Webster helps you make the most of excess cash by investing it automatically.
- Maximizes earning potential
- Helps you invest more often
- Offers varied investment options
Cash that exceeds your account’s target balance can be put to good use by being automatically invested at the end of each business day.
- A consultation with a Treasury Sales Officer to determine a target balance for your account
- An automatic transfer of all cash over your target balance into an investment instrument automatically at the end of each business day
- Your choice of investment, including Repurchase Agreements or Eurodollar Time Deposits
Keep in Mind
Some investment products, including Repurchase Agreements and Eurodollar Time Deposits, aren’t FDIC insured.
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Funds in the Eurodollar account are an unsecured, but unconditional obligation of bank. In the event of the failure of bank, the funds will be treated as unsecured, non-deposit liabilities (unsecured general creditor claims against the receivership) and are not eligible for insurance or depositor preference status.
Funds in the Repurchase account are collateralized with government or agency securities held in bank’s portfolio, priced to market daily to ensure coverage. In the event of the failure of bank, the FDIC will recognize customer’s ownership or security interest in the securities as follows: (a) if another institution acquires bank, the securities and repurchase agreement will be transferred and the funds would be swept back into customer’s deposit account on the business day following failure, giving the customer full access to funds, or (b) in a payoff of insured deposits, customer would receive a check or other payment from the FDIC to reacquire customer’s interest in the securities according to the FDIC normal procedures.