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Cash Management
Commercial Money Market Deposit Accounts
(Available in Basic, Gold and VIP Relationship Banking Packages)
- Four-tiered premium rate structure
- Annual Percentage Yield compounded daily and paid monthly
- Access to our 24-hour telephone Automated Information Center (call locally (781) 340-3379 or toll free (888) 497-1551) or WeymouthBank Business Online©
- Minimum balance to obtain interest on the account is only $25.00
- Transfers from a Money Market Deposit Account to another account or to third parties by preauthorized, automatic transfer through Telephone Banking or through WeymouthBank Business Online© are limited to six per statement cycle with no more than three by check, draft, or similar order to third parties
- Automatic transfers from another WB account in increments of $100.00
- Minimum withdrawal is $500.00
Commercial Sweep Accounts
(Available in Basic, Gold and VIP Relationship Banking Packages)
The Commercial Sweep Account* at Weymouth Bank permits your business to earn interest on excess funds in your business’ checking account. Under our program, you select a target balance for your checking account. Each day we will sweep any available funds in excess of the target balance amount from your business' checking account (subject to a daily minimum investment amount of $500.00) into an investment account for the business.
*Commercial Sweep Accounts are NOT INSURED by the FDIC or the Share Insurance Fund (SIF) but are secured by a Repurchase Agreement between the Customer and the Bank backed by a US Government or US Government Sponsored Agency obligation.
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