A simple way to save
A Business Daily Repurchase Fund is available to any company with extra money to invest. Excess money is moved on a daily basis to or from this account, which is attached to a business checking account in order to efficiently manage cash flow in an automated process. Interest is calculated daily and credited monthly.
- Minimum to open: $25,500
- Variable interest rate subject to change monthly based on market conditions
- Available to corporations, partnerships and other for-profit organizations
- Different fund rates available; a Treasury Management Officer will review the account history and work with the client to set target balances
- Monthly fee for this account
- Account not FDIC insured; backed by securities pledged at Federal Reserve for repurchase agreements
The transfer cutoff time is 6 p.m. EST. Transfers processed after that will be credited on the next banking day.
Treasury Management Team
Assistant Vice President