Howard Bank's funds management services are designed for companies that keep one main bank account for operating services and use subaccounts for easier bookkeeping. For example, you may have a main account, then separate linked accounts for payroll, client funds and so on.

Our funds management services include:

  • Sweep services: You choose a target minimum balance you need in your main business account. At the end of each day, we’ll automatically sweep any extra funds into a high-interest savings or investment account of your choice. Ask us about our multi-bank FDIC insured coverage.
  • Zero balance accounts (ZBAs): This type of account often is used for issuing payroll checks, holding petty cash, and other special business needs. We automatically sweep money out of your ZBA subaccounts and into your main operating account at the end of the day. The movement of funds centralizes balances for easy management of available cash.
  • Insured Cash Sweep® (ICS) service: It's a smart, convenient way to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.  You'll work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis. 


Want to learn more about your business can benefit from funds management? We’re here to help. Call or email us: [email protected].