Why Businesses Shouldn't Miss out on the Mayfair Cash Account's 4.02% Return

Mayfair

New fintech company Mayfair is offering business owners an opportunity to generate returns on their idle cash. Its cash account currently provides a 4.02% annual percentage yield (APY), far exceeding traditional banks' regular interest rates available for the roughly $4 trillion being held by non-financial corporations in the US.

Enterprises using Mayfair's cash account enjoy several unique strengths on one platform:

1. Effort-free cash flow

A business cash account with a 4.02% rate of return can increase a business's cash flow, providing access to additional capital for investments, expansion, protection against financial difficulties, or other strategic initiatives. For startups, this can translate to valuable months of extra runways; for more established firms, it could mean additional hires that are effectively free.

2. No reduction in liquidity

Mayfair's cash account also offers uniquely high degrees of liquidity unheard of with other financial instruments available to businesses. With 1-day ACH transfers on qualifying amounts, clients can optimize for yield without the risk of lockups or wait times before they can use their cash for ordinary expenses.

3. Automated cash management

To help businesses allocate their cash resources, Mayfair offers a tool to automate cash management. The automation tool checks and rebalances a customer's cash account versus their operating account daily to ensure they always have a pre-designated amount of funds. This eliminates the typical manual work of logging into different banks, checking balances, estimating cash requirements, then making transfers, freeing up hours of management time per week.

Preparing businesses for the unexpected

The global economic landscape may remain volatile in 2023. Lack of sufficient liquidity may restrict a business's ability to cover expenses, purchase inventory, invest in new technology, and retain the right talent. At the same time, cash-strapped businesses may not be able to afford to ignore the possibility of rising rates.

Rather than leaving idle cash in a bank account with little to no return, businesses can receive payments by holding their cash with innovative fintech firms. Mayfair offers one such safe and liquid cash management solution that may allow entrepreneurs to take the best step forward for their businesses.

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