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
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.
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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.
*Contact one of our Commercial Lending Officers for associated
fees and requirements.