Business Savings Account
The NexTier Bank Business Savings account is the simplest way to separate operating reserves from daily transaction activity. With a $100 minimum opening deposit and no ongoing minimum balance requirement, it works for businesses of every size — from a sole proprietor in Butler County setting aside quarterly tax payments to a mid-sized manufacturer in Armstrong County building a capital expenditure reserve.
Interest accrues daily and compounds monthly. You can initiate transfers between your linked business checking and savings accounts through online banking or the mobile app at any time. Transfers initiated before 6pm ET settle same day. There are no monthly maintenance fees, no per-transaction charges on standard transfers, and no penalty for maintaining a low balance during slow revenue months.
For businesses that want to automate their savings discipline, NexTier Bank supports scheduled recurring transfers. Set a fixed dollar amount or a percentage of incoming deposits to sweep into savings on a daily, weekly, or monthly cycle. Your relationship manager can help you build a savings cadence that aligns with your cash flow patterns — seasonal businesses, for example, often benefit from aggressive savings during peak months and reduced transfers during the off-season.
Business Money Market
The Business Money Market account delivers higher yields for companies willing to maintain larger balances. A $2,500 minimum opening deposit is required, and the tiered rate structure rewards balances above $10,000, $25,000, $50,000, and $100,000 with progressively higher annual percentage yields. This makes the Money Market ideal for businesses holding significant cash reserves, escrow funds, or working capital buffers.
Unlike traditional savings accounts, the NexTier Bank Business Money Market includes limited check-writing capability — up to six withdrawals or transfers per statement cycle without fee. This hybrid structure means you can write a check or initiate a wire directly from the Money Market account for large vendor payments or capital expenditures without first transferring to checking. It is the flexibility of a checking account with the yield of a savings product.
Automated Sweep Accounts
For businesses that want to maximize every dollar without daily manual intervention, NexTier Bank offers automated sweep accounts. The sweep function monitors your business checking balance throughout the day and automatically transfers excess funds above your designated target balance into an interest-bearing savings or money market account at end of day.
When your checking balance dips below the target the next morning — due to payroll processing, vendor debits, or scheduled ACH payments — the sweep reverses and pulls funds back into checking to cover the activity. This creates a seamless cash management loop where your operating account always has the liquidity it needs while every surplus dollar earns interest overnight.
Sweep accounts are particularly valuable for businesses with variable daily cash flows. A restaurant group in the Pittsburgh metro might see $40,000 in credit card settlements hit on Monday but face $25,000 in vendor payments on Wednesday. The sweep ensures Monday's surplus earns interest for two days before automatically funding Wednesday's obligations. Over the course of a year, those nightly sweeps compound into meaningful interest income that would otherwise be lost in a static checking account.
Extended FDIC Coverage Through IntraFi
Standard FDIC insurance covers $250,000 per depositor, per ownership category. For businesses with cash balances exceeding that threshold, NexTier Bank participates in the IntraFi network — formerly known as ICS and CDARS. Through IntraFi, your deposits are allocated across a network of participating banks in increments below the FDIC limit, extending full insurance coverage to balances of $50 million or more. You maintain a single relationship with NexTier Bank, receive a single consolidated statement, and earn a competitive rate on the entire balance. There is no need to open accounts at multiple institutions to achieve full insurance protection.
This is especially relevant for municipalities, school districts, nonprofits, and businesses that hold fiduciary funds. Pennsylvania law requires certain public entities to collateralize deposits above FDIC limits. IntraFi eliminates that requirement by ensuring every dollar is fully insured — reducing administrative burden and eliminating collateral management costs.
