Money Management

Shifting funds can be a smart move
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Businesses have more money and more bank accounts. We can help manage both.

Maximize your cash flow
Sweep excess balances into interest-bearing accounts
Quickly transfer money between accounts

Business eBanking makes managing finances faster than ever. But there’s only so much your staff can do. Let Atlantic Union Bank’s Treasury Management team help get the best possible returns for your money. We can enhance your cash flow, keep tabs on your line of credit and automatically “sweep” excess balances from checking accounts into interest-bearing investment vehicles.

Business eBanking

Move money, handle payroll and check account balances quickly and efficiently.

  • Simplify your payroll process with direct deposits to employees’ bank accounts
  • Get instant electronic account updates
  • Pay vendors who can accept electronic payments through ACH (Automated Clearing House)
  • Perform domestic and foreign wire transfers
  • Transfer funds between various types of accounts
  • Place stop payments on checks

Maximum Investment Sweep

Our Treasury Management staff sets a target balance in a business operating account. Each day, excess funds are transferred to an interest-bearing deposit account.

  • Eliminates time-consuming responsibilities of managing checking and investment funds
  • Interest is accrued daily and posted to the account monthly
  • FDIC-insured up to $250,000
  • Accounts have a monthly fee with tiered rates
  • Businesses can set target balances that keep service charges to a minimum

Insured Cash Sweep® (ICS®)*

Simplify the management of your organization’s large cash balances with Insured Cash Sweep® (ICS®). We take funds in excess of the standard FDIC maximum, divide them into smaller amounts, and automatically deposit them with participating U.S. financial institutions.

  • The ICS® Sweep service provides convenient access to multi-million dollar FDIC insurance through the program’s network of financial institutions
  • Sweep allows you to maintain each account balance within the FDIC insurance coverage limit
  • Sweep options available for Checking and Saving accounts

Line of Credit Sweep

Atlantic Union Bank's Line of Credit Sweep automatically moves your company's cash to where it benefits your business the most. Pay down your line of credit or replenish your business checking account.

  • If your business checking account balance falls below a target amount, funds are automatically drawn from your line of credit
  • If checking account levels are above the target amount, they are "swept" into your line of credit account to pay down your balance
  • The sweep reduces interest expenses and means your business is spared the hassle of making daily transfers between accounts

Zero Balance Account

Atlantic Union Bank's Zero Balance Account is used by corporations to eliminate excess balances in separate accounts and maintain control over disbursements. It’s especially advantageous for businesses that have multiple locations, each with its own checking account.

  • Alleviates the need to manually transfer funds to multiple accounts
  • Increases efficiency by automating the funds transfer process
  • Maximizes cash flow and reduces idle cash

Disclosures:

*ICS and Insured Cash Sweep are registered service marks of Promontory Interfinancial Network, LLC.

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