Is InterPrime a bank account?
InterPrime is not a bank account. InterPrime is a treasury management account where you can park your corporate cash and have it invested in cash & cash equivalent (or low risk) securities per the guidelines set forth in your corporate investment policy.
Where is my money custodied and who has rights to move it?
Your funds are custodied in your company’s name at one of InterPrime’s custodians Interactive Brokers or Charles Schwab. Funds can only be transferred to a pre-authorized bank account in the name of your company by individuals pre-approved by you. Third-party transfers are not permitted.
What asset protection do I have?
Your assets are SIPC insured up to $500,000. You have an additional $29.5 million dollars of insurance through Lloyd's of London at Interactive Brokers. Interactive brokers and Charles Schwab are amongst the largest custodians in the United States and together custody trillions of dollars of assets.
What securities do I hold in my InterPrime Account?
The Securities you hold will be determined based on your company's individual investment policy. However, these will be primarily restricted to U.S. Treasuries and U.S. Bank CD's. If your companies’ investment policy allows for high-end investment-grade corporate bonds, then those will be held in your account as well.
What happens when I need to withdraw funds from my InterPrime Account?
You can withdraw your funds at any time with 24 hours notice, without any fees or penalties. Additionally, you can connect your bank account to InterPrime, and set up the service to “push” money to your operating bank account when the balance drops below a threshold you set.
What is a U.S. Treasury Bill?
U.S Treasury bills are short-term securities backed by the full faith and credit of the United States government. They are considered among the safest securities in the world as the United States government is not considered to have any credit or default risk. You can read more about these securities at the U.S.Treasury's website here.
Do I need to change my bank account to use InterPrime?
You do not need to change your bank account to work with us. We work with all the banks in the United States.
What is an investment policy and why does InterPrime use them?
An investment policy is an internal corporate document that outlines how to handle a company’s corporate cash. It lays out the cash requirements, investment strategy & risk tolerance, and includes a list of the allowed and prohibited securities. InterPrime uses these as they bring discipline and rigour to corporate cash management.
What is a SEC registered RIA & what does that mean?
RIA stands for registered investment advisor. InterPrime is registered with the Securities and Exchange Commission (SEC)* and regulated by them. This requires us to have a fiduciary responsibility to our customers and make sure to put their interests first, even above ours.
Can I get my accountant setup with InterPrime?
Absolutely, you can set your accountant up with a read-only InterPrime account.They will be able to access your monthly statements and the other information they need.
*SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.