Liquidity & Cash Optimization
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Maximize your company's excess funds with sweep services. Sweeping funds between accounts eliminates the need for manual transfers, saving administrative time and expenses. Business sweeps are designed to sweep funds between a primary account and subsidiary account(s). In most cases, subsidiary accounts serve an operating purpose, while the sweep destination account (or primary account) is more permanent holding of funds.
Standard Sweep
A standard sweep links two accounts—either two checking accounts or a checking account and a line of credit. You set a target balance for the subsidiary account, and at the end of each business day, funds are automatically transferred to or from the linked account to maintain that balance.
Advanced Sweep
An advanced sweep links more than two accounts. Target balances are set for each subsidiary account, and funds are automatically transferred between the primary account and the subsidiary accounts to maintain those balances. Advanced sweeps can include checking accounts and/or loan accounts.
- Example 1: A business with multiple retail locations makes daily deposits. An advanced sweep can automatically transfer those deposited funds into a central “destination” account.
- Example 2: Some businesses prefer to keep minimal balances in operating accounts and automatically move funds to and from an operating line of credit. When cash flow is tight, the line of credit helps cover funding needs; when cash flow improves, excess funds are swept back to pay down the line of credit balance.
Ready to Learn More or Get Started?
Submit the form below and a bank representative will reach out to you answer your questions and assist with the sweep set-up.
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