Brex, a San Francisco-based corporate payment fintech, announced the launch of Brex Cash, which replaces a traditional business bank account with a cash management account that pays 1.6% interest, offers rewards, has no-fee wire fees and provides ACH transactions. 

"Even before customers think about credit cards, they need a place to store their business capital," Henrique Dubugras, co-founder and co-CEO of Brex, said in a press release. "Brex Cash delivers just that — with an unmatched combination of ease of use, superior rewards, no fees and higher returns."

Brex is partnering with Boston-based Radius Bank to provide payment processing services for Brex Cash. 

Brex cash will be offered to existing Brex Card customers on a rolling basis, followed by general availability. 

Cover image courtesy of Brex.