Business Money Market Sweep

Designed for small businesses that have excess cash, and have limited sweep transactions from money market to checking.

Considerations Details

Opening Balance

$250,000

Monthly Transactions Volume

  • Conduct up to six transfers (sweeps) out of the account per month at no charge1

Can the Monthly Service Fee Be Waived?

There is no monthly fee waiver available with this account. The monthly service fee is $25.

Monthly Paper Statement Fee

No charge, if you opt out of paper statements in favor of eStatements2

Features and Benefits

  • A primary business checking account (any type) is required to open a Business Money Market Sweep account3
  • Variable rate, compounded daily,4

Apply

Apply in person at one of our locations.

Please refer to the Deposit Account Agreement, Account Disclosure, Deposit Rate Sheet and Business Account Schedule of Fees, or speak with a banker for more details.

1. Excessive Savings or Money Market Transactions –Withdrawals: Federal banking regulations allow up to six (6) withdrawals by check, debit card, or pre-authorized, telephone, or computer transfer to another account or third party during a monthly statement cycle of at least four weeks. However, you may make an unlimited number of withdrawals from your account in person, by ATM, or by mail. A excessive withdrawal fee of up to $15 is assessed if you exceed your withdrawal limits during a monthly statement cycle.

2. eDocuments – To avoid the Paper Statement Fee of $3, you must enroll in Online Banking, and opt your account out of receiving paper statements. You may opt to receive either electronic or paper account notices and tax documents at no additional cost. If multiple accounts are linked in a combined statement, you must have opted your primary account out of receiving paper statements.

3. Sweep Accounts – Please see your California Bank & Trust professional banker for details.

4. Savings and Money Market Interest – Interest is calculated using the daily balance method. This method applies a daily periodic rate to the collected balance in the account each day. Annual Percentage Yield (APY) is variable and may change after the account is opened. Other fees may apply and may reduce earnings. Contact a branch for details.

This information is not intended to be the entire disclosure associated with these accounts. Complete disclosure of terms and service charges are available at any CB&T branch office and will be provided at account opening. For current rates or more account information, please ask a Financial Services Representative at any branch office.