Our Business Investment Account, or "sweep" account keeps your idle funds working for you. It's the perfect account for your business if you want to earn interest on excess balances and automate your investment of funds.
- Account automatically "sweeps" excess funds held in your commercial checking account each evening into a repurchase agreement investment account to provide you with an investment return.
- This investment is not a deposit and is not insured or guaranteed by the FDIC or any other government agency.
- The Bank takes the necessary steps to assure that the investment meets the requirements of a "qualified financial contract" under the Federal Deposit Insurance Act.
- Confirmation notices are sent to you daily which identify the collateral supporting your overnight investment.
- Funds are "swept" back into your checking account, effectively allowing you to earn interest on your balances while still having availability to use those funds the next day for transactions.
- Increased efficiency – The automatic investment of funds eliminates the time required to estimate the amount of good funds available for investment.
- Lowered costs – Funds invested are 100% liquid and are fully collateralized.
- Added value – Payments can be processed through Information Reporting
- Enhanced features – The Business Investment Account will allow you to have multiple depository accounts linked for enhanced investments
- Not a Deposit
- Not Guaranteed by the Bank or its Affiliates
- Not FDIC Insured
- Not Insured by Any Federal Government Agency
- May Go Down in Value
FTB Advisors is the trade name for wealth management products and services provided by First Tennessee National Corporation ("FTB") and its affiliates. Investment management services and investments available through FTB Advisors, Inc., member FINRA, SIPC, and a subsidiary of FTB. FTB Advisors does not offer tax or legal advice. You should consult your personal tax and/or legal advisor concerning your individual situation.