If EA Funds wants an effortless “zero risk” option to hold the cash, putting all of the money in a high yield business saving account looks like the way to go. This would probably only take several hours to set up.
According to variousonlinereviews “Community Bank of Pleasant Hill Business Premier Money Management Account” seems the best, and “Goldwater Bank Savings Plus Personal & Business Account” looks good as well. Free withdrawals seem to be limited to twice a month but the withdrawal fee is pretty negligible relative to learning $20,000 in annual interest.
To increase yield, using CDs is an easy next step. Otherwise, opening a brokerage account and putting the capital into a money market fund or a short term bond fund would be a relatively low risk and higher yielding option.
If EA Funds wants an effortless “zero risk” option to hold the cash, putting all of the money in a high yield business saving account looks like the way to go. This would probably only take several hours to set up.
According to various online reviews “Community Bank of Pleasant Hill Business Premier Money Management Account” seems the best, and “Goldwater Bank Savings Plus Personal & Business Account” looks good as well. Free withdrawals seem to be limited to twice a month but the withdrawal fee is pretty negligible relative to learning $20,000 in annual interest.
To increase yield, using CDs is an easy next step. Otherwise, opening a brokerage account and putting the capital into a money market fund or a short term bond fund would be a relatively low risk and higher yielding option.