Put Excess Cash to Work with Sweep Accounts

What Is a Sweep Account?

A Sweep Account automatically transfers excess funds from your business checking account into a designated interest-bearing account or loan. When additional funds are needed, balances can be transferred back according to the parameters established for your account.

By automating these transfers, Sweep Accounts help businesses make better use of available cash without requiring daily manual transfers.

How Sweep Accounts Work

Your business establishes a target balance for an operating account. At the end of each business day:

• Excess funds are automatically transferred to a designated account or loan.
• Your operating account maintains the balance needed for routine transactions.
• Funds remain available based on the sweep structure established for your business.

Benefits of Sweep Accounts for Your Business

Sweep Accounts help your business:

• Put excess operating cash to work automatically
• Reduce manual cash transfers
• Improve liquidity management
• Maximize the use of available funds
• Simplify day-to-day cash management

Sweep Accounts can be a good fit for businesses that maintain larger operating balances or experience fluctuating daily cash needs. They are commonly used by businesses looking to keep operating funds accessible while automatically managing excess cash more efficiently.