| Business Banking |
| Cash Management Sweep Services |
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This service turns excess balances into interest earning funds, enabling your company's idle cash to work harder for you. Each night, excess collected funds in Commercial Checking will automatically be invested in an Overnight Repurchase Agreement. Securities used are obligations of federal agencies and are collateralized at 100% of market value.*
Cardinal Bank's Sweep Loan service automatically draws against your Cardinal Line of Credit in the event of a deficient balance in your account. You will benefit from reduced interest expense, since loan advances are drawn only when needed and are repaid immediately as funds become available.
This service combines both loan and investment options for maximum cash efficiency. When funds are needed in checking, they are drawn from the line of credit. But on days when there are excess cash balances and no outstanding balance on your line of credit, funds will be automatically invested in an Overnight Repurchase Agreement.
Some companies prefer to maintain multiple disbursement accounts. Cardinal's Zero Balance Account (ZBA) service simplifies this process while eliminating idle balances by providing an efficient, centralized use of available funds. Each day, funds are automatically transferred between subsidiary accounts and the master account, eliminating the need to monitor balances or manually initiate transfers.
*Repurchase agreements are not insured by the FDIC or other government agency.
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