A Sweep Account is an investment vehicle that allows a business to earn investment income on excess cash. Sweeps eliminate time-consuming cash management tasks by executing the customer’s investment decisions on a daily basis. A sweep account is set up to electronically transfer out excess funds from your commercial checking account to an investment account. This process works in reverse when funds in the commercial checking account fall below a certain balance.
FEATURES
A Sweep Account is a fully automated process with no transaction fees.
Daily trade confirmations are delivered by US Mail.
