"Beep Beep" <redsweater[at]nc.rr.com> wrote in message
news:rIMCc.61363$wH4.3760180[at]twister.southeast.rr.com...
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money. I would like to find something similar to ING Direct?s Orange Savings
Account which some posters in this newsgroup turned me on to a couple of
years ago and with which I have had a pleasant experience with a personal
account. However, it?s too bad that they don?t accept corporate accounts.
I?ve also investigated Everbank?s MMAs but in order to manage them online
you have to also have an Everbank checking account. We already have a local
checking account and I?m not looking to complicate things by getting
something I don?t need in order to get something that I want.
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is - Do any of you know of a product like this that is available to a
corporation?

If you, or your corporation, owns any participating whole life insurance,
depending on your jurisdiction and the company, you may be eligible for a
Premium Deposit Fund. The better ones are liquid, by check on demand, via a
telephone. In my state, you can prepay up to 20 years of future premiums in
advance, and keep on paying each premium as it comes due with OTHER funds,
keeping those 20 years of premiums on deposit, earning current interest.
Interest rates in the 3-4% range are available currently, accruing daily,
crediting monthly.

Its not as easy as the Orange account, and the deposits are only as safe as
the insurance company, but I use this for myself and for my clients when
they need more interest on short term savings without tying the money up.

Brent D. Gardner, ChFC
Chartered Financial Consultant
http://members.cox.net/brentdgardner1378/

"Be ever questioning. Ignorance is not bliss. It is oblivion. You don't go
to heaven if you die dumb. Become better informed. Learn from other's
mistakes. You could not live long enough to make them all yourself." - Hyman
George Rickover (1900-86), Admiral, US Navy, advocated development of
nuclear subs & ships

The Chartered Life Underwriter (CLU) and Chartered Financial Consultant
(ChFC), designations owned and exclusively offered by The American College,
signify the highest standards of academic study and professional excellence
in the financial services industry.

Michael wrote:

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money.

Try G.E. Interest Plus. See www.geinterestplus.com

Mike
CFP in Tennessee


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How long before you can take it as revenue? Why?

Can the client claim it back and expect it returned how fast?

Why can't you use your current accounts and keep a line item, under
liabilites, for this money?

Having been a CFO and Controller, I don't see the need for a special
account. Go to your current bank and open up a money market account and
sweep it in. The ability to use the funds and the ROI should be greater than
2-3% for short term accounts.

We have recently begun amassing revenues which we cannot yet realize as income. I am currently looking for a place to park, or rather float this money. I would like to find something similar to ING Direct?s Orange Savings Account which some posters in this newsgroup turned me on to a couple of years ago and with which I have had a pleasant experience with a personal account. However, it?s too bad that they don?t accept corporate accounts. I?ve also investigated Everbank?s MMAs but in order to manage them online you have to also have an Everbank checking account. We already have a local checking account and I?m not looking to complicate things by getting something I don?t need in order to get something that I want.

So, the features that I'm looking for are these:

- reputable company
- better than average interest rate (but of course!)
- completely liquid (as we realize the revenue as income, we will be moving it into our checking account)
- ease in moving money in and out of product (an easy to manage method; I really like ING Direct's account linking method)
- no fees (I don't want to have to pay to play and I want a bank that agrees with me, as the commercial goes)
- no minimums (one less thing to have to keep in mind)

It may seem like my head is in the clouds here but I enjoy all of these things with my Orange Savings account. So, I guess the Big Money Question is - Do any of you know of a product like this that is available to a corporation?

Thanks,

Michael