Money market funds with your Brex business account
Overview
Your Brex business account gives you access to three account types—checking, treasury, and vault. Any funds that you transfer into treasury will be segregated and held by Bank of New York Mellon and invested in the Dreyfus Government Cash Management fund (DGVXX). DGVXX is a money market fund that invests solely in securities that are issued or guaranteed by the US government or its agencies or instrumentalities, repurchase agreements backed by cash, and/or government securities and cash.
DGVXX fund information
You can find in-depth information on the DGVXX, such as past performance data and a prospectus, by reviewing the prospectus or following the steps below. Step 1: Go to the BNY Mellon website. Step 2: Select Cash management professionals. Step 3: Hover over Products and select Overview under the heading Money Market Mutual Funds. Step 4: Select the DGVXX entry, which will be highlighted in teal. You can also search for “DGVXX.”
Investment safety
Your invested funds are held as shares by you, the customer, through our Brex business account and managed by Brex Treasury through the custodial record per your selected allocation. While you should consider the investment objectives, risks, charges, and expenses of the DGVXX fund carefully before investing, note that the securities in which the fund invests include those backed by the full faith and credit of the US government. These include US Treasury securities as well as securities issued by certain agencies of the US government, and 99.5% are invested in instruments fully backed by the US government/are fully collateralized by other assets fully backed by the US government. The main priorities of the fund are to preserve capital and liquidity while earning the highest level of current income possible. As a registered broker-dealer, Brex is required to segregate our money from customer funds. In the event of a failure of BNY, all customer assets will be transferred to another broker-dealer. Should any assets be unaccounted for following this, Securities Investor Protection Corporation (SIPC) covers $500k worth of assets (with up to $250k being cash). Any funds allocated to MMF via Brex business account are considered securities because they are held as shares of the DGVXX fund, instead of as cash.
Impact of changes by the Federal Reserve
The yield of money market funds such as the DGVXX may change in response to fluctuations in interest rates put forth by the Federal Reserve. The yield offered on your DGVXX shares fluctuates daily, and you can find the latest yield rate figure here and in your dashboard of your Brex business account.
Total treasury return
In addition to DGVXX yield, you may earn additional return for funds invested in your treasury account, provided by Brex Treasury LLC. If you are eligible for additional return, then your total treasury return will be based on your overall Brex business account balance, while treasury return is only earned and paid out for funds in your treasury account. It is accrued daily and paid out monthly.
Treasury return consists of yield provided by DGVXX fund and additional return provided by Brex Treasury LLC. Please reference the table below for the balance thresholds for additional return.
You can view the two components of your total treasury return – yield, and additional return – by following the steps below:
Step 1: In your dashboard, go to Accounts, and select your treasury account.
Step 2: At the top of the transaction table, you can view your current combined total return as an annualized percentage, the return accrued so far for the current period (since your last payout), and the total amount paid out in return since your Brex business account was first activated.
Step 3: Under Fund, click Details to view additional information on the fund, including a breakdown of your total return into the net yield rate and additional return.
You can view an overview of the return for funds held in treasury below:
| Total balance | Yield | Additional Return | Total Treasury Return |
|---|---|---|---|
| $20M+ | 3.99% | 0.35% | 4.34%† |
| $5 to < $20M | 3.99% | 0.25% | 4.24% |
| $2 to < $5M | 3.99% | 0.20% | 4.19% |
| $500K to < $2M | 3.99% | 0.10% | 4.09% |
| $0 to < $500K | 3.99% | 0.00% | 3.99% |
Total treasury return includes yield and additional return and is subject to the total balance in checking, treasury, and vault. Yield is the annual percentage rate based on the current 7-day average yield for the Dreyfus Government Cash Management Fund (DGVXX), and is effective as of 06/12/25. Additional return is effective as of 06/12/25, and paid by Brex Treasury LLC.
Yield and additional return are variable and only earned on invested funds in treasury. Yield and additional return are provided monthly and automatically reinvested.
Dividends and additional return are paid on the first business day of the month. If the first day falls on a weekend or banking holiday, your payouts will arrive the first business day to follow.
The new yield structure is now live for new Brex business account customers as of June 4, 2025, and will become available to existing customers starting July 1, 2025.