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I can chime in. Lot of SF Bay Area startups just go with someone like Silicon Valley Bank. Their sign up process is antiquated and painful. Their integrations w
by sahaskatta 8y ago
I can chime in. Lot of SF Bay Area startups just go with someone like Silicon Valley Bank. Their sign up process is antiquated and painful. Their integrations with services such as QuickBooks or Xero is often unreliable. We had to put down a large sum in a collateral to simply be able to open a card. The online banking interfaces are super dysfunctional and slow. Corporate card rewards programs often suck. Customer support is super slow.
Signing up for Brex was super fast. Took like just a few mins. They integrate with accounting software pretty well. (Warning, still some bugs they have to work out.) We didn't need to put a collateral deposit to open a Brex card as it's a charge card, not a credit card. Their web dashboard is still very "v1" but it's already better than most banks I've used and it's getting better unlike most banks. Brex offers 4x points on ridesharing, 3x on restaurants, 2x on travel, 2x Recurring Software (SaaS), etc. Support? They respond to me on live chat even at 9 PM on a Friday in like 30 seconds. It's awesome.
- chrisseaton 8y ago> Brex offers 4x points on ridesharing, 3x on restaurants, 2x on travel, 2x Recurring Software (SaaS), etc. Why do card providers offer more points on some things than others? Aren’t their fees the same everywhere?
- dguaraglia 8y agoMost likely the product of some number crunching: what does seem to provide a competitive advantage at a relatively low cost? Giving tons on points on travel is a bad idea, as business accounts tend to spend a lot on travel. But giving 4x points on ridesharing isn't as bad idea (nobody spends thousands of dollars per month on ridesharing on a single card). I'm pretty sure the fees are not necessarily a factor in this calculation.