Brex Relaxing Requirements

[Anonymous]

Just got an interesting email. As some of you might know I'm in love with this company so I'll say nothing and let the words speak for themselves:

Brex Cash now available to everyone

With our simplified application and new 'getting started' experience, any business [...] can now get access to Brex Cash in minutes.

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[FinStar]

@Anonymous - What are some of the things that you like/dislike about BREX Cash?

I wasn't aware of the previous requirements, so what did they do to make this product more flexible or attainable for business owners?

[Anonymous]

I had applied with them last year in the first half and got turned down even though I had a revenue generating LLC and it was connected to their platform.  After seeing your posting today, I have tried login a few times and each time I am getting an hour glass. I had it run for 10+ minutes without any luck.

[Anonymous]

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@FinStar wrote:

I wasn't aware of the previous requirements, so what did they do to make this product more flexible or attainable for business owners?

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I don't know. I'd assume they made underwriting less biased against small businesses. One oft touted criteria was having $100k of capital in a bank account.

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@FinStar wrote:

What are some of the things that you like/dislike about BREX Cash?

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Their banking experience is better than many institutions' (it's not even finished yet!) and I "Don't Do Business Without It". That's about as succinct as I can describe the experience without sounding like I'm advertising for them.

Edit: Oh and they support TOTP 2FA. I can't believe I have to mention that as an upside.

@Anonymous Try live chat with them if you can see the button during login. Their support team is god-tier.

[FinStar]

Thanks for expanding on that @Anonymous.

[Anonymous]

Thanks for this info. I applied with them on Friday underreview. So I'll update on any approval. 

[jaxstraw]

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@Anonymous wrote:

Just got an interesting email. As some of you might know I'm in love with this company so I'll say nothing and let the words speak for themselves:

Brex Cash now available to everyone

With our simplified application and new 'getting started' experience, any business [...] can now get access to Brex Cash in minutes.

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Isn't BREX CASH just a business bank account ?

[SMB85]

Just beware that Brex doesn't appear to like multiple accounts. I own several businesses and they closed two of the accounts (different businesses) without any notice. I still haven't received an actual explanation from them. Sure, they have a cool card and rewards program, but they're not a real bank.

[K-in-Boston]

Seems like the only change is that they are allowing LLCs now?

I looked at the card a while back (for my actual job, not for me personally) because of the discounts and rewards, but it was a total non-starter.  They require (required past tense?) permanent access to banking accounts and your accounting software, and also had fine print that stated that you agree this is the exclusive card you will use for your business otherwise all earnings will be 1x.  That seemed a bit crazy and no else requires that.  

I get the feeling their business model may be more about data mining than anything.  Has any of that changed?