The North Side Bank and Trust will process your receivables according to your specifications. Your creditors mail their payments directly to a PO Box in your name operated by North Side Bank. This allows for more immediate availability of receivables.

Sweep Accounts

The sweep account is linked to your commercial checking account. Nightly transfers of excess funds from your checking into a sweep investment account allow otherwise idle cash to earn interest. If the commercial checking were to go below minimum balance requirements, the funds would transfer from the sweep investment to meet the requirement.

Your commercial checking account can be linked to your North Side Bank Line of Credit. Nightly transfer of excess funds can be swept to pay any balance owed on your Line of Credit first. If there is no outstanding balance on the Line of Credit, the excess funds will be deposited into a sweep investment account where it can gain interest until it is needed. If your commercial checking were to go below minimum balance requirements, the funds would come from our investment account first. If all investment funds are depleted, the funds will transfer from the Line of Credit.

| back to top

Merchant Processing

As an added feature, North Side Bank will assist you in setting up a merchant processing account for your business. This allows you to make millions of bankcard customers your personal customers.