Update 3/1/21: Expired now
Update 2/25/21: OMaaT is reporting this deal will end soon and suggests applying before end of the month.
Brex Cash is a fintech alternative to a more traditional business checking account. There’s an awesome bonus of up to 110,000 points currently available via OMAAT which we wrote about previously. Having just gone through the process, I thought it was worth sharing how easy I found this bonus to meet.
Important: You need a C-corp, S-corp, LLC, or LLP in order to open a Brex account. Each business entity can open a separate Brex account and get a separate bonus. Sole proprietorships are not eligible.
Signup for Brex via OMAAT here
- You get 80,000 points after spending $1,000 with your Brex debit card. I used the virtual Brex debit card to make $1,000 tax payment and met that easily. I first transferred over $1,250 to my Brex account since you can only spend on the card up to 80% of the account balance, so if you want to spend exactly $1,000, you’ll need $1,250 in the account. (Probably worth transferring a bit more to give room for things like a $1 hold or the like.)
- You get 10,000 points after spending $3,000 with your Brex debit card. I have not yet done this part; basically, if I meet this additional $2,000 in spend, I’ll get the equivalent of 5% back ($100) + 1% ordinary spend return which will give me 6% back total. That’s a pretty good deal, and I’ll probably end up doing it, I just took it slowly and wanted to see the other parts of the bonus work out before doing so. (If you can meet the spend in the Brex bonus categories, such as 4x dining, the deal is even better.)
- You get 20,000 points after linking payroll to Brex. Following Frequentmiler’s tip, I added my Brex Cash account to my business Paypal account using the Brex routing/account numbers, and then withdrew some business earnings from Paypal to Brex. The 20,000 points posted immediately.
All-in-all, just days from opening the account, I had a 101,000 Brex balance (20,000 paypal + 80,000 OMAAT bonus + 1,000 for my 1x earn on spend) which I cashed out for $1,010. (You can alternatively use the points to transfer to travel partners.) I’ll probably do the additional 10,000 bonus with $2,000 more spend as well which will get me another $100 for $1,100 total bonus. I mentally deduct a bit from that value since I put spend on the 1% Brex card in place of a higher earning credit card. But that would just knock off maybe $30-$60 from the value which still gives me well above $1,000 in bonus earn for a quick and easy business account which does not even have so much as a hard pull.
It’s been interesting to try out Brex, though I’m not honestly sure if I’ll use the account long-term. I’ve been pretty happy with the account from the little I’ve used it, but I don’t know if I’ll switch everything over.
Applying now, but these other perks were barely mentioned: Up to $150 in Google Ads credit, Automatic 5% rebate on Microsoft ad purchases, (presumably Cloud/Azure) and $5,000 credits and up to $100,000 in AWS Activate as eligible – Not sure how that works…. But intriguing.
The Google Ads credit only works if you’re a new user of Google Ads, not existing users.
Yeah Google Ads and other ad credits are nothing big because you get those free with hosting plans from nearly everyone.
Anyone Receive a 1099 – I havent…
Anyone know if these points will show up on a 1099-INT?
I notice that I don’t see a box a bout the 80k on my brex dashboard, like I did the 20k and 10k — is that normal., or is it likely something is wrong?
Has anyone received all of the bonus points? I am still waiting on 80,000 (received 10,000 & 20,000). Chat confirmed that I was eligible and satisfied the requirements, but nothing in my account yet.
Anyone know if Turo codes as rideshare?
I met all the requirements and now because I cashed the points, I have several hundred dollars left in the account. Does anyone know how to move the money back out to my actual bank account? Does an ACH pull work?
Just pay yourself through Brex. Basically a DD to yourself.
Sorry to be dense, but could you please describe how to do that?
Under the Cash -> Transactions menu, select Send Payment and then enter the bank account details of where you want the money to be sent.
For anyone who missed out on Brex 80000 points promotional referral from One Mile At a Time, here is a link for 50000 points promotional referral . Here is the link https://www.moneysmylife.com/brex-card-promotions/
this article was posted on April 13, so please confirm it still exists.
I signed up under that link a while ago. Fullfilled 3K spend received the reward for those but no sub. I may try and contact them and see why I haven’t received the SUB. I know it can be delayed slightly and from what I read no more than a week or so. So I may wait. I don’t know
Still nothing may chat tomorrow
AllenW Did you end up getting points?
I hadn’t chatted but when I check 3 hrs ago nope. 🙁
DailyGrindIt i chatted yesterday and they didn’t know why I hadn’t gotten the bonus. Today I got a follow up from a different person and they posted the 50k points manually.
I think in general it takes 10 days from the time of the spend. But afterwards it will likely need a manual review.
Glad it all worked out. 850 bonus not as good as 1100 but sure better than nothing. It’s possible since this is my second Brex maybe that caused the error. Different eins but same name and address. Idk.
So I applied the end of January and my account wasn’t approved until April…I didn’t check that other email the last two weeks and here we are, about 80 days from the original app. Funding won’t hit for another 5 days it says.
Is the 90 days from the application date, or the approval date? I do see the $3k spend tracker at login.
I PM’d and found that I have the offer still attached for the 80k bonus…still within the 90 days today, the funding from Discover bank hit overnight. Was able to make a tax payment and got text message confirmation from Brex immediately. Looking good…
Where we can put the referral?
After the first time that they closed my account by mistake (see my other comment), they told me they would honor the original offer if I submitted another application. So, question: For the linking payroll requirement, is simply sending a deposit from paypal enough?