The goal with any type of sweep account is to keep your money working as hard as it can at all times. Funds can be swept from your investment account or line of credit into your transaction account to pay bills or cover your payroll. Conversely, excess funds in your transaction account can be swept back to the investment account. We offer the following sweeps:
Credit Line Sweep
Link your checking account with a line of credit and automatically transfer funds between accounts to maintain balances and reduce service charges. One or two-way sweeps allow you to consolidate deposits or fund accounts.
Investment Sweep Account
This account can help you earn more interest. The Investment Sweep Account is linked to your operating account. Each night, excess collected balances are automatically transferred to the Investment Sweep Account where they earn interest.
Zero Balance Account
Automatically pool your business funds into a central operating account, eliminating time spent tracking balances and manually funding subsidiary accounts. Any excess funds in your primary account can be invested to increase returns and maintain liquidity while minimizing the risk of overdraft fees.
- All funds are deposited into a central operating account
- Subsidiary accounts to handle payroll, petty cash, or other needs always maintain zero balance requirements
- The total for all checks presented against your Zero Balance Account is offset by a debit to the central operating account
- Funds are automatically transferred to and from your central and subsidiary accounts.