Cash Management

Cash Management Services for Maximum Return. 

If you are looking for ways to maximize your cash flow, increase automation, and manage risk – our knowledgeable team is here to deliver competitive products that grow with you and your business.

 

Overnight Investment Sweep Account

Raise your return on available balances and eliminate manual transfers between accounts. Excess checking balances will be automatically swept into an investment vehicle to maximize your earning potential while being collateralized by government securities.

Interest-Bearing Sweep Account

Raise your return on available balances and eliminate manual transfers between accounts. Excess checking balances will be automatically swept into an investment vehicle to maximize your earning potential.

Line of Credit Sweep Account

It's easy to minimize interest expense and increase operating efficiency. Excess checking balances are automatically applied to a commercial operating line of credit to reduce outstanding debt. Advances against a line are made automatically when a shortfall occurs in the operating account.

Dual Sweep

Link your Operating Account with both your Line of Credit and Investment Sweep accounts. Excess funds are automatically applied to whichever vehicle is of greatest benefit in maximizing return. This service is ideal for clients with seasonal cash flows.

Investment products (1) are not insured by the FDIC or any other agency of the United States, (2) are not deposits or other obligations of, or guaranteed by, Bangor Savings Bank, and (3) are subject to investment risk, including possible loss of principal amount invested.

CDARS and ICS

Bangor Savings Bank is a member of the Promontory Interfinancial Network, which allows us to offer FDIC insurance on deposits up to several million dollars. Promontory Interfinancial Network was founded in 2002 by leading figures in the banking industry to provide financial institutions with profit-enhancing solutions. Today, the Promontory Network includes approximately 3,000 members nationwide and is the leading provider of FDIC-insured deposit placement services.

Insured Cash Sweep (ICS)

ICS is a money market account. Funds in the ICS can be accessed through withdrawals up to six times per month.  Reporting is available daily online and monthly via statements. 
 

Certificate of Deposit Account Registry Services (CDARS)

CDARS are structured very much like certificates of deposits. Your large deposit would be broken into smaller amounts and placed as CDs with other banks in the CDARS network, so that your entire investment is eligible for FDIC insurance. 

Zero Balance Accounts

Link your company's master account to subsidiary accounts that hold zero or threshold balances. Individual deposit and disbursement accounts are maintained to facilitate account reconciliation. Funds from the accounts are consolidated nightly to maximize investment opportunities.