Bank of North Georgia offers a power-packed Commercial Money Market Account (CMMA) Sweep* to our commercial customers. The Money Market Sweep Account service enables business customers to automatically sweep funds in excess of a predetermined target balance from a commercial checking account into a Commercial Money Market Sweep Account. When deposits are made into the commercial checking account, any excess collected funds above the target balance are swept into the Commercial Money Market Sweep Account. When checks or debits are presented for payment and funds are needed in the commercial checking account, the Money Market Sweep Account automatically sweeps money back to the checking account.
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* Account Transaction Limitations for Savings and Money Market Accounts - Savings and Money Market Accounts may have no more than six (6) debit transactions per month or monthly statement cycle. A debit transaction is a check, debit/check card transaction, transfer, or pre-authorized transfer, including those made by phone or modem. Unlimited transactions are permitted if made by the customer in person, by mail, through an ATM or by phone if the check is mailed to the customer. If an account continually exceeds the allowed debit transactions, we may convert it to a checking account.