Yup, I just got my letter. Brex is obviously not interested in serving startups.
If there's one thing that a startup needs in a bank or cash management account, it's stability. Only a month ago Brex sent a letter saying that they were changing our routing number / account number for inbound transfers, because, it seems, they changed the bank they were working with. This was a giant pain because we needed to notify all of our customers that our payment info had changed. It's embarrassing.
Same thing happened with Azlo a few years ago. They were great, until they changed the underlying bank, and then they went out of business.
I'm done with internet "banks" until I see a few years of stability. Going back to a traditional bank. Traditional banks are terrible, their fees are unreasonable, but at least they won't keep jerking me around.
100%. It feels like a bait and switch. They say “we created brex because it’s hard to get banking as a startup”, and then what do you know… now they don’t want to bank startups and are giving them the boot.
It’s just annoying as hell. A bunch of promises but then the opposite actions.
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[ 352 ms ] story [ 665 ms ] threadIf there's one thing that a startup needs in a bank or cash management account, it's stability. Only a month ago Brex sent a letter saying that they were changing our routing number / account number for inbound transfers, because, it seems, they changed the bank they were working with. This was a giant pain because we needed to notify all of our customers that our payment info had changed. It's embarrassing.
Same thing happened with Azlo a few years ago. They were great, until they changed the underlying bank, and then they went out of business.
I'm done with internet "banks" until I see a few years of stability. Going back to a traditional bank. Traditional banks are terrible, their fees are unreasonable, but at least they won't keep jerking me around.
It’s just annoying as hell. A bunch of promises but then the opposite actions.
What are people using for dynamic credit cards for Saas?