Choice Financial, Lead Bank, and Citi, swept across multiple FDIC partners.
Rank #24 / 60US SMB neobank (partner-bank)
CategoryUS SMB neobank (partner-bank)
LicencePayment
BrexEdition №07
Licence
Payment institution
Partner banks (no Brex bank charter)
Deposit protection
USD 6,000,000 (FDIC pass-through sweep)
FDIC pass-through (Choice Financial + Lead Bank + Citi)
Customers (EU)
—
As of 2026-Q1 — // TODO(verify)
IBAN
US (USD)
USD primary; multi-currency virtual cards
01
Reviews

Brex, in full.

What Brex is, in 2026

US SMB-business neobank. Corporate-card-first, spend-management heavy. Pivoted from SMB to mid-market/enterprise focus 2022. ~$12B valuation; ~$1.5B raised.

Safety and regulation

Partner-bank model; FDIC pass-through up to $6,000,000+ via custodial sweep across Choice Financial, Lead Bank, and Citi. Brex itself is not a chartered bank.

Who Brex is for

Use Brex if: you're a VC-backed US startup or mid-market company that wants corporate cards + spend management together. Use Mercury for simpler partner-bank checking; Bluevine for lower- mid-market with high-yield checking.

02
Pricing

Brex's plans, side by side.

Brex Essentials
Custom /mo
Free tier
  • Free tier
Brex Premium
Our pick
Custom /mo
Per user
  • Per user
03
Scorecard

How we got to 85.

85/100
Same six dimensions we apply to every neobank in the index. Weights published; unchanged within an edition.
Regulation & safetyLicence class · DGS · resilience
25%64
Pricing & feesTransparent and competitive
20%88
Hands-on UXExtended primary-account test
20%85
FeaturesVaults · stocks · crypto · insurance
15%90
App stores iOS 4.6 · Android 4.4
10% 90
04 — Verdict

The default for VC-backed US startups.
Corporate card-led, spend-management heavy, FDIC pass-through up to $6M. Not a chartered bank.

Brex is a US SMB-business neobank — corporate-card-led, with deep spend-management and AP-automation tooling. Brex Cash is a partner-bank model: deposits sit at Choice Financial Group, Lead Bank, and Citi, with FDIC pass-through up to $6,000,000+ via custodial sweep. Brex Corporate Card is issued by Sutton Bank + Emigrant Bank. Brex Treasury offers money-market-fund yield (~5%) — investor-protected (SIPC), not FDIC. Y Combinator alumni; ~$12B valuation; ~1,200 employees. The default for VC-backed US startups + mid-market companies. Use Mercury instead if you want simpler partner-bank checking; use Bluevine if you want lower-mid-market business checking with high-yield.

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Edition №07 · Updated 11 March 2026