Put your surplus funds in position to earn extra money.
Take your business banking to the next level with our Commercial Interest Sweep. This account offers both earnings credits and interest on excess balances, helping you save and grow your funds efficiently.
Level up your business banking. Visit your local branch to get started.
We can help you arrange excess funds to be automatically transferred from your Commercial Analysis Checking Account to an interest-bearing sweep account.
- Earnings credits1 may offset fees, including the $50 monthly service charge
- You will not be charged the $15 monthly fee for Commercial Analysis checking if you use Commercial Interest Sweep
- Tiered interest2 rate on daily balances, earning interest on funds not needed to cover fees
- When checking deposits exceed that target balance, Shore United will automatically move it into the interest-bearing sweep account
Together, we'll figure out an optimal amount of money - a target balance - to keep in your business's primary checking account.
1The earnings credit will be calculated by applying the periodic earnings credit rate to the average collected investable balance in the account for the statement period. At our discretion, the periodic earnings credit rate may change at any time. The average collected balance is calculated by adding the principal in the account for each day of the calendar month and dividing that figure by the number of days in the calendar month. The investable balance is the average collected balance reduced by 10%. The earnings credit is limited to the fees assessed for the statement period.
2The interest rate and annual percentage yield will depend on the average ledger balance in the account, as shown on the Rate Chart provided at account opening. At our discretion, we may change the interest rate on the account at any time. Interest begins to accrue on the business day you deposit non-cash items (i.e., checks). Interest will be compounded daily and credited to the account monthly. We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
