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What is statement underwriting?

Statement underwriting is an alternative solution to connecting your bank account to Brex when it is not possible to do so. It is accepted on a case by case basis by our support team under the following circumstances:
  • Your bank is not supported by Brex
  • You are having persistent issues connecting your bank to Brex
  • You prefer not to connect your bank to Brex
If you are having issues connecting your bank to Brex, statement underwriting is a temporary solution until the connection is fixed.

How it works:


Because Brex will not have visibility into your updated cash balance, you will need to send Brex the following documents in order to maintain your account limit:
Once you have been approved for this alternative, Brex will reach out to you via email at the beginning of each month with a secure link for uploading. Please note that the minimum cash balance requirements and/or monthly sales requirements will also increase on this alternative.

Please reach out to our support team to find out if you are eligible.

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©2021 Brex Inc. “Brex” and the Brex logo are registered trademarks.

The Brex Mastercard® Corporate Credit Card is issued by Emigrant Bank, Member FDIC. Terms and conditions apply. See the Brex Platform Agreement for details.

Brex Inc. provides a corporate card. Brex Treasury LLC is an affiliated SEC-registered broker-dealer and member of FINRA and SIPC that provides Brex Cash, a program that allows customers to sweep uninvested cash balances into certain money market mutual funds or FDIC-insured program bank accounts. Investing in securities products involves risk, including possible loss of principal. Neither Brex Inc. nor any of its affiliates is a bank. Please see brex.com/cash for important legal disclosures.

Terms subject to change. Brex Inc. provides a corporate card. The Brex Mastercard® Corporate Credit Card is issued by Emigrant Bank, Member FDIC.

Brex Treasury LLC is an affiliated SEC-registered broker-dealer and member of FINRA and SIPC that provides Brex Cash, a program that allows customers to elect to sweep uninvested cash balances into certain money market mutual funds or FDIC-insured bank accounts at program banks. Investing in securities products involves risk, including possible loss of principal. Brex Treasury is not a bank and your Brex Cash account is not a bank account. Please see brex.com/cashfor important legal disclosures. Past performance is not necessarily indicative of future results.

You could lose money by investing in a money market mutual fund. Although the fund seeks to preserve the value of your investment at $1 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund and you should not expect that the sponsor will provide financial support to the fund at any time. Although the fund’s board has no current intention to impose a fee upon the sale of shares or temporarily suspend redemptions if the fund’s liquidity falls below certain levels, the board reserves the ability to do so after providing at least 60 days’ prior written notice to shareholders.

These money market mutual funds are suitable for investors who are seeking as high a level of current income as is consistent with preserving capital and maintaining liquidity.

Uninvested Balances in your Brex Cash Account will initially be aggregated with Uninvested Balances from other Brex Treasury customers and deposited in a single account at Radius Bank (the “Clearing Bank”), an FDIC-insured federal savings bank. Within two business days funds are transferred to a disbursement account at a Brex Treasury Third-Party Service Provider (the “Settlement Account”), and then swept automatically into omnibus deposit accounts established by Brex Treasury in its name on behalf of Brex Treasury customers at designated “Program Banks”. Only the first $250,000 in aggregate deposits at the Clearing Bank will be subject to FDIC coverage. FDIC coverage does not apply to deposits while at the Clearing Bank or any account at an intermediary depositary institution. Deposits that are in the Settlement Account while in the process of being swept to or from a Program Bank will be subject to FDIC coverage of up to $250,000 per Customer (aggregated together with other deposits, if any, of the Customer at the bank holding the Settlement Account).

Brex Treasury is not an investment adviser, and therefore investors should consider the investment objectives, risks, and charges and expenses carefully before investing. Brex Treasury LLC does not charge transaction or account fees. However, money market funds bear expenses and fees. See program disclosures and the applicable fund prospectus for details and other information on the fund. Contact us for a copy of the fund prospectus and recent performance data. You should read the prospectus carefully before investing.

Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.

Brex Cash is not available to all investors. This is not an offer, solicitation of an offer, or advice to buy or sell securities, or to open a brokerage account in any jurisdiction where Brex Treasury LLC is not registered.