Automate your daily cash management decisions by sweeping or concentrating your operating funds.
Overnight Sweep (Investment1 or Loan Sweep)
- Link your business checking account with an Investment Sweep1, overnight investment option, that will sweep idle balances offering you greater return potential.
- Link your line of credit to your business checking account and excess checking balances will be applied to the credit account. Can reduce interest expense by automatically applying excess cash towards your line.
Zero Balance Accounts
- Add zero balance accounts to automate and separate disbursements and deposit accounts while retaining the combined cash in a master checking account.
CDARS and ICS Programs
Certificate of Deposit Account Registry Service®, or CDARS®2 Insured Cash Sweep® Service, or ICS®2
- Access to multi-million dollar FDIC insurance coverage
- Ability to forego ongoing collateral tracking
For more information on investment and concentration services please contact the First Oklahoma Bank Treasury Team at 918-392-7449 or contact us online.
1 Investment accounts are not insured by the FDIC, are not deposits or obligations of the Bank, and are not guaranteed by the Bank. The investment is subject to investment risk, including possible loss of the principal amount invested. All funds in cash management investment accounts are invested in Repurchase Agreements and are collateralized by United States Government or Agency Securities.
2 Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, Certificate of Deposit Account Registry Service and CDARS are registered service marks of Promontory Interfinancial Network, LLC.