Ready to get started with Brex? Follow this link - www.brex.com/partners/ledgergurus/
@talkwithalana74892 жыл бұрын
I recieved my Brex today. Great info! I have to add funds now😀😀😀😀
@djphinesse3 жыл бұрын
My Brex looks -just like yours. I just purchased some facebook ads with my Brex card.
@talkwithalana74892 жыл бұрын
Did you add money?
@pyperlembke3 жыл бұрын
This is very helpful. Thank you!
@LedgerGurus3 жыл бұрын
Glad it was helpful!
@DynastyLandFootball2 жыл бұрын
this is probably a dumb question but we are a new small business & we are wondering if we can use a company like Brex, Mercury, TransferWise, etc as a Bank for our business or do we NEED to establish a real bank account for our business? We prefer this but aren't sure. Thank you!
@LedgerGurus2 жыл бұрын
Great question and great timing. We are really close to publishing a video that reviews Neobanks. Short answer is you can absolutely use one of these to run your business. We will be going through the pros and cons in that video which should be published in the next few weeks.
@DynastyLandFootball2 жыл бұрын
@@LedgerGurus THANK YOU! love a good quick response :)
@greenmattersec95352 жыл бұрын
Hi, we are non-US citizens and we opened an LLC, we live in Ecuador, and we're registered in WY. The company that created our business online (First Base) suggest Brex as a bank, my questions are: do you know if we can receive our credit card overseas (physical one) and if these accounts are friendly to open a Paypal account? and last, do you know if as an LLC we can open multiple accounts instead of just one? Many thanks in advance! Great video!
@LedgerGurus2 жыл бұрын
OK, here is what we found. There isn't a clear answer. From the Brex Card page "Brex is available to corporations and other forms of non-individual liability companies. Brex underwrites with Employer Identification Numbers (EINs), not Social Security Numbers, so consumers, sole proprietors, and other unregistered businesses are ineligible. Only companies organized and registered in the United States (such as C-corps, S-corps, LLCs, or LLPs) may apply for a Brex account. Consumers, sole proprietors, unincorporated partnerships, and companies registered outside the United States are not permitted to use, or attempt to open or use, a Brex account. There are also some prohibited activities and businesses that Brex cannot support." We tried to get clarification from Brex support and they told us the following: "There are some industries that aren’t eligible for Brex accounts but we do not have exhaustive lists of who can and can't apply. The best way to find out would be to start the application process and see if the business fits our requirements." The application is fairly straight forward so you could apply and see what happens.
@greenmattersec95352 жыл бұрын
@@LedgerGurus Thanks a lot for your detailed explanation, right now we are waiting for the EIN number and once we have it, we'll apply. Great info!
@midshipsport2 жыл бұрын
yeah their verification takes an eternity
@DynastyLandFootball2 жыл бұрын
out of Brex, Mercury & TransferWise - which company would you suggest the most for a small business to bank with? we just got denied by Brex in our application process & they didn't inform us as to why. So frustrating..
@LedgerGurus2 жыл бұрын
Take a look at Mercury or Novo next.
@ThePersonalDevelopme3 жыл бұрын
They did not ask for my D&B. How does this increase my paydex?
@LedgerGurus3 жыл бұрын
We will reach out to our contacts and Brex and see if we can get some details.
@LedgerGurus3 жыл бұрын
After chatting with Brex support, this is what I received. They do ask for your EIN and submit to the following: Experian, Dun & Bradstreet and Equifax. See this Brex blog for additional info on business credit: www.brex.com/blog/business-credit-score/
@ThePersonalDevelopme3 жыл бұрын
@@LedgerGurus thank u! I couldn’t find this when I was looking through the site
@rubenmartinez26773 ай бұрын
Does Brex give you a credit limit or use cash balance as a cap up?
@LedgerGurus3 ай бұрын
Brex will do underwriting to determine your credit limit. Look at these two articles for more details: - www.brex.com/support/brex-credit-limits -www.brex.com/support/company-credit-limit
@missiongold81882 жыл бұрын
For a business, do banks usually dislike credit repair companies or they don't really care as long as you have a relationship with them and pay off credit cards on time?
@JodyLeafy-ue2qw Жыл бұрын
I wanted to ask a question if you had a bad experience with this financial institution reply please
@LedgerGurus Жыл бұрын
Brex has been great. The only negative thing we've seen over the years was their move away from small business. They did a purge of small businesses in 2022 and only focus on startups and scaling businesses now. See www.brex.com/support/what-are-the-requirements-for-brex for their requirements.
@JodyLeafy-ue2qw Жыл бұрын
What is the first 6 of the Brex cards
@LedgerGurus Жыл бұрын
@@JodyLeafy-ue2qw can you elaborate on your question? Where did you see the first 6?
@jocelynmorales69212 жыл бұрын
Can you split transactions between different codes & can one make expense reports ?
@LedgerGurus2 жыл бұрын
Brex does not have the ability to split a transaction, but you could do that in the accounting software once it syncs. There isn't a report feature, but there is a review capability. You could also route Brex to an expense management app like Expensify if you needed the full approval workflow.
@anthonymcelveen39133 жыл бұрын
Hello I applied for a brex card got approved I set up a virtual card when or how long will it be till my credit card comes
@LedgerGurus3 жыл бұрын
It takes about a week. You should be able to use your virtual card immediately.
@lanellbell45313 жыл бұрын
How much was you approved for
@LedgerGurus3 жыл бұрын
@@lanellbell4531 read support.brex.com/how-do-brex-credit-limits-work/ for how Brex determines credit limits
@anthonymcelveen39133 жыл бұрын
I got a bank card how do I apply for credit with them
@djphinesse3 жыл бұрын
@@anthonymcelveen3913 They only issue credit cards. You should get it in 7-10 business days.
@kexinsmith35413 жыл бұрын
Are there any negative sides to Brex?
@LedgerGurus3 жыл бұрын
Every product has some downsides. The biggest thing a business needs to consider with Brex is the variable nature of the credit limit as it is tied to bank balances. This generally isn't an issue as most businesses aren't putting their entire bank balance on credit cards, but something to watch for those that are utilizing a lot of credit.