If you’re in the market for a better return on your corporate deposits, you may have started to consider switching banks. The idea that a more competitive return could be as simple as transferring your money to another institution is a tempting prospect, but as with all things financial, it’s never quite that easy.
That’s why ADM created a corporate cash management solution that allows businesses to keep their corporate deposits protected, liquid and earning a competitive return, all thanks to the power of financial technology (better known as fintech).
Keep your bank and earn a competitive return on idle cash
At ADM, we consistently recommend keeping your bank. You have an existing relationship in place with your bank, and that relationship can be worth protecting. This is most important if you find yourself in need of other bank-specific services, such as lines of credit or loans. There are, of course, exceptions to this rule. But in general, it’s worthwhile to have a financial institution you know you can call on, if the need arises.
It’s also worth noting that switching banks can be an arduous process, and when you embark on it, you run the risk of making mistakes that can cost you money. The bottom line is, you don’t need to switch banks to allow your money to start earning a better return.
Business deposit management that works for you – say hello to smarter cash™
At ADM, we have built relationships with more than 500 financial institutions across the U.S. that are pillars of their communities. The result is a valuable deposit network that gives our clients the best of both worlds: They can keep their bank, while taking advantage of nationally competitive returns on business cash.
Allow us to explain: Our proprietary deposit management technology takes your company deposits and spreads them across our network of banks and credit unions. We do this all with a single deposit and a single statement. That serves two primary functions: First (and most important), it allows you to secure FDIC / NCUA insurance for over $75 million of your corporate cash without the overhead of managing multiple banking relationships. Second, it gives you access to the institutions with competitive returns, without having to shop rates or switch banks.
A national network of hundreds of banks and credit unions sounds complicated. But trust us when we say we keep things simple for you. We like to refer to our deposit management program as “smarter cash” and that’s why our slogan is “earn more, risk less®.”
Your business, your bank, and ADM – stronger together
ADM is not a bank. We are not an investment firm. We are a financial resource, an award-winning treasury management and financial services company designed to help you get the most out of your assets.
That’s why we advise our clients to maintain a strong, healthy relationship with their bank or credit union of choice, while taking advantage of the financial benefits of quality deposit management that we can provide.
Are you interested in exploring what ADM can do for you? Our Solutions Finder can walk you through the process, or you can reach out to one of our friendly associates today. We look forward to helping your organization get the most out of your hard-earned cash.