Business Investment Services
Cash Control Sweep Accounts
Invest Your Excess Cash Balances
Have you ever wished that the excess money in your checking account could be earning more for you? Well, now it can with a cash control sweep account from The First.
Cash control allows businesses and individuals to invest excess checking account funds into selected money market mutual funds to earn competitive money market rates.
Cash control eliminates the costs and headaches often associated with the short-term investment process. With cash control, The First processes all your checking account activity on a daily basis. At the end of the day, if your balance is over the predetermined target, dollars above the target are automatically transferred to one or more non-FDIC insured money market mutual funds* of your choice through SEI Investments. If the balance in your checking account falls below the established target, cash is automatically swept back from the money market mutual funds into your checking account.
Cash control gives you the best of both worlds–the convenience of checking with the daily access to your money when you need it and convenient investment of your excess cash.
It’s efficient. It’s convenient. And it’s completely automated. There’s no need for constant account monitoring or repeated phone calls to transfer funds between accounts. And there’s no time-consuming paperwork. You don’t have to open a new checking account. Simply link your existing non-interest bearing account to cash control and you are good to go!
Dividends are calculated daily and paid monthly based on the balances in the investment portion of your cash control account. Interest will be credited to your checking account on the first business day of the month. And while other banks charge a high monthly fee and transaction fees for their sweep account service, there are no transaction fees or monthly transaction restrictions at The First.
The professional managers of the money market funds strive to meet diversification, liquidity and competitive yield objectives coupled with stability of principal. Money market mutual funds may offer many advantages including stability of principal, time and cost savings and investment flexibility. This special type of mutual fund invests in short-term fixed income securities and seeks to maintain a constant dollar value for its shares. By maintaining a stable net asset value (NAV) of $1 per share, the market risk associated with direct investments may be reduced.
Learn More Today
If you’d like to learn more about cash control, contact The First and we’ll provide you with an application package including a prospectus for the money market mutual funds. Please read the prospectus carefully before investing.
*An investment in money market mutual funds is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although the funds seek to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the funds. Money market mutual funds are distributed by SEI Investments Distribution, Co.
For more information, call 1(800) DIAL-SEI (342-5734).
Personalized Investment Services
The Personalized Investment unit provides individuals with customized investment portfolios to meet their financial goals. We can design an investment portfolio to meet future needs or one that provides a monthly income to meet current needs.
We select our investments from a broad range of securities, including stocks, bonds and mutual funds in both domestic and international markets. Our customers rely on us for comprehensive investment solutions to meet their short-term and long-term financial needs.
We welcome the opportunity to discuss these services with you. Please call us at 215-968-4872 or e-mail us at firstname.lastname@example.org to schedule an appointment.
This product is not FDIC insured.
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