Sweep accounts allow your excess cash to automatically sweep between your primary business checking account and a secondary account.
Benefits of Sweep Accounts:
- Save time with the convenient and automated transfer of excess cash
- Eliminate ongoing transaction costs associated with manually transferring funds
Types of Sweep Accounts:
- Zero Balance Sweep Account—Maintain separate accounts for accounting purposes without maintaining balances in every account
- Line of Credit Sweep Account*—Automatically transfer funds from a line of credit to maximize the return on account balances
*Approval Required
