Pacific & Western Bank of Canada has launched its new PW Plus Account, an internet-based account specifically designed for the needs of public sector entities.

The PW Plus Account is account is initially available to Canadian hospitals and provides secure anytime access to online accounts in order to invest surplus funds at attractive interest rates, plus borrow funds at low interest rates during cash shortfall periods. Transfers occur at the option of each hospital, giving them total control over their cash management and capital needs.

“We are very excited to launch another innovative product that provides flexibility and added value to the bank’s niche market of public sector organizations,” stated David Taylor, president & CEO of Pacific & Western Credit Corp. Pacific & Western Bank is wholly owned by Pacific & Western Credit.

“While we are initially targeting hospitals, this account will be made available at a later date for municipal and public sector organizations,” Taylor added

The new account was developed by the bank’s sister company, Versabanq Innovations Inc. Versabanq was created to provide innovative software solutions for the financial services industry.