How to switch from Brex: best alternatives for US businesses

Key takeaways

• The US commercial and corporate card market leads globally, accounting for over 42% of total commercial card transaction volume.¹

• Transitioning corporate card programs requires systematic execution; businesses must redeem all accumulated reward points before closure and run parallel card accounts to prevent immediate vendor payment failures.

• Airwallex Business Account provides a global alternative to Brex by integrating localized multi-currency accounts and borderless debit cards to eliminate foreign transaction fees while Ramp and Mercury offer domestic spend management just for US operations.

When Capital One completed its $5.15 billion acquisition of Brex, many finance leaders began re-evaluating their corporate card strategies.² Transitioning your company's entire spend management program to a new provider requires systematic execution to prevent vendor payment failures. This guide maps out a five-step migration path and compares the top alternative platforms to help your business make a seamless transition.

Why companies are leaving Brex in 2026

The consolidation of the B2B payments landscape reached a major milestone when Capital One completed the acquisition of Brex for $5.15 billion.² This transaction represents a definitive end to the high-growth venture-backed era of corporate spend management. It marks a transition toward institutional bank ownership, bringing several shifts in underwriting and credit limits.³ 

Many companies are leaving Brex because they worry about credit stability. Commercial banks operate under strict regulatory frameworks, which can lead to sudden credit limit reductions compared to independent fintech platforms.³ Business owners have previously experienced unexpected credit limit drops when their cash balances dipped, and transitioning to a traditional banking framework could make underwriting more conservative.³

On top of that, Brex has shifted its focus. The company typically requires businesses to have venture backing or a minimum of $50,000 in cash reserves to qualify for its charge cards. This qualification process locks out smaller and mid-sized enterprises that need corporate cards but operate outside the venture capital ecosystem. 

Foreign exchange costs are another pain point. Brex cards charge up to a 3% markup on foreign transaction currency conversions. This invisible expense drains corporate margins on international travel and cross-border vendor payments. To understand this landscape shift, read our Capital One-Brex acquisition analysis.

How to switch from Brex in 5 steps

Migrating to a new corporate card platform requires careful coordination. Working through this in order protects your cash flow and keeps your operations running without interruption.

1. Inventory all recurring charges and linked vendor subscriptions

The first phase of a successful card migration requires a comprehensive audit of all active corporate spend. Start by building a complete picture of every recurring software subscription, marketing channel, and vendor payment tied to your current cards.

Pulling the last 12 months of transaction history is the most reliable way to surface annual SaaS renewals and quarterly tax payments before they get missed. This central inventory becomes your blueprint for reissuing new cards and keeps critical software tools from going dark mid-migration.

2. Export historical transaction logs and ledger data

Once a corporate card account is terminated, access to historical transaction data and digital statement portals is gone permanently. Before initiating account closure, export all historical transaction logs, CSV data, and PDF statements, and disconnect any direct ledger connections to accounting platforms like NetSuite, QuickBooks, or Xero to avoid sync errors mid-transition. You’ll need these records for tax filings, year-end reconciliations, and audits down the road.

3. Redeem all accrued reward points before closing

Cancel before redeeming and every point you’ve earned disappears permanently with no grace period or recovery option. Check your accrued balance and complete all redemptions before submitting a formal closure request. Cash-back redemptions only deliver around 0.6 cents per point, so it’s worth comparing airline transfers, hotel partners, and software credits through Brex’s vendor marketplace to get closer to full value.

4. Issue parallel virtual cards on your new platform

To avoid payment disruptions on critical operational tools, businesses should issue parallel virtual cards on the newly selected platform before deactivating old cards. Creating a virtual card takes minutes and lets you assign dedicated card numbers with tight spending limits per department or vendor. Move your ad budgets and active marketing campaigns over first so those channels stay live while the rest of the transition wraps up.

5. Clear your outstanding balance and formally close the account

The final step in the migration process involves settling any remaining card balances and initiating formal account closure. Corporate charge cards typically require the total statement balance to be paid in full every 30 days. Once all pending authorizations are cleared and the balance is reduced to zero, the authorized administrator must contact support or navigate the settings dashboard to terminate the account and permanently deactivate all linked employee physical cards.

How to close my Brex account

To close the account, the primary admin needs to go into the settings dashboard and submit a formal cancellation request. Before doing that, head to the cards menu and deactivate every physical and virtual card assigned to employees so no new charges can land. You must also remove active API keys and disconnect integrations like Workday, Gusto, or Slack to stop automated background system syncs. Finally, transfer any remaining funds out of your cash balances (which previously formed part of Brex’s $13 billion in customer deposits) to your new Airwallex Business Account.

