Fired By Brex? Here’s The Good News
Thousands of small businesses were fired as customers by Brex in June 2022. The good news is that there is a better alternative.
As Relay Financial CEO Yoseph West puts it, the recent news from Brex is incredibly disappointing.
If you haven’t heard, the popular small business credit card company, Brex fired thousands and thousands of small businesses as customers in the middle of this month.
The reason behind the massive firing? Well, we’re not sure. Little explanation was given by Brex itself.
However, we can only assume that the rapidly-expanding credit card company overcommitted and frankly, overreached in its expansion efforts.
Now mom and pop shops, first-time entrepreneurs, and long-running family-owned businesses are essentially out of credit, and out of luck in a time of inflation and rising supplier costs.
But now that we’ve delivered the doom and gloom – we promised you good news as well.
The good news is that there is a better option for small and medium-sized businesses, and they’re offering $150 to make the switch from Brex today.
Let’s talk about Relay Financial.
Best Brex Alternative: Relay Financial
Relay Financial is an online banking and money management platform.
Straight from the bank’s website, Relay helps you stay on top of cash flow, get unparalleled clarity into operating expenses, and manage your team’s spending.
They are a relatively newer banking platform, opening in 2018, meaning they’ve designed a banking experience that’s built for the modern business owner.
Better yet, they cater to small and medium-sized businesses.
Here are a few perks:
- Business owners can create up to 20 individual checking accounts to organize expenses, income, and cash reserves (you can create a digital envelope system!)
- You can easily create physical or virtual cards with designated spending limits. For example, you can create a Marketing card that’s only used for marketing expenses.
- There is no criteria for business size in order to open an account
- No monthly account fees
- No overdraft fees
- Free ACH payments! That’s right… stop being charged with every supplier payment!
- They integrate easily with Xero, QuickBooks, Gusto, and more
Relay Financial is a great option for small businesses and is ideal for businesses with 1 to 100 employees.
It’s important to note though that Relay Financial only provides business checking accounts and debit cards – they do not offer credit or financing.
Want To Make The Switch?
Every U-Nique Accounting client utilizes a Relay business checking account – it’s part of our standard best practices.
If you’re ready to make the switch to an ACH-fee-less life, Relay Financial is making it easy for you.
Right now, they’re offering $150 for small businesses to make the switch from Brex.
Head here to open a Relay account today.
If you are one of the small businesses that have been impacted by Brex’s mismanagement, Relay can help.
They’re built for small businesses, and they’re simply good at what they do.
As a firm, we can’t recommend them enough.