Checkbook pro account definition3/9/2023 ![]() ![]() Within two business days, funds are transferred to a disbursement account at a Brex Treasury Third-Party Service Provider (the “Settlement Account”), and then swept automatically into omnibus deposit accounts established by Brex Treasury in its name on behalf of Brex Treasury customers at Brex's designated partner banks. Uninvested Balances in your Brex Cash Account will initially be aggregated with Uninvested Balances from other Brex Treasury customers and deposited in a single account at LendingClub Bank, N.A. After providing at least 60 days’ prior written notice to shareholders, the fund’s board reserves the right to impose a fee upon the sale of shares or temporarily suspend redemptions if the fund’s liquidity falls below certain levels. The fund’s sponsor has no legal obligation to provide financial support to the fund and you should not expect that it will do so at any time. An investment in the fund is not insured or guaranteed by the FDIC or any other government agency. The fund cannot guarantee that it will preserve the value of your investment at $1 per share. Past performance is not necessarily indicative of future results. Contact us for a copy of the fund prospectus and recent performance data. See program disclosures and the applicable fund prospectus before investing for details and other information on the fund. Yield is variable, fluctuates and is inclusive of reduced expense fees, as determined solely by the fund manager. The money market funds offered by Brex Cash are independently managed and are not affiliated with Brex Treasury. You could lose money by investing in a money market mutual fund. Sending wire transfers is free for Brex Cash customers, but the recipient’s financial institution may charge a wire receipt fee. Although Brex Treasury does not charge transaction or account fees, money market funds bear expenses and fees. Review the background of Brex Treasury or its investment professionals on FINRA's BrokerCheck website. Consider your company’s investment objectives and relevant risks, charges, and expenses before investing. Please visit the Deposit Sweep Program Disclosure Statement for important legal disclosures.īrex Treasury is not an investment adviser. Brex Treasury is not a bank, and your Brex Cash account is not a bank account. Investing in securities products involves risk. Please contact our sales team for more information.īrex Treasury LLC is an affiliated SEC-registered broker-dealer and member of FINRA and SIPC that provides Brex Cash, an account that allows customers to sweep uninvested cash balances into certain money market mutual funds or FDIC-insured bank accounts at Brex’s partner banks, such as JPMorgan Chase Bank, Member FDIC and LendingClub Bank, N.A., Member FDIC. Use of Brex Empower is subject to the Platform Agreement. Use of the Brex API is subject to the Brex Access Agreement. See the Brex Platform Agreement for details. provides the Brex Mastercard® Corporate Credit Card, which is issued by Emigrant Bank, Member FDIC or Fifth Third Bank, NA., Member FDIC. Terms and conditions apply and are subject to change.īrex Inc. “Brex” and the Brex logo are registered trademarks.īrex products may not be available to all customers. ![]() They also tend to come with high interest rates. This means the financial service provider can offer customers low or no account fees, including on Automated Clearing House and wire transfers. It also makes it easier to monitor all your finances in one place, saving you time and improving the efficiency of your cash management.ĬMAs benefit from lower overheads and operational costs as they are online-exclusive banking services rather than accounts from traditional banks and financial institutions. They can also include FDIC insurance, which is often available through a third-party bank, as well as a credit line that attaches to your investment securities.Īll this eliminates the need to transfer money between a checking account and a savings account. You can conduct all your transactions from a single account instead of using separate accounts for different banking functions.Ĭommon features include a debit card, checkbook, money transfers, bill payments, and overdraft programs. ![]() One of the biggest benefits of a CMA is that it simplifies the management of finances. ![]()
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