331–340 of 350 posts
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1. Zelle: all of the big banks have it. Credit unions are slower to adopt. 2. Mobile apps: big bank mobile apps are pretty great these days. 3. Credit cards: Bank of America rebates 2.625% for top customers. 4. Bill pay: the big bank bill pay integrations with vendors and ebills is better
FWIW, Schwab doesn't have Zelle
Brex founder here. We've made the difficult decision to no longer offer services to the small business market. Back in April we launched Empower, and we decided to put the full weight of Brex towards building the best global payments platform for tech startups and larger companies. With that, we realized we couldn't do a great job serving the small business community at the same time. This has been an incredibly diff…
What language is this, marketing? I can't be the only one who finds these heavily sugarcoated weasel words annoying.
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I don’t understand why you’re still not laying out the new criteria for being a Brex customer? It’s a wasted opportunity. Whoever approved this communication squandered a chance to reframe what Brex is now about. Had the announcement said something like, “what’s the new criteria? $1m deposits … blah blah blah … we actually lose money on smaller customers … yadda yadda … it’s not sustainable”, you could have establish…
Brex founder here. Let me provide more context on what happened, and how this actually allows us to serve startups better. In 2018, we launched Brex and started serving the fastest growing companies out there (DoorDash, Airtable, ScaleAI, Flexport, etc). As we expanded in 2020, we decided to start serving small businesses. We onboarded tens of thousands of traditional brick-and-mortar companies to Brex, along with st…
Now, I'm not so sure. And I'll definitely have to caveat it with this event. Was that worth it?
Word of mouth is highly influential for how startup founders pick products and I feel like this will be super damaging for your brand.
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Perhaps they know they can’t offer a cost that makes sense / is competitive for those customers and would rather devote resources to a product that is competitive?
Why does the cost have to be competitive? Price it at a level that covers all costs. If the price is uncompetitive, 99% of users will not take it, however, that 1% that _really_ need to continue using Brex (for whatever tail reason) can continue to until they're ready to migrate.
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> if you share your password with Plaid, and Plaid is breached, and someone uses your banking credentials to drain your account, I think a bank could wash their hands of it and walk away in that situation. is "Plaid is breached" necessary? Or is it enough for bank to be aware that you used Plaid?
I don’t know, I’m not a lawyer, just a concerned bank customer that read my TOS. My guess would be that your bank account being compromised would need to flow in some way from you sharing your password. But, it might be a matter of “who has the resources to make a claim in court”, which could be a challenge for most people if they just lost their bank account (hell, it would be hard for most people even with access t…
It may not be enforceable, but in my case any use of Plaid or Plaid-like tool would allow bank to claim that they are no longer responsible for any fraud.
(for reference - I am from Poland, never encountered any nonscam asking me for my bank account, though banks have different variety of problems)
Brex founder here. We've made the difficult decision to no longer offer services to the small business market. Back in April we launched Empower, and we decided to put the full weight of Brex towards building the best global payments platform for tech startups and larger companies. With that, we realized we couldn't do a great job serving the small business community at the same time. This has been an incredibly diff…
As a startup CEO that uses Brex and hasn’t been kicked off I have to say that I’m strongly considering self-evicting. What a shitty way to handle this.
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Mercury rejected our LLC when we applied there yesterday so not sure where to go now (and no idea why we were rejected). Is there any reason not to go with Bluevine?
We accept LLCs at Every.io, which is a Mercury alternative: https://every.io/
I've been using Brex for a few years. I didn't ask for much beyond an Internet bank into which Stripe and clients could deposit income, and from which I could make payments. If they had said, "Below a certain balance, we'll need to charge you a fee," I likely would have paid it. The annoyance factor of switching banks, payment from my various vendors, etc., is not small. Instead, I got a completely out-of-the-blue e-…