We are feeling the pinch of inflation in our pocketbooks. We are also experiencing rapid increases in interest rates. Gerard Buccino is the CEO OF Centrust Bank is here to explain what it all means. Rising interest rates can mean higher returns on savings. That’s the good news: Rising interest rates mean that the money you’ve deposited is now eligible for higher returns. The bad news is, the level to which those rates rise is left somewhat to the discretion of individual financial institutions. So, while you may see a higher return, there’s no guarantee you’ll see the highest possible rate out there.
Deposit management services can provide significant value. As a bank, Centrust can spread your business’s extra cash around to a network of other banks to get the best possible return. It’s a valuable addition to your overall cash management strategy, particularly when rates start to rise.
To learn more about Centrust Bank visit CentrustBank.com. You can also read more in the Small Business publication, Insider 94.