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Earn Interest on Excess Balances
Automatic Invesment Sweep is designed for companies that accumulate deposit balances in excess of a designated target balance. This account allows you to earn interest on excess balances that would otherwise sit idle in your company's business checking account. Balances are invested overnight so you have full use of your funds at all times.
The Automatic Investment Sweep service is convenient and easy to establish. Each night, after processing any clearings and deposits against your account, your actual balance will be compared with your target balance. If the account balance is greater than the target balance, the excess dollar amount is swept into an overnight investment. The funds are automatically swept back into your Middlesex Savings Bank business checking account the next morning for your use.
To learn more about our Cash Management Services, please contact:
Kerry Morgan, Vice President
6 Main Street
Natick, MA 01760
phone: (508) 315-5413
fax: (508) 652-9109
email: kerry.morgan@middlesexbank.com.
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