Cash.Management.

Cash Management Sweep


PROGRAM BENEFITS
 

  • Automatic sweep of daily excess funds
  • Automatic sweep into your checking account for daily cash needs
  • Earns interest on invested funds
  • Simplifies the daily task of managing your account

CASH MANAGEMENT SWEEP PLANS

BankPlus Repo 100*
Maintain $100,000 in your commercial checking account and sweep excess funds into repurchase agreements for daily earnings on your investment. Transfers will be increments of $25,000 and will earn interest which accrues daily. Should your checking account balance fall below the minimum requirement, funds will automatically transfer from your investment account back into your commercial checking account. There is no monthly fee for this plan.

BankPlus Repo 25* 
Maintain $25,000 in your commercial checking account and sweep excess funds into repurchase agreements for daily earnings on your investment. Transfers will be increments of $25,000 and will earn interest which accrues daily. Should your checking account balance fall below the minimum requirement, funds will automatically transfer from your investment account back into your commercial checking account. There is a $25 monthly fee for this plan.

BankPlus Repo ZBA*
Automatically sweep all your funds from your commercial checking account into repurchase agreements for daily earnings on your funds. Transfers will be increments of $1 and will earn interest daily. Should your checking account balance fall below the minimum $1 balance requirement, funds will automatically transfer from your investment account back into your commercial checking account. There is a $100 monthly fee for this plan.

Contact a BankPlus Cash Management Sales Specialist today to learn more about our Cash Management Sweep at (601) 607-4273 or e-mail CMRS@BankPlus.net.


*Several Important Aspects of Repos:

  • Repos are not FDIC insured.
  • All Repo Agreements are collateralized with securities that are designated and held safely at a third party location and segregated from other BankPlus Assets.
  • BankPlus monitors the Repo account balances daily against the market value of the securities and maintain collateral market values above the funds invested.
  • The securities in the collateral pool may include U.S. Treasury notes or bonds, U.S. Government Agency securities, U.S. Government Agency Mortgage Backed Securities, or state/county/municipal bonds. All securities used are consistent with the securities that BankPlus is eligible to invest and permitted by policy and federal and state regulations.