If your business has high average monthly collected balances or significant fluctuations in excess cash, a sweep account turns your business checking account into a working investment vehicle. Sweep accounts enable funds to be transferred from your existing Hyperion Bank Money Market or Savings account, so that you can earn interest on the excess balance in your business checking account.
Sweep Account advantages
Contact us to learn more about interest rates and the sweep agreement.
Checking account transaction fees still apply.
Transfer funds to and from accounts with ACH or Wire Transfers
ACH and Wire Transfer are fast, accurate, and secure ways to disburse funds, speed payment and collections, and reduce operating costs. Conveniently and securely transfer funds between accounts held by different people and entities via Automated Clearing House (ACH) transactions or Wire Transfers.
To inquire about or initiate electronic funds transfers via ACH or Wire Transfer, please call our customer service team at 215.789.4200 (#2).
A Wire Transfer electronically moves funds between banking institutions or non-bank providers (such as Western Union). Individuals and businesses may use Wire Transfers to send or receive funds in the U.S. or abroad.
Automated Clearing House (ACH)
Businesses often use ACH to save time and money, and improve payment processing efficiency and accuracy on transactions such as payroll and debit/credit batches. ACH can also be used to collect regular monthly payments, such as loan payments, membership dues, and utility payments.
Payroll Direct Deposit
Business owners and their employees all enjoy the benefits of payroll direct deposit:
Positive Pay is a security service that helps you protect against check fraud by matching the check number and dollar amount of each check presented against a list of checks previously authorized and issued by your company. These components must match exactly or the check will not be paid unless you authorize them as exceptions.