Brex offers corporate cards with spend management features and other financial services. While many companies in Australia would benefit from the features of Brex cards, they are only available to US-based companies. 

Fortunately, there are home-grown alternatives – such as Archa credit cards –  that offer powerful features comparable to Brex corporate cards.  

Here we offer a brief overview of Brex and how Archa empowers businesses with a range of features, including spend management. 

What is Brex?

Brex is not a traditional financial institution like a bank with physical branches. It can be classified as a neobank that offers fintech services, including business accounts, bill pay, business credit cards, expense tracking, and spend management. The flexibility and scalability of the services it provides has made Brex popular with start-ups in the United States. Unlike other finance providers, Brex only is available to corporations and non-individual liability companies organised and registered in the USA, so many small business owners (such as sole traders) and consumers are not qualified. 

Brex credit cards

These cards come with features that stand out and provide benefits to growing businesses. These include: 

• Fast and easy application – companies can get cards quickly by applying online.

• Daily or monthly payments – for small and new businesses, daily payments are made from a Brex cash account. Businesses meeting size and revenue criteria and successfully applying can pay from their chosen account monthly. With cards under the daily payment plan, the spending limit is the total amount in the cash account. With a monthly card, businesses can qualify for 10 to 20 times the limits of traditional corporate cards. 

• Rewards points – with Brex points, users can 2x - 7x the value of points depending on the type of product or service purchased. Points are uncapped and do not expire. 

• Unlimited cards – tailored solutions to set individual credit limits and track all team members' expenses. 

• No personal guarantee required – since these are corporate cards and some options deduct funds daily from a business account, no personal guarantee is required. 

• No fees or interest – there are no monthly or annual fees for using these credit cards. Brex receives a small fee from merchants when credit card purchases are made. 

• Accounting integration – Brex cards can be integrated with major accounting programs such as QuickBooks and Xero.

• Expense tracking – with built-in expense tracking, you email or text receipts to Brex to be matched with the right expenses. 

Archa as an alternative to Brex

While there is no official Brex Australia, US-based companies can provide Brex cards to their international employees in Australia. But this can get complicated from an accounting standpoint for subsidiaries registered overseas. International divisions often have their own accounting systems to meet local requirements, such as GST.  

Archa was created in Australia for Australian companies. It’s similar to Brex in several ways:

• Quick and easy application – apply online in around 5 minutes and get an answer within 48 hours. 

• Unlimited cards – add employee cards as your business grows and set individual spending limits.

• Rewards program – Archa’s business rewards credit card provides discounts on business products and services to help your business grow. 

• Accounting integration – Archa easily integrates with Xero, so you can avoid manual data entry and errors associated with it. Data can also be exported in CSV format for use with other accounting programs.

• No personal guarantee required – as a business credit card, it doesn’t require a personal guarantee. 

• Receipt capture and expense management – with the Archa app, you simply take a snap of the receipt of the product or service purchased with the card, add important details, and you’re done!

Both cards can be added to Apple Pay and Google Wallet, creating a virtual card with a simple tap and pay option.

Archa cards differ from Brex corporate cards in several ways:

• Archa doesn’t have cash accounts for customers – these are required for the Brex daily payment credit cards.

• With all Archa plans, expenses are consolidated into one monthly repayment, which can help to free up cash flow. 

• Archa offers cards at a small monthly fee of $19 per user per month.

What’s required to get an Archa plan? 

Getting an Archa plan has minimal requirements that most businesses can meet. These include:

• Having a registered business with an ABN or ACN

• Have been operating your business for at least 6 months.

• Have an annual revenue over $200,000. 

The documentation required includes: 

• Business bank details: 6 to 12 months of business bank statements.

• Business background information: business website and summary of what your business does.

• Phone number: this is required to complete your application and set up Archa on your phone.

• Personal ID: driver’s license or passport details to verify your identification and any other staff that will be responsible for managing your account. 

Once approved, we can start instantly issuing cards to team members, so you can easily manage and track spending.

Find out more about Archa business credit cards as an alternative to Brex.