Sweep & Zero Balance Accounts

Sweep Account

  • Maximize your income by automatically investing excess funds in interest-bearing overnight Repurchase Agreements
  • Investment account linked to checking account earns high interest while preserving liquidity
  • A combined monthly statement specifies daily investments, interest earnings, and checking account details
  • Investment account is not FDIC-insured and not guaranteed by the bank. Like all investments, it is subject to risks, including loss of principal

Not yet a Salem Five business banking client? Click here to get started today.

 

Zero Balance Account

  • Automatically pool funds from subsidiary accounts every day for investment or other productive uses
  • Reduce costs by eliminating overdrafts and wire transfer expenses to move funds between subsidiary accounts
  • Reduce idle balances without the headache of transferring funds among multiple accounts
  • Divisions retain autonomy over operating accounts

Not yet a Salem Five business banking client? Click here to get started today.

 

 

Are you a Salem Five client but haven't activated your Web Cash Manager? Enroll today.