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Money in motion.

The Butte Community Bank Cash Sweep Account is designed for commercial accounts, including corporations, small businesses and nonprofit organizations. The account offers competitive money market rates and an added measure of security with FDIC insurance of up to $100,000 for each depositor.

The cash sweep account uniquely combines a business checking account with the ease of automatically investing excess cash in an interest-bearing account. You can maximize your revenue and enjoy check writing without having to juggle balances between accounts.

Butte Community Bank Cash Sweep Account

01. How the Cash Sweep Account Works

  • Cash in excess of your target balance is automatically invested in an FDIC-insured money market deposit account, ensuring competitive rates on all of your excess cash balances.
  • If your end-of-day checking account balance falls below your target balance, funds will be automatically swept back to your checking account.
  • Because the sweeps to and from your checking account are automatic, there is no need for you to worry about managing your daily balances. There are no last-minute phone calls, no wire transfers and no penalty fees.

02. Reserve Management Corporation

  • Reserve Management Corporation acts as your agent in providing offerings for the Butte Community Bank Cash Sweep Account.
  • Reserve is part of a $40 billion organization that created the world’s first money market fund, establishing the $2 trillion money fund industry.

Benefits of a Sweep Account

You can manage your cash balances more easily with a Butte Community Bank Cash Sweep Account and benefit from:

  • FDIC insurance of up to $100,000 for each depositor.
  • Earn more interest on your cash.
  • Easy to set up and maintain.
  • Sweeps to and from your checking account are automatic.
  • No wire transfers and no penalty fees.

FDIC Insured up to $100,000

FDIC insurance on each Butte Community Bank Cash Sweep Account will be limited to a combined total of $100,000 for all deposits held in the same legal ownership category for each depositor per bank, which includes the Butte Community Bank Cash Sweep Account and any other balances held directly or through other intermediaries.

How to Get Started

  1. Contact your banker to set up a Butte Community Bank Cash Sweep Account or to convert an existing conventional checking account.
  2. Plan to meet your objectives. Your banker will work with you to confirm the ideal target balance that you need to manage your daily business, and any excess cash will be automatically swept daily into the insured sweep account.
  3. Deposit cash and start earning interest on your excess balances automatically!
  4. Enjoy the convenience of earning more interest on your cash. In most cases, the automatic sweep begins the same day you make your initial deposit.