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| BB&T's Sweep Advantage automatically invests idle funds in higher yielding deposits. Your BB&T business checking account is linked to a Money Rate Savings Account. Each night, any funds over your chosen balance are automatically swept into your choice of investments. |
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| How it Works |
| The Sweep Process |
- Your business checking account is linked to a Money Rate Savings account
- Choose an investment option and set target balance for the checking account established
- Funds in excess of that target amount are automatically transferred to the Money Rate Savings Account and into your chosen investment option
- If the checking account balance falls below the target, funds from the Money Rate Savings Account are automatically transferred over to reestablish the balance
- On the first business day of the month, any funds in an investment will move back to the operating account and then be moved to the Money Rate Savings Account
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| Restrictions |
- Funds invested in one of the business Money Rate Savings options are FDIC insured for up to six transfers
- Checks may not be written on the Money Rate Savings account
- The Money Rate Savings Account cannot accept deposits other than through Sweep Advantage
- Transfers from the Money Rate Savings account are limited to six within a monthly service charge cycle to comply with the Federal Reserve Board's Regulation D transfer limits
- At the sixth transfer in the cycle, all available funds in the Money Rate Savings account are transferred to the actual, stand-alone investment choice you originally defined
- From that point forward, unlimited transfer activity is permitted between the four investment vehicles, but the funds are not FDIC insured. However, the full faith and credit of BB&T Corporation back them
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We will work with you to establish target balances in your business checking account that maintain sufficient balance levels to cover normal transaction volume and any service fees.
| Investment Options |
| Master Note Basic |
- A Master Note is a short-term, unsecured obligation of BB&T Corporation
- This investment is particularly good for small businesses
- Rates vary according to money market conditions and are subject to change daily. The minimum investment amount is $25,000
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| Master Note Standard |
- A Master Note is a short term, unsecured obligation of BB&T Corporation, BB&T's holding company
- Rates vary according to money market conditions and are subject to change daily
- Minimum investment amount of $25,000
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| Repurchase Agreement (Repo) |
- This investment involves the purchase of a government security from BB&T with a contractual agreement to sell back the security the next day
- Repo rates are quoted daily, based on prevailing money market rates
- Minimum investment amount of $25,000
- Funds in the stand-alone Repurchase Agreement are fully collateralized with securities placed with the Federal Reserve, but are not FDIC insured
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| Apply in Person |
| Apply in person when you visit your local branch |
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| Contact us by Person |
| Call BB&T Treasury Management at 1-800-810-5625 |
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| Send us an Email |
| Feel free to contact us by email |
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Copyright © 2009, Branch Banking and Trust Company. All Rights Reserved.
BB&T Complete Client Protection
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Branch Banking and Trust Company is a Member FDIC.
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Only Deposit Products are FDIC Insured.
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