- You keep high balances in your operating account that you would like to earn interest while balances remain available.
- You don’t have the time to manually transfer balances to interest bearing accounts.
Sweep Account
Ensure that your funds are there when you need them, and that your excess funds are earning a return.
Perfect for you if:
Contact Treasury Solutions: Sweep Account
Sweep Account
Automatically transfers cash funds into an interest-earning account at the close of each business day while balances remain available on a daily basis for cash flow needs.
Features:
- Sweep Accounts help you maximize the earning potential of idle funds by capitalizing on the immediate availability of higher-interest accounts.
- Eliminate the need to transfer funds manually between operating account and interest-earning account.
- Funds sweep back to your single operating account to cover pending ACH debits and checks.
Zero Balance Account [ZBA]
Can be used to segregate funds in accounts for accounting purposes and fraud prevention.
Features:
- A ZBA is a type of business checking account in which the goal is to always keep the balance at $0. It’s usually tied to a main account that sweeps funds into and out of the ZBA as transactions are made.
- The ZBA is used by companies that need to manage separate accounts for payroll, petty cash, departmental spending, or other projects, but don’t want to waste time manually repositioning funds in these accounts.
Disclosures:
All Business Checking Accounts and Treasury Management Services [TMS] are subject to approval and limitations. Normal credit qualifications apply. Additional maintenance and processing fees apply. Enrollment in Treasury Management Services does not replace the legal terms and conditions of any Business Checking Account. Please refer to your agreement and related disclosures for the legal terms and conditions which will affect your product or service.
All Business Checking Accounts and Treasury Management Services [TMS] are subject to approval and limitations. Normal credit qualifications apply. Additional maintenance and processing fees apply. Enrollment in Treasury Management Services does not replace the legal terms and conditions of any Business Checking Account. Please refer to your agreement and related disclosures for the legal terms and conditions which will affect your product or service.