I have a client who states that at another bank they have their business checking account. Everynight the money is taken from the account and invested and then everymorning it comes back in. How do they do this? I can't be invested in a MMA or Savings because of the number of transfers allowed. Anyone have this service?

It could be a repurchase agreement. Additionally, those are not FDIC insured.

Probably. Thank you.