Holdings vs Brex: Best Nonprofit Banking for Grant Tracking & Spend

Choosing a financial platform isn’t just a practical step for nonprofits—it’s mission-critical. How you manage donations, grants, and team spending can directly impact programs and mission outcomes. If you’re a scrappy grassroots nonprofit juggling grants in one account, a lean team hoping to avoid expense chaos, or a growing org looking for easier compliance and reporting, the banking tools you use matter.

Holdings and Brex are two names that come up when modern nonprofits and charities look for digital financial solutions. But they serve vastly different needs and mindsets. Here’s how these platforms compare from a nonprofit’s perspective—and why Holdings was designed with your mission, team, and funding partners in mind.

Meet the Platforms: Nonprofit-Focused Edition

Both Holdings and Brex are digital-first financial platforms. Both have slick tech, cards, and integrations. But there’s a core difference:

• Holdings is purpose-built to strengthen nonprofits—whether you’re managing multiple grants, segmenting restricted funding, or just trying to keep compliant books with limited time.

• Brex was originally developed for high-growth startups (think venture capital-backed tech companies) and later began supporting select nonprofits, mostly those operating at scale or with complex global financing needs.

Knowing these differences upfront can save hours of research and, more importantly, ensure your nonprofit’s financial operations empower your mission instead of slowing you down.

Why Bank-Account Structure Matters for Nonprofits

Traditional banks force most nonprofits to use a single checking account for everything, layering in manual spreadsheets or tagging transactions after the fact. This isn’t just inefficient—it risks compliance headaches, makes board reports harder, and can even impact grant renewals if you can’t clearly track fund usage.

Virtual accounts change that. Nonprofits using platforms like Holdings get instant segmentation of cash by program, project, grant, or fund—without the need for actual new bank accounts. This unlocks transparency, speed, and audit-readiness, and it’s especially powerful for organizations handling multiple funding streams with different restrictions.

The Quick Nonprofit Comparison Table

How Holdings Solves Real Nonprofit Headaches

Holdings was designed after talking to hundreds of nonprofit leaders and finance teams. The platform’s features didn’t happen by accident—they are all about removing manual work, audit anxiety, and “spreadsheet gymnastics.”

1. Real Segmentation, No Spreadsheets

With Holdings, you can instantly open as many virtual accounts as you need—one for each grant, program, or donor restriction. There’s no extra fee, and each account earns the same strong interest rate. It takes seconds to allocate incoming funds to the right pot, making reporting to boards, auditors, and funders dramatically easier.

2. Zero Hidden Fees (for Real)

Many banks claim to be “low-fee” for nonprofits but quietly charge for excess transactions, wires, ACH, or other day-to-day needs. Holdings wipes all those out.

• No monthly, overdraft, transaction, wire, or ACH fees.

• Every dollar raised stays focused on your mission.

3. Earn More, Even on Restricted Funds

Most nonprofits must keep cash balances on hand for programs, future payroll, or restricted grant funds—which typically earn next to nothing. With Holdings, you earn a competitive 2% APY on every dollar, no matter how many sub-accounts you use or how the funds are tagged.

• No need for money markets, no minimums or tiers.

• Flexible liquidity so you’re never locked out.

4. Segmented Smart Spending Cards

Card programs often exclude volunteers and smaller teams—or require complex admin work. Holdings lets you instantly issue virtual or physical debit cards to staff or volunteers, and you can control exactly which fund each card spends from.

You choose the limits and rules, in plain English. Approve or freeze cards with a click. All card expenditures are tagged to the right program or grant, so expense control is real, not theoretical.

5. Everyone on the Same Page

Grant compliance can be stressful. With Holdings’ built-in expense management, every purchase is automatically tracked by fund, with receipts uploaded on the spot. No more lost receipts, delayed reimbursements, or “mystery charges.”

Need to export clear ledgers for your bookkeeper or board? Holdings offers both seamless third-party integrations and easy exports for QuickBooks, Xero, and more.

When Would a Nonprofit Choose Brex?

For many nonprofits—especially those with a finance team, global operations, and tech-forward processes—Brex offers a comprehensive suite built for startups and large organizations. Here’s where Brex stands out:

• Strong for large organizations handling international payments or those with multi-entity, multi-currency operations.

• Advanced spend controls, including tiered approvals and policy enforcement using AI.

• Integrated travel, rewards, and corporate card programs with high limits.

However, Brex’s value is maximized when your nonprofit operates much like a VC-backed startup: large cash reserves, advanced financial oversight, and global transactions. For the average grassroots nonprofit, these features may be “overkill”—and several leave out crucial basics, like cash deposits or built-in invoicing.

Bookkeeping and Compliance: Nonprofit Simplicity vs. Startup Complexity

Nonprofits face a unique blend of accountability: grant reporting, donor transparency, and sometimes even government compliance. Holdings understands this and has created built-in tools for compliance, approvals, and easy audit preparation.

