Our Sweep Services can help you more efficiently manage your finances.
Zero Balance Account
To learn more, please email us, call Treasury Management at 866-372-1275 or stop in at any branch.
Concentrate deposits and facilitate fund disbursements with a First State Bank Zero Balance Account (ZBA). This account allows you to operate "sub" accounts and maintain its centralized control of cash in a "master" account.
At the end of each business day, funds are automatically transferred out of ZBAs to your master concentration account, bringing your balances to zero.
FEATURES AND BENEFITS:
- Centralized disbursements
- Reduced staff and operating expenses
- Improved accountability, outlining activity and deposits of different business divisions via "sub" accounts
- Concentrate funds using ZBAs to create a larger cash pool for debt reduction, investment opportunities and working capital
A credit Sweep provides an automated method of managing excess funds with a Line of Credit.
Excess funds over a specified target balance are swept from your checking account to pay down your loan. A loan advance will automatically occur if your checking account balance falls below the established target balance.
FEATURES AND BENEFITS
- Achieves maximum use of funds
- Eliminates the need for day-to-day account management
- Reduces interest owing on the line of credit
- Minimizes unnecessary borrowing and overdraft fees and covers uncollected funds
Credit approval is required for Credit Sweep customers.
Rates and Fees:
Zero Balance Account Service
Master account monthly maintenance fee: $15
Sub account monthly maintenance fee: $15
Monthly maintenance fee: $100
Monthly maintenance fee: $125
The earnings credit allowance for the Business Checking Account may be used to offset these service charges.