Government Savings

Government Money Market Account

NBT Bank offers money market deposit accounts* to local governments for excess funds, as well as short and medium-term liquid investments. These accounts pay interest monthly and have tiered rates based on the balances maintained. Interest rates are variable rates and subject to change with market conditions.

*Transfers from a Savings or Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check, draft, debit card, or similar order to third parties are limited to six per monthly statement cycle. Depositors who continue to exceed these limits may lose the transfer and check writing features of their account.

Government Savings Account

NBT Bank offers government savings accounts* to local governments for excess funds and short and medium-term liquid investments. Interest is paid to the accounts quarterly, and the rate is a variable rate and subject to change with market conditions (a minimum balance of $1,000 is required to earn interest).

*Transfers from a Savings or Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check, draft, debit card, or similar order to third parties are limited to six per monthly statement cycle. Depositors who continue to exceed these limits may lose the transfer and check writing features of their account.

Insured Cash Sweep Service

Our Insured Cash Sweep (ICS) service is a smart, secure and convenient way to safeguard your large deposits and reduce ongoing collateral-tracking requirements. By working directly with a bank you already know and trust you can receive coverage through many banks. Once you have set up a transaction account with us, your deposits are sent to money market accounts at other member institutions in amounts under the FDIC insurance maximum of $250,000.

Earn interest
Put funds to work in money market deposit accounts.

Enjoy peace of mind
Your ICS funds are eligible for multi-million dollar protection that's backed by the full faith and credit of the United States Government.

Maintain access to funds
Withdraw ICS funds up to six times per month.

Save time
By providing access to FDIC Insurance through a single bank relationship, ICS can help your public unit comply with investment policy mandates. And with access to FDIC insurance, you can reduce your ongoing collateral-tracking requirements. This means you have the freedom to spend more time accomplishing your public unit's goals.