Five top Brex alternatives compared

When planning a transition, businesses must carefully compare alternative platforms across underwriting structures, card capabilities, and foreign exchange rates. A detailed comparison of the top alternatives helps finance teams select a provider that aligns with their specific operational needs. Read our complete Brex alternatives guide to explore more options.

This table highlights the significant structural differences between traditional charge card programs and modern global platforms. Charge-card alternatives like Ramp and Mercury focus primarily on domestic US corporate spending, but they often lack the deep international banking infrastructure needed to bypass foreign exchange fees. Global multi-currency platforms like Airwallex offer an alternative structure by combining localized currency accounts with fee-free business debit cards to eliminate cross-border conversion markups.

Brex vs Airwallex

The primary distinction between Brex and Airwallex lies in their foundational financial structures and geographic capabilities. Brex operates as a corporate charge card program that requires a minimum of $50,000 in cash reserves and is designed primarily for high-revenue, venture-backed organizations. When cardholders make international transactions, Brex applies a foreign exchange markup of up to 3% on conversions. On top of that, its banking services are built on US financial rails, limiting its utility for global businesses.

The Airwallex Business Account provides a global alternative by offering a Visa business debit card directly integrated with local multi-currency accounts. This setup lets businesses open local corporate accounts online across dozens of markets with no monthly fees or traditional transfer charges. 

Companies can hold, send, and spend currencies like USD, EUR, and GBP directly from their balances, bypassing the high exchange rates and forced conversion fees of traditional processors. For international transactions where a specific currency balance is unavailable, Airwallex automatically converts the funds at competitive interbank rates, offering significant savings over the standard 3% markup applied by charge cards. Using an Airwallex Global Account lets finance leaders consolidate global treasury on one platform.

Brex vs Ramp

Ramp is a popular domestic alternative that provides corporate charge cards with a strict 30-day payback period. Like Brex, Ramp does not require a personal guarantee or personal credit checks, basing credit limits on cash balances and corporate revenue. Ramp offers flat-rate 1.5% cashback on all card spending and includes powerful AI-driven spend controls and automated receipt-matching software. Read a detailed Ramp vs Brex comparison to understand their software trade-offs.

But Ramp has strict geographical limitations, as it is only available to registered US corporations, LLCs, and LPs. While Ramp supports international card transactions with 0% foreign transaction fees, it does not provide local banking details for international collections. For businesses that require localized invoicing, global payment collection, and direct multi-currency payouts, Ramp remains a domestic spend management tool rather than a comprehensive global treasury solution.

Brex vs Mercury

Mercury is a startup-focused banking platform that offers the Mercury IO business credit card, a corporate charge card providing 1.5% unlimited cashback. Underwriting for the IO card does not require a personal guarantee, but it does involve a thorough credit evaluation of the startup's financial history and venture-backing status.

Mercury is an excellent option for domestic US operations, but it introduces high costs when businesses expand internationally. The platform charges a 1% FX markup on transfers and applies a 3% international card fee on overseas card transactions. A solid strategy is to use Mercury for domestic reserves and venture debt, while integrating the Airwallex Business Account to protect margins on global trade. For a closer look at options, read our Novo vs. Airwallex review.

Brex vs BILL Spend & Expense

BILL Spend & Expense, formerly known as Divvy, is a corporate card and expense management platform with no subscription fees or per-user charges. Credit lines run from $1,000 to $5 million based on creditworthiness, and the platform connects directly into the broader BILL accounts payable and receivable ecosystem.

BILL Spend & Expense is only available to US-based businesses and doesn’t have the international infrastructure you’d find in a global-first platform. The program does not support local multi-currency accounts or international card issuance in local foreign currencies. International transactions made through the platform are routed through standard card networks, exposing businesses to fluctuating exchange rates and foreign transaction markups of up to 3%.

Alternatives to fintech corporate card programs

While fintech solutions have dominated recent discussions, some organizations find that alternative financial structures better suit their corporate setups.

Local credit unions and regional banks

For businesses seeking stability and hands-on banking relationships, regional banks and local credit unions offer traditional commercial credit lines and corporate card programs. The customer service and credit stability you get from these institutions is genuinely solid, but the tech side tends to lag. Most traditional corporate card programs require a personal guarantee, carry annual fees between $150 and $300 per card, and offer online portals that still lack real-time expense visibility or automated accounting syncs.

