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Earn Interest on Excess Balances

Automatic Investment Sweep is designed for companies that accumulate deposit balances in excess of a designated target balance. This account allows you to earn interest on excess balances that would otherwise sit idle in your company's business checking account. Balances are invested overnight in Repurchase Agreements that are backed by a bank-owned Government-Sponsored Enterprise security.

Each night, after processing any clearings and deposits against your account, your actual balance will be compared with your target balance. If the account balance is greater than the target balance, the excess dollar amount is invested overnight. The funds are automatically swept back into your Middlesex Savings Bank business checking account the next morning for your use.