Pricing & Service FAQ's

---

We currently work with Investec Bank, and will be adding FNB Enterprise Banking shortly

Yes. We've yet to see a scenario where it hasn't benefited a business to use our program (unless you're in overdraft or have negative cash balances, i.e. nothing to save)

Since we base the required overnight account balances on our financial analysis of your historic transactions and your final approval, the program reflects the best possible savings balance opportunity for your business.

Then, managing the sweeps in and out would not be efficient for any financial team to do manually, which is why we've built our Lazy Cash treasury program to do it for you.

Cheque accounts pay little to no interest on your daily cash balance.

We can earn you additional interest by sweeping money across to a proper business savings account.

Cheque accounts typically have zero to 1% interest, whereas you could earn over 5% on a savings account. 

This extra interest, usually 4%-5%, is what we will earn for you.

Our treasury management approach uses the following main steps:

1. We transfer funds into your cheque account at the beginning of the day based on your business's operational needs.
2. We monitor your cheque account balance several times throughout the day to ensure you have adequate funding.
3. At the end of the day, we execute a sweep to transfer excess funds into your savings account (considering potential after-hours transactions to determine the overnight buffer)

Let's say you start the day with:

• R100,000 in your savings, and
• R30,000 in your cheque account (this is the overnight buffer amount you always need)

At the start of the day, the Lazy Cash program will:

• Top up your cheque account to R75,000 (if this is the agreed working balance you need in your cheque day-to-day)

Throughout the day, you:

• Are paid by your customers - R25,000 into the cheque
• Pay your suppliers - R15,000 from the cheque

At the end of the day, you have:

• R85,000 in your cheque account, so
• Lazy Cash will sweep R55,000 back into savings (since we've agreed you only need R30,000 overnight as a buffer in case of any supplier card payments or debit orders)

Lazy Cash helps ensure you never leave too much in your cheque account overnight.

The Lazy Cash balance in this scenario is R10,000 (the R55,000 swept to savings, less the R45,000 amount swept across in the morning).

Simply put, any excess cash you have left over, our program makes sure it heads over to the proper interest earning account.

The fee is based on your Lazy Cash balance and the extra interest you’ve earned. 

Practically, this means:

• The end-of-day balance we swee into savings, less
• The start-of-day balance we sweep out of savings,
• Multiplied by the extra interest rate %
• On a daily basis

*The extra interest rate is the difference between your savings account and cheque account interest rate.

Movements into your savings account do not count toward the Lazy Cash balance, meaning any interest earned on that cash is not included in our fee. Great job on actively managing your funds and earning interest!

The amounts we transfer into your cheque  account at the beginning of the day and throughout the day are designed to meet your daily needs, so you shouldn't need to withdraw money.

However, if you do need to make a withdrawal from your savings, it will not affect your Lazy Cash balance. 

Yes, higher than, or equal to, the lazy Cash balance.

Any money in the account before we start the program, and any money you move in yourself, is not part of the Lazy Cash balance and not part of our program fee.

If you move money out manually, and the actual balance drops below the Lazy Cash balance, we use the actual (i.e. lower of the two) for our program fee.