Earn interest on funds you're not using for your business. The Cash Management allows partnerships and incorporated businesses to earn interest on otherwise idle funds. The system uses a combination of two accounts to provide ready access as well as solid earnings potential. For daily check writing, a collected balance of $2,500 is maintained in the Commercial Checking Account. For interest earnings, the balance of the collected funds is held in a Repurchase Agreement.
Funds on deposit in the Repurchase Agreement earn daily compounded interest, based on balance and market conditions.
NSB Cash Management Sweep
Minimum Balance: $2,500 collected balance in checking
(maintained via automatic transfers to or from the Repurchase Agreement)
Minimum Balance to Open: $10.00
Per check Charges: $0.20 per item processed
$0.15 per check deposited
Interest: No interest or earnings credit is paid
$50.00 per month (2 way)
$100.00 per month (3 way)
Interest: Compounded daily and credited monthly
|Repurchase Agreement Disclosure|
|Not FDIC Insured||Not Bank Guaranteed||May Lose Value|
|Not Insured by any Federal Agency||Not a Bank Deposit|
Repurchase Agreement definition: A repurchase agreement is a transaction involving the "sale" of securities by NSB to the customer, subject to an agreement by NSB to repurchase the securities in specified circumstances. The Repurchase Agreement is a nondeposit investment product. It is not insured by the FDIC, it is not a deposit or other obligation of, or guaranteed by, NSB, and it is subject to investment risks, including possible loss of the principal amount invested.