Brex Cash: Third-party processing of payments incurs fees and may have built-in structural latency. Brex Cash is a business cash management account which runs on newly built core banking infrastructure which, instead of charging transaction fees, rewards its users for transacting through the platform. In addition to receiving points which can be exchanged for cash-back or travel miles, businesses earn a competitive industry leading interest rate on balances.
Mercury: Among the reasons why traditional banks have endured, despite their lack of agility, is their deposit insurance. Mercury offers API access, virtual cards and other tools including real-time cash analytics and programmatic payments for a digital bank account insured by the Federal Deposit Insurance Corporation (FDIC). The bank is built with tech startups in mind and offers business accounts with online features.
Signature Bank (for Chicago Startups): The Chicago-based Signature Bank (which is not affiliated with Signature Bank, New York), focuses on assisting primarily local entrepreneurs. They offer personalised support services to enable business owners to focus on growing their business.