Payment processors with card issuance

Stripe and Adyen offer embedded finance tools that let you issue white-labeled physical or virtual cards to your own customers and partners. These platforms are built for developers and work well for creating custom financial products, but they’re not ready-made corporate card programs. 

Setting up a functional expense management program on these rails requires significant engineering resources, making them impractical for a standard business card migration. Under interchange-plus pricing, the card transaction cost formula is expressed as:

Platform-specific financial solutions

Many software ecosystems, from eCommerce platforms to gig-economy marketplaces, offer their own branded cards built for spending inside their portals. Cashback rates can be high and discounts on platform tools are common perks. But they’re too narrow to serve as a general-purpose corporate card since they don’t connect to external ERPs or handle broader company spend.

How to choose your next corporate card platform

Picking the right card comes down to understanding your geographic footprint, how you want underwriting to work, and what software integrations you actually rely on. Get those three criteria right and the rest of the evaluation gets a lot simpler.

First, companies must evaluate their international exposure. For companies operating entirely within the US, Ramp or Mercury offer solid rewards and clean accounting integrations, but if your business pays overseas vendors, travels internationally, or manages global software subscriptions, you need a platform built for multi-currency settlement without foreign transaction fees. At 3% per transaction, those markups add up fast as spend scales. Using corporate cards with native global rails is the most effective way to eliminate these costs.

Second, underwriting and liability models must match the company's financial profile. Corporate charge cards do not require a personal guarantee but demand substantial cash reserves or venture backing to qualify. If a business prefers to avoid underwriting friction or wishes to eliminate the risk of sudden credit limit reductions, a corporate debit card program linked directly to cash reserves offers a highly secure and controllable alternative.

Accounting integration is the last major factor worth getting right. Whatever platform you choose should connect natively to NetSuite, QuickBooks, or Xero and handle transaction categorization and receipt matching automatically. Real-time spend visibility through Airwallex spend management software can reduce month-end close times by up to 50%, letting finance teams focus on strategic analysis rather than administrative tasks. For more comparison insights, explore our review of best business bank accounts.

Frequently asked questions about switching from Brex

How do you cancel a Brex account and deactivate employee cards?

To cancel, head to the settings menu in your Brex dashboard, select account details, and follow the prompts to begin the closure process. Brex typically requires a 30-day notice period, and your outstanding statement balance has to be paid in full before the closure goes through. If you’re still in a promotional period or under a contract term, check for early termination fees before submitting the request.

What happens to unredeemed reward points when you leave Brex?

Any unredeemed points are forfeited immediately once your Brex account is closed, with no grace period after the cancellation request goes in. Make sure you clear out your balance before submitting. You can apply points as statement credits at 0.6 cents per point, move them to airline or hotel partners, or put them toward software credits through Brex’s vendor marketplace at varying redemption rates.

Can businesses run parallel card accounts during the transition?

Yes, running parallel card accounts for 30 to 60 days is a highly recommended best practice during a card migration. This dual-card period lets you move SaaS subscriptions and digital ad platforms to the new card program incrementally to prevent payment declines.

Who acquired Brex and what does it mean for current customers?

Capital One acquired Brex in a cash and stock transaction valued at $5.15 billion. For existing customers, this means Brex will increasingly operate under Capital One’s compliance and underwriting models. Practically, you may notice changes to how credit limits are calculated, with more weight given to traditional financial metrics rather than cash balances alone. Customer support channels and product roadmaps are also subject to change as the two platforms integrate.

How does switching corporate cards affect business credit history?

Switching corporate cards backed by corporate liability and cash-balance underwriting won’t touch your personal credit score. That said, closing a high-limit business account can shift your corporate credit utilization ratio, and that change could temporarily affect your business credit profile.

How long does a corporate card migration typically take?

A typical corporate card migration takes anywhere from two to four weeks, depending on the number of active cardholders and recurring vendors. While basic account setup on modern fintech platforms can be completed in a few days, identifying all active subscriptions and reissuing virtual cards represents the bulk of the timeline.

What are the hidden costs in free corporate card programs?

The primary hidden costs in free corporate card programs are high foreign exchange markups and international transaction fees. Many platforms offer $0 monthly subscription fees, while pocketing up to a 3% markup on foreign currency card purchases and overseas wires.

Sources

1. https://www.marketreportsworld.com/market-reports/commercial-and-corporate-card-market-14721577

2. https://www.brex.com/journal/capital-one-completes-acquisition-of-brex

3. https://www.airwallex.com/us/blog/capital-one-acquired-brex

4. https://ramp.com/business-credit-cards

5. https://mercury.com/credit