PNC Business Banking can provide money market demand accounts, sweep accounts, or certificates of deposit to help ensure your hard-earned money is working for you until it's needed.
Our Premium Business Money Market account offers interest-earning potential in one convenient account, with tiered rates based on account balances, your interest rates can increase as your balance grows.
Put your excess operating cash to work for your business. You’ll continue to have easy access to your funds via your PNC Bank branch, ATM, check or online transfer. Plus, you’ll have the security of knowing that your funds are insured by the FDIC up to the maximum allowed by law.
No monthly account maintenance fee if you maintain a minimum average monthly collected balance of $2,500.
Otherwise, the monthly account maintenance fee is $12.
Minimum amount to open account: $100
A MMDA Sweep account can be a smart business choice if your checking account balance typically significantly exceeds your daily operating expenses. At the close of each business day, excess cash above a specified balance is automatically transferred, into an interest earning account where they stay invested until needed in the checking account. Sweep funds are automatically transferred back into the checking account as needed to maintain the account at the specified balance.
MMDA Sweep automatically links your checking account to an FDIC-insured PNC money market deposit account. PNC Bank's MMDA Sweep is an automated cash management tool that can help you make the most of your idle cash. You can manage daily liquidity and enjoy immediate access to investment balances.
Establish a maximum and minimum target balance in your checking account. On a daily basis, balances above your pre-determined maximum target balance are swept into your money market deposit account. As transactions are posted and your checking account balance falls beneath your specified minimum target balance, funds are swept from the money market deposit account back into your checking account.
MMDA Sweep enhances your earning power on idle cash balances while facilitating instant liquidity. A statement of sweep activity is included with your checking account statement.
For more details, or help deciding if a Sweep service is right for your business, contact a PNC Business Banker near you or call 855-762-2365 (Mon – Fri: 8 a.m. – 6 p.m. ET).
If your business has cash on hand pegged for future business use, and you don't need immediate access to the funds for unexpected expenses, put them to work for you earning interest for your business.
Certificates of Deposit (CDs) are bank issued interest-bearing deposits that are FDIC-insured up to legal limits. With CDs, you generally earn higher rates than with other savings products depending on the length of time your money can remain on deposit. You cannot make early withdrawals without an interest penalty, and you cannot write checks against the balance.
Variety of Terms
PNC offers CDs with a variety of maturity terms, ranging from several days to several years, to match the time your cash is investable. Use CDs as a cash flow management tool to get the most from the funds you have, while you have them.
Businesses come in all sizes. So do Certificates of Deposits. When you're ready to invest $1,000 or more, there's a PNC Bank CD for your business.
When your CD nears maturity, you'll have the opportunity to reassess your cash flow needs and decide the best next course to take. Let the funds automatically reinvest for the same maturity term at the new renewal rate, reinvest for a different term that better fits your current cash flow needs, or have your proceeds deposited into your PNC Bank business checking account or Premium Business Money Market Account for immediate use. It's easy to let us know what works best for you.
For information and current rates on PNC Bank Certificates of Deposit, call us at 855-762-2365 (Mon – Fri: 8 a.m. – 6 p.m. ET).
Insights and ideas to help you get the most out of your day and keep your business moving forward.
Manage Business Finances
Looking ahead to define what the new normal might mean for your business can be tough to navigate, as new priorities and customer needs change how you run your business.
58:47 min video
Manage Business Finances
Virtually all small businesses will experience times when the cash flow slows down. Learn four ways to handle those periodic financial challenges.
1 min read
Manage Business Finances
Even carefully made plans can veer off course, and suddenly your business is in a financial hole. Here are three lessons to help you climb out.
3 min read
See our Business Checking Accounts and Related Charges disclosure for further information.
You may not make more than a total of six (6) transfers each statement cycle from a savings or money market account to other accounts (including transfers to another account for overdraft protection) or to third parties by check, through point-of-sale purchase transactions or similar debit card transactions, by pre-authorized or automatic agreements, telephone, online or similar order payable to a third person. See your account agreement for more information. Other limits may apply to your account. Excessive transactions may result in your Business Money Market account being changed to a Business Checking account, which will be subject to the features and fees as described in the Business Checking Account and Related Charges in effect at that time. We reserve the right to suspend enforcement of these transaction limitations, at our discretion.
Banking products and services and bank deposit products are provided by PNC Bank, National Association, a wholly-owned subsidiary of The PNC Financial Services Group, Inc. and Member FDIC.
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.