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Money in motion.

You now have the ability to manage your working capital more efficiently with a Butte Community Bank Cash Sweep Account.

A Complete Cash Management Solution for Business Accounts

This seamless cash management solution provides a way for you to earn interest on the idle balances in your business checking account, provides competitive yields, and is convenient to use. And your deposits are always kept at the bank—they are not swept to an account outside the U.S. or to an uninsured money fund.

Benefits of a Cash Sweep Account:

  • Earn interest on the idle balances in your business checking accounts.
  • Easy to set-up and manage—it’s easy to set up and the automatic transferring of balances between your accounts means minimal ongoing maintenance.
  • Unlimited number of transactions to support your cash flow needs.
  • Seamless integration into existing business checking accounts.
  • Support your local economy as deposits are kept within your community.
  • Choice of using a solution where funds are not swept to an account outside of the U.S. or to an uninsured money fund account.

How it Works

After opening a Butte Community Bank Cash Sweep Account, or updating your existing business checking account, cash in excess of a target balance is automatically invested in a money market account nightly at Butte Community Bank. This cash earns interest—ensuring that your working capital is working as hard as you do.

If your end-of-day balance falls below your target, funds are automatically swept back into your checking account to meet your liquidity needs. Best of all, these sweeps are automatic. There is no need for you to worry about managing your daily balances or rush to transfer money at the end of the day. In addition, there are no transaction fees and no penalty fees. A monthly sweep fee may apply.

Get Started Now

  1. Speak with a representative at the bank today, or call us at 1-888-842-8883. It takes just a few minutes to open a Butte Community Bank Cash Sweep Account.
  2. We will work with you to determine the ideal target balance for your checking account, ensuring your excess working capital is earning interest.
  3. As soon as your account is activated, you’ll start earning interest on your excess balances.
  4. Enjoy the convenience of not having to scramble at the end of the day to calculate balances and transfer funds. Focus on your business—we focus on managing your cash. That’s work we can do for you.

FDIC Insured up to $250,000

FDIC insurance on each Butte Community Bank Cash Sweep Account will be limited to a combined total of $250,000 for all deposits held in the same legal ownership category for each depositor per bank, which includes the Butte Community Bank Cash Sweep Account and any other balances held directly or through other intermediaries. Learn more >

IMPORTANT
Butte Community Bank participates in the FDIC’s Transaction Account Guarantee Program (TAGP). Under the TAGP, through December 31, 2010, all non-interest bearing transaction accounts are guaranteed by the FDIC for the entire amount in the account. Coverage under the TAGP is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules. When funds are transferred from a non-interest bearing transaction account (e.g., a non-interest bearing checking account) to an interest bearing money market deposit account, such as the Butte Community Bank Cash Sweep Account, the transfer will void the FDIC’s TAGP guarantee and the transferred funds will be insured up to the FDIC’s standard maximum deposit insurance amount, currently $250,000, when aggregated with all other deposits held by you directly, or through others, in the same recognized legal capacity (e.g., single accounts, joint accounts, IRAs, trust accounts) at Butte Community Bank. Funds in excess of this amount in any one legal capacity may not be covered by FDIC insurance, or the TAGP. If you have any questions about your specific FDIC coverage limits, please visit www.myfdicinsurance.gov or call 1-877-ASK-FDIC. Learn more >

Revised: 2010-07-22