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The FDIC's basic insurance limit has been temporarily raised from $100,000 to $250,000 per depositor. This enhancement will be in effect through December 31, 2013.
ABC Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010, all non interest-bearing transaction (checking) accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.
To view ABC Bank's Regulation E Disclosure click here.
ABC Bank offers several cash management and investment choices for businesses and organizations. For more information about these services, speak with a Branch Manager at any of our locations.
Corporate Repurchase Sweep Account
Term Repurchase Agreement
Lock Box Services
CD's and Savings Accounts
For short-term investments, we offer a Corporate Repurchase Sweep Account. This arrangement links a business checking (Operating) account with a repurchase agreement sweep (Investment) account. Excess balances in the Operating account are "swept" into the Investment account daily. This enables you to earn a competitive interest rate on idle balances that otherwise would be kept in the Operating account. These investments are not FDIC insured but risk is limited as balances are collateralized by U.S. Government Agency securities.
We also offer Term Repurchase Agreements at competitive interest rates. These investments are not FDIC insured but risk is limited as balances are collateralized by U.S. Government Agency securities. Terms can be customized from 7 to 365 days.
We provide Lock Box Services to our commercial customers to facilitate the processing of account receivables in a timely, secure and accurate manner. Converting receivables into cash quickly is vital to every cash manager. Our solution is easy to manage and cost effective.
Earn a competitive fixed rate of interest for terms ranging from 3 to 60 months. For CD's greater than $100,000, earn competitive rates of interest with maturities ranging from 14 days to two years. Our traditional Business Savings offers a competitive rate of interest and requires a small minimum daily balance to avoid maintenance fees. For current interest rates offered for these accounts, click here.