Business Sweep Accounts
An Allied First Bank Business Sweep Account lets you maximize returns on your funds by transferring idle deposit reserves into interest-bearing investments. You determine the account balance you want maintained, and as additional funds accumulate they are "swept" into an investment (money market) account overnight.
This unique account will allow you to spend more of your time managing your business and less time managing your cash and borrowing needs.
Business Sweep accounts have these great features and benefits:
- Lets your money work for you by maximizing interest earnings
- Uses the Business Money Market as the investment account, linking it to your business checking account
- You determine the target checking account balance, and excess funds above and beyond the target are swept into the investment account
- Automatic investing - funds "swept" without hassle
- Invested balances earn a competitive rate of return
- Earn competitive, tiered interest rates based upon balance
- Interest compounded and credited monthly