Deposit Services
Your business checking account is the nucleus of your deposit activity, but additional accounts can provide increased earning potential. Middleburg Bank has the right account for you and funds are FDIC-insured up to maximum amout allowed by law. The following products work with our cash management services to maximize cash flow, liquidity and earnings.
Business Checking
Enjoy unlimited access to account funds and maintain a low average monthly balance to avoid an activity service charge. There are no per-item fees or unexpected charges to worry about each month. Statements are issued monthly. Interest checking is also available for sole proprietorships, not-for-profit organizations or governmental units. It pays interest while allowing unlimited access to your funds. Interest accrues daily on the collected balance (after deducting Federal Reserve Bank reserve requirements), and is paid monthly.
Business Matters - Checking and Investment
This investment account "sweeps" excess funds between a business checking account and a high yield money market account. Collected account balances in the non-interest bearing checking account above $50,000 are swept to the money market account each business day. Sweep parameters can be adjusted to meet individual client's working needs. Minimum deposit to open, and daily minimum balance in the checking account is $25,000 to avoid a service fee. If the balance in the checking account drops below the minimum collected balance of $25,000, an automatic sweep is triggered from the money market account to replenish the checking account. Automatic transfers from the money market account to the checking account are limited to six per month as defined by Regulation D. A fee applies for each transaction in excess of the six per month. Checks will be issued with the checking account only; not with the money market account and a combined statement will be issued. Other restrictions apply.
