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Launch HN: Brex (YC W17) – Corporate Credit Card for Startups

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Re: Launch HN: Brex (YC W17) – Corporate Credit Card for Startups

#81
post #51

Got stuck in the signup flow. First, I was super sketched about giving you my bank details. After a while I found the tiny text that says you use a third party, but I couldn't verify that. I decided to trust you since you're a YC company, and put in my creds anyway. To log into my bank, they required me to send a verification code to my phone. The text never came, but your flow has no way to go back and either reques…

Curious who you would trust more: Brex or a 3rd party you may have heard of?

Re: Launch HN: Brex (YC W17) – Corporate Credit Card for Startups

#83
post #44

Love the concept and you also managed to nab a former coworker of mine. But: I highly recommend not having that per-user fee waive promo. You never know who might signup today. We would all happily pay anyway most likely :)

I highly recommend not having that per-user fee waive promo Correct. At $5/month per user I "assume" more people will sign up than if it were free. This is a corporate/business product, free does not yield more confidence.

Considering that Amex business charge cards are free for employees I would not have the same sentiment. Card issuers make lots of money on the % fee that merchants pay to process a credit card transaction.

Re: Launch HN: Brex (YC W17) – Corporate Credit Card for Startups

#84
post #51

Got stuck in the signup flow. First, I was super sketched about giving you my bank details. After a while I found the tiny text that says you use a third party, but I couldn't verify that. I decided to trust you since you're a YC company, and put in my creds anyway. To log into my bank, they required me to send a verification code to my phone. The text never came, but your flow has no way to go back and either reques…

This was a concern for me as well. Brand new relationship with a company: now here's all my most precious banking credentials. There needs to be a lot more assurances around this.

In our case, I used bank creds, and immediately changed them to something else.

One other point of feedback. The AWS rewards is a big draw, but you learn new conditions only after you sign up. I don't think it was intentional but it felt a little bit like false advertising. Be sure to state all the conditions upfront that are required to win the rewards.

Re: Launch HN: Brex (YC W17) – Corporate Credit Card for Startups

#85
post #79

Earlier quoted context omitted.

Because it’s a 3rd party (we use finicity) there are some issue with some people from time to time :/ Support should contact you soon to help fix it. Noted on making more clear that it’s a 3rd party!

was there any particular reason your team went with finicity? You might want to give https://plaid.com a shot. I am not affiliated with Plaid.

We tried - finicity serves intuit so it works better for business/corporate accounts. Plaid is better for consumers.

Re: Launch HN: Brex (YC W17) – Corporate Credit Card for Startups

#86
post #51

Got stuck in the signup flow. First, I was super sketched about giving you my bank details. After a while I found the tiny text that says you use a third party, but I couldn't verify that. I decided to trust you since you're a YC company, and put in my creds anyway. To log into my bank, they required me to send a verification code to my phone. The text never came, but your flow has no way to go back and either reques…

This was a concern for me as well. Brand new relationship with a company: now here's all my most precious banking credentials. There needs to be a lot more assurances around this. In our case, I used bank creds, and immediately changed them to something else. One other point of feedback. The AWS rewards is a big draw, but you learn new conditions only after you sign up. I don't think it was intentional but it felt a…

So the deal here is: you give us your bank credentials and we won’t require any kind of personal guarantee. Other cards wont get your bank data but will require you to personal guarantee. Fincity is used by intuit/quickbooks, that’s why we chose them.

About aws rewards - noted! Will improve clarity

Re: Launch HN: Brex (YC W17) – Corporate Credit Card for Startups

#87
post #80

Earlier quoted context omitted.

It works for existing customers! But it needs to be the first aws credits you’ve ever got. If you got AWS credits from someone else before, it wouldn’t be applicable.

I'm assuming it is $5k for the first year? Do these credits expire?

Yes - for the first year

Re: Launch HN: Brex (YC W17) – Corporate Credit Card for Startups

#89
post #81
post #51

Got stuck in the signup flow. First, I was super sketched about giving you my bank details. After a while I found the tiny text that says you use a third party, but I couldn't verify that. I decided to trust you since you're a YC company, and put in my creds anyway. To log into my bank, they required me to send a verification code to my phone. The text never came, but your flow has no way to go back and either reques…

Curious who you would trust more: Brex or a 3rd party you may have heard of?

I would probably trust the 3rd party if I'd used them before and not gotten scammed, but honestly I don't like sharing that info with anyone.

I understand why they want it, but I wish there were a better way than "here is write access to my bank".

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