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CASH MANAGEMENT Services
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Our business services are designed to let you spend less time banking—and more time on your business.
Our Business Development Staff will work with you in reviewing all your banking needs. Contact us via e-mail or at (800) 319-2664.
Cash Management Account
  Monroe Bank's Cash Management Account allows customers to put their excess checking account balances to work earning interest. This is a "sweep" account designed to provide access to your funds on a daily basis, but when they're not needed, they're invested automatically.

A target balance is established for your checking account based on account activity. The target balance is set at a level to avoid service charges. On a daily basis we "sweep" excess funds to the cash management account or move funds back to the checking account to pay checks and maintain your target balance.

The funds in the Cash Management Account are collateralized with the purchase of US Government securities pledged to your company. The rate paid is based on the balance in the Cash Management Account and set daily. You will receive a detailed monthly statement for each account to make reconciliation a simple process.

The checking account portion of this account is FDIC insured. Funds swept into the Cash Management Account and invested are not insured by the FDIC, are not guaranteed by the bank and may lose value. By law, the number of pre-authorized and other automated transfers, including sweeps from savings to checking, is limited to six per month.
Automatic Funds Transfer and Zero Balance Account Services
 

We can electronically help you manage the funds in your accounts by moving incremental dollar amounts or all amounts over a set dollar. If you have multiple accounts used for different purposes and want the balance of your funds in one operational account, we can electronically help you maintain the "sub" accounts at a zero balance. When funds are needed they are "pulled" or moved from the concentration account and when the sub accounts have a balance, they are moved to the concentration account. One more way we help you to manage your accounts.

Coin and Currency Services
  Monroe Bank also offers full coin and currency services for businesses.

 

   
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