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Why Brex is no longer qualified to be our bank:

We’ve put $millions through Brex cash/cards and will almost certainly leave after reading this. This doesn’t affect us (I think?) but that they’d do something like this in this way is a breach of trust that signals bigger problems down the line. What is “Empower” and why would I believe they won’t sunset the current Brex offering to push some upmarket sales nonsense on us as it that new thing becomes the focus?

We had kind of outgrown Brex anyway, but this is sad to see. What really irks me here is that I know my first company, a bootstrapped e-commerce thing that was a healthy “small business” would have been axed by this, but the current one is big enough that they wouldn’t want to lose us. Just doesn’t sit right with me.

I appreciate how tough this decision probably was, but I hope they properly modeled who else they’d lose via loss of faith, like us.


Is it a bank, though?

I don't know Brex but looking around their website they seem to be a fintech company but not a bank (they don't seem to have a licence)


Brex cash is functionally a bank account. Department-specific Brex cards are useful and it integrated well.

Our “real” bank has such a clunky interface that we started using Brex cash because it was a little easier, and over time drifted more to that account.


A bank is a licenced and highly regulated company. This is important, especially when things go wrong...


There is a world of regulatory difference between a prepaid plastic reseller and a proper bank, no matter how similar it might look on the surface.


We’ve put $millions through Brex cash/cards and will leave over this. What’s the best deal Mercury can offer us to switch? yetis-extreme-0j@icloud.com


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