• Optional full-service bookkeeping ensures your records are clean and audit-ready.

• Automated segmentation means auditors see clear fund boundaries—no manual tagging required.

• “Catch up” services are available if you’ve fallen behind or need to get books ready for a grant renewal.

Brex does not offer in-platform bookkeeping support. If your team is already managing complex ERP software or outsourcing to a financial consultant, this might not be a barrier. But for lean nonprofits needing everything in one place, Holdings eliminates the gap.

Spend Controls Made for Nonprofit Teams (and Volunteers!)

Getting a new debit or expense card to a staff member shouldn’t take days or require faxing forms. Holdings lets you set and manage team cards online. Need to empower a program manager or volunteer for a single event? Issue a card with custom spend limits and program tags.

If you want to update an employee’s budget or deactivate a lost card, you control it from the dashboard—no delays or calls required. That way, teams can respond to changing needs faster and with less administrative back-and-forth.

Instructions: How to Segment Funds by Grant in Holdings

Holdings makes program and grant segmentation intuitive for any nonprofit, regardless of complexity.

1. Log into your nonprofit’s Holdings dashboard.

2. Navigate to “Accounts.” Click “Add Virtual Account.”

3. Name your new segment—example: “2025 United Way Grant” or “Youth Program General Fund.”

4. Assign rules for incoming funds (manual or automatic). You can set up deposits from specific donors or grantors to route automatically to the right virtual account.

5. For outgoing payments, select the relevant virtual account to spend from. Assign team cards to access only permitted funds.

6. When generating financial reports or exports, select “By Account” to break out balances, transactions, and activities by fund, grant, or program.

7. At any time, monitor balances and activity in real-time—all interest automatically accrues per fund.

No need for external spreadsheets or manual journal transfers. This is true “segmentation without spreadsheets.”

Cash Handling—A Nonprofit Essential

Many nonprofits still receive a significant portion of donations in cash—whether from events, community giving, or program revenue. Unlike digital-only banks, Holdings supports cash deposits at tens of thousands of locations nationwide. You can:

• Deposit cash at supported ATMs with no extra fees.

• Instantly allocate cash inflow to the correct fund or program account, ensuring both compliance and donor trust.

If your nonprofit manages events, runs thrift shops, or works in cash-reliant communities, this is crucial—and commonly overlooked by tech-first fintechs like Brex.

Grants, Donations, and Compliance: Integrated Solutions Lead

Holdings optimizes every step: from the initial receipt of a grant or donation to its last cent spent.

• Route grants, fundraising proceeds, or major donor gifts into dedicated virtual accounts instantly.

• Assign team card purchases to the right fund at the time of transaction.

• Automate reports to show use of funds by grant, donor, or fiscal year.

With Holdings, nonprofits can easily answer funder and board questions like “How much of this grant is left?” or “Show us the impact by program.”

Making Expense Control Easy—Not Intimidating

Many nonprofit leaders dread the words “expense management,” picturing endless receipt-chasing or manual Excel work. Holdings flips the script.

• Issue cards with pre-set limits by team, project, or volunteer.

• Require receipts and notes for every purchase—upload directly from a phone, from anywhere in the field.

• Tag every transaction to the appropriate fund or program, reducing manual work and increasing audit confidence.

Brex offers advanced spend management targeted at larger, complex teams, but the tools may feel heavy or overly technical for smaller organizations or those without dedicated finance staff.

Collaborate Across Your Team—Board, Staff, and Volunteers

Nonprofits thrive on collaboration: finance teams, program staff, volunteers, and sometimes board members all contribute to spending and reporting. Holdings is built with flexible roles and permissions:

• Assign approval and review roles to staff, finance committee members, or leadership.

• Customize who can view, approve, or spend from individual virtual accounts.

• Ensure volunteers have access to just what they need—no more, no less.

This flexibility means that even with limited staff, nonprofits stay compliant and in control, without bottlenecking day-to-day work.

Compatible With Your Existing Tools—Not Competitive

Nonprofits should never have to choose between their favorite accounting platform and a better banking experience. Holdings integrates directly with QuickBooks and Xero, and offers simple CSV exports for use with Sage Intacct or bespoke systems.

• Sync transactions, tags, and virtual account mapping for automated reconciliation.

• For organizations without accounting software, Holdings doubles as an entry-level ledger with real-time statements.

Brex offers strong integrations for larger ERPs but may require more configuration—and it does not provide bookkeeping or built-in accounting.

How Holdings Supports Nonprofits at Every Stage

Whether your organization is led by a part-time bookkeeper or a full finance committee, Holdings adapts.

• Startups: Get simple, modern banking, team P-cards, and automatic grant tracking from day one.

• Grassroots orgs: Segment and report on every funding stream, with free cash deposits and straightforward budgeting controls.

