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Cash Management account also known as a Sweep Account, is a demand investment account that offers a better yield than other accounts.
This account is only available for corporations. A minimum daily balance of $50,000 is required and any funds in excess of the minimum required are invested overnight in negotiable securities of the Federal Government of the United States and its agencies.. Interest is adjusted weekly,, based on the average rate of the Federal Reserve Bank, and is credited monthly to the account. This type of account offers a separate statement.
Benefits
- Support of a solid corporation
- Highly competitive rates
- Guaranteed liquidity
- Confidential transactions
- Issuance of unlimited checks
For more information
BICSA Miami Agency - Business Department
Tel. 305.455.3100
E-Mail: Contact here
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