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Cash Management (Sweep) Account

Designed for Commercial Checking Account customers with excess cash to invest, the Cash Management Account is a fully automated movement of your funds that offers convenience, liquidity, and enhanced yield.

Minimum Requirements: Commercial Checking Account

Maintenance Fee:

  • $50 monthly fee (included in account analysis).
  • After processing your daily activity, your excess funds (over an established target balance) are then automatically transferred to your Cash Management Account. The target balance is the balance that must be kept to offset monthly activity fees.

Features:

  • All incoming and outgoing sweep activity and balances will appear on your monthly account statement.
  • Convenient, immediate access to your money, and competitive returns so you no longer need to call the bank to direct the movement of funds.
  • Interest is calculated daily and credited monthly based on the balance in your Cash Management Account.

To set up your Cash Management Account, contact a Commercial Deposits Representative at 319-679-5500 for the Iowa City area, 319-654-8100 for the Cedar Rapids area, or toll free at 1-800-445-5725.

Funds in the Commercial Checking Account are FDIC insured, however funds in the Cash Management Account are not a deposit, not FDIC insured, not insured by any federal government agency, carry no bank guarantee, and may lose value.


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