• Growing nonprofits: Integrate seamlessly with existing accounting, automate board and foundation reporting, and introduce advanced spend controls without overwhelming your team.

No matter your size, scale, or staff resources, Holdings can be both your all-in-one hub or a favorite add-on. The platform is just as comfortable working with a single program as it is with a multi-million-dollar multi-program budget.

How to Issue Cards and Control Spend by Grant or Program in Holdings

1. Log into your Holdings dashboard.

2. From the “Cards” tab, select “Issue New Card.”

3. Choose physical or virtual card, name it, and assign it to a staff member or volunteer.

4. Specify which virtual account or grant this card can spend from.

5. Set the spending limit and time restrictions—per purchase, day, week, or month.

6. Decide on approval requirements (receipt upload, notes, or manager sign-off).

7. The card is instantly generated and information is sent to the user, ready for activation and immediate use.

At any time, you can pause, adjust, or revoke card access—no calls or paperwork required.

Security, Trust, and FDIC Protection

Protecting donor funds and ensuring compliance is non-negotiable for nonprofits. Holdings delivers modern security, 256-bit encryption, and up to $3M in FDIC insurance coverage through its network of banking partners. This is 12x the typical coverage of most local banks.

Brex supports larger balances (up to $6M) through its Vault product, which may appeal to very large endowments or orgs with global operations. For everyday nonprofits focused on U.S. programs and compliance, Holdings delivers robust protection across all sub-accounts.

Unlimited Free Transfers and Money Movement

Nonprofits frequently need to shift funds between programs, grants, or bank accounts—sometimes at the last minute, often without a finance team on standby. Holdings never charges for internal transfers, wires, or ACH payments, ensuring your funds are always available for immediate mission needs.

Many platforms advertise “no fees” but impose limits, hidden charges, or slow-downs for high transaction volume. In Holdings, you move money when you need it, with every transfer immediately mapped to the right fund or project.

Eliminating Month-End Panic

Month-end for a nonprofit often means scrambling to pull together documentation, match receipts, and prove to the board or grantors that every dollar is where it should be. Holdings automates much of this stress away:

• Pre-segmented transactions are already tagged.

• Receipts are uploaded at purchase, not weeks later.

• Ready-made reports export by grant, program, or fiscal period.

If you ever miss a month, Holdings’ optional full-service bookkeeping team can close gaps, catch you up, and prep your finances for audit—no judgment, just support.

No Minimum Balance, Ever

With Holdings, you’re never penalized for using your cash reserves to fund urgent program work or cover payroll ahead of a slow grant cycle. There are no minimum balance requirements to earn interest, avoid fees, or access features.

Brex requires minimums for credit programs and may reduce access (or benefits) for organizations that drop below specified thresholds.

Support When You Need It—From Nonprofit Experts

Fast, mission-sensitive support is key for nonprofits who can’t wait days to resolve issues with critical banking or spending tools. Holdings provides access to real, nonprofit-savvy human support by chat, phone, or email.

The platform is designed to be friendly—never intimidating or “salesy”—and to help clarify processes for organizations with or without dedicated finance staff.

When to Choose Holdings vs. Brex for Your Nonprofit

Every nonprofit is unique. Here’s a recap of scenarios where each platform shines:

Holdings Is the Better Fit If:

• You want a truly fee-free platform with unlimited virtual accounts and clear fund segmentation.

• Your nonprofit needs to receive and deposit physical cash—events, thrift shops, or community donations.

• You appreciate simplified expense tracking for staff, volunteers, and program leads—without adding another tool.

• Managing grants or restricted funds is keeping you up at night, and you want auto-segmentation.

• Your finance or admin team is lean (or non-existent!).

Brex Might Fit When:

• Your nonprofit operates globally, with multi-currency needs and advanced consolidation requirements.

• You have significant cash reserves that regularly exceed $3M.

• Your operations mirror those of a scaling tech company or enterprise, rather than a local org or U.S.-based nonprofit.

• Your team is comfortable configuring extensive AI controls and doesn’t need built-in bookkeeping or compliance support.

The Bottom Line for Nonprofits

Banks and tech platforms aren’t the hero—your organization’s mission is. But when your financial partner gets it right, everything downstream becomes easier: cleaner audits, happier funders, programs running on time, and less time stuck on accounting.

Holdings was created for nonprofits that want to spend more time on impact and less wrestling with financial infrastructure. Whether you’re a one-person force for good or a mature organization ready to scale, Holdings delivers digital-first banking, accounting, and team-spend control—tailored for the unique demands of mission-driven work.

If you’re ready to see how streamlined money management can free your nonprofit to do more good, consider what matters most: simplicity, control, support, and flexibility. Holdings was built to help you thrive.

Ready to Join the Nonprofit Community at Holdings?

Explore our other nonprofit-first product comparisons, dive deeper into features, or get started today. Every dollar counts—make yours go further.