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Brex Cash is a cash management account that gives business owners the option to save idle cash or invest it in money market mutual funds. There are no fees associated with Brex Cash, but saved money won’t earn any interest and invested funds have a low yield at 0.01%. But if your aim is to earn interest, your money will grow faster in a high-yield business savings account.
$0 per month
Fee
0.01%
APY
$0
Minimum deposit to open
APY | 0.01% If you invest in money market funds |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
Review by
Michael Benninger is a personal finance writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Blinkist, Business Insider and the Los Angeles Times. Michael graduated from Rowan University with a bachelor’s degree in business administration. When he’s not writing, you can usually find him watching movies, enjoying the outdoors or boarding planes to distant destinations.
Brex Cash is best for business owners who want a tech-forward bank account that can keep up with their changing needs. Its biggest draw is zero fees and the option to invest idle cash in money market funds.
But saved money doesn’t accrue interest and invested funds earn virtually no yield. You could potentially earn a high yield with a business bank account that earns interest out the gate.
Applying for a Brex Cash account only takes a few minutes:
Consumers, sole proprietors, and unregistered businesses are ineligible to open Brex accounts, but you can apply for one if you satisfy the following criteria:
You’ll need to furnish the following information during the application process:
Approval for your Brex Cash account might take a day or two.
Despite the benefits of Brex Cash, this account also has some serious drawbacks.
There are three ways to access your money: