4 ms·

They seem to get quite popular, also reaching out to folks i know to hire recently. I was always confused by the name... who thinks Brex is a good choice? I me

by kerng 6y ago

They seem to get quite popular, also reaching out to folks i know to hire recently. I was always confused by the name... who thinks Brex is a good choice? I mean Brexit was already a big thing in 2017.

texasbigdata 6y ago
It's not really a bank. They give you 15% of your cash balance as credit and sweep the payment out of your account at the end of the period (which the sales guys conveniently forget to tell you. No shit the guy said, after being prodded about maybe getting a reference since they were not being 100% truthful about terms while we signed up "well AirBnb didn't ask, we don't feel a big obligation to say more"). I mean it's fine, but "hey we autopull money out of your bank account" should maybe come up. So kinda cool company but definitely not straight forward. Had another sales guy there after we signed up lie about a different product offering. Know a fair bit about the FDIC and kept asking questions and just got foggy and untrue answers. Slimy. Wish we didn't sign up. Edit: they lied about the process around our AWS credit as well. We ended up getting it, but it was nothing like the described. Could have done the same thing with Silicon Valley Bank. This was the most annoying because it was what pushed us past the zone of indifference towards their service, I asked a handful of times for details for how it worked, and they guy definitely told me white lies to get a sign up.
- adenta 6y ago
  Would love to learn some more about your experience. We use Brex, and this makes me nervous.
  - texasbigdata 6y ago
    Maybe it was just bad luck. Who knows. 99% satisfaction there still is a chance for a bad experience. We signed up during quarantine, if that helps. Not to make excuses for them but maybe the sales team was feeling the pressure of what ended up being a round of layoffs. But this is just speculation.
    - adenta 6y ago
      > They give you 15% of your cash balance as credit and sweep the payment out of your account at the end of the period What does this mean, specifically?
      - texasbigdata 6y ago
        From what I understand: You have $100 You get $15 in credit You then spent $7 that month Brex takes $7 from your bank account to pay itself You have $93 at the end of the month Your credit line is now ~$14 So it's not too dissimilar from a credit card card, but it's also basically a prepaid debit card and they go out of their way to hide that.
- deleted 6y ago
  [deleted]
gregcoombe 6y ago
"Hey, should I put this on my personal card?" "No, just Brex-it!"
- rvz 6y ago
  I see what you did there. Well played. EDIT: Here we go again, lack of sense of humour including puns on HN as well as the pun-ished 'B' word.

by kerng 6y ago

texasbigdata 6y ago

It's not really a bank. They give you 15% of your cash balance as credit and sweep the payment out of your account at the end of the period (which the sales guys conveniently forget to tell you. No shit the guy said, after being prodded about maybe getting a reference since they were not being 100% truthful about terms while we signed up "well AirBnb didn't ask, we don't feel a big obligation to say more"). I mean it's fine, but "hey we autopull money out of your bank account" should maybe come up. So kinda cool company but definitely not straight forward. Had another sales guy there after we signed up lie about a different product offering. Know a fair bit about the FDIC and kept asking questions and just got foggy and untrue answers. Slimy. Wish we didn't sign up. Edit: they lied about the process around our AWS credit as well. We ended up getting it, but it was nothing like the described. Could have done the same thing with Silicon Valley Bank. This was the most annoying because it was what pushed us past the zone of indifference towards their service, I asked a handful of times for details for how it worked, and they guy definitely told me white lies to get a sign up.

adenta 6y ago
Would love to learn some more about your experience. We use Brex, and this makes me nervous.
- texasbigdata 6y ago
  Maybe it was just bad luck. Who knows. 99% satisfaction there still is a chance for a bad experience. We signed up during quarantine, if that helps. Not to make excuses for them but maybe the sales team was feeling the pressure of what ended up being a round of layoffs. But this is just speculation.
  - adenta 6y ago
    > They give you 15% of your cash balance as credit and sweep the payment out of your account at the end of the period What does this mean, specifically?
    - texasbigdata 6y ago
      From what I understand: You have $100 You get $15 in credit You then spent $7 that month Brex takes $7 from your bank account to pay itself You have $93 at the end of the month Your credit line is now ~$14 So it's not too dissimilar from a credit card card, but it's also basically a prepaid debit card and they go out of their way to hide that.
deleted 6y ago
[deleted]

gregcoombe 6y ago

"Hey, should I put this on my personal card?" "No, just Brex-it!"

rvz 6y ago
I see what you did there. Well played. EDIT: Here we go again, lack of sense of humour including puns on HN as well as the pun-ished 'B' word.