Respond to daily changes in your cash position by making automatic borrowing or payment decisions. Make the most of your money without having to constantly monitor and transfer between accounts.

Cash Management Sweep

Cash Management Sweep service automatically links your checking account to a line of credit to minimize interest expense. The entire process is automated, thereby reducing time and costs associated with monitoring daily liquidity needs.

How It Works

At the close of each business day, the available balance on the checking account will determine the sweep process. If the checking account has excess available funds after all transactions have been processed, the funds will transfer as a payment to the line of credit. If the checking account needs additional funds after all transactions have cleared, an automatic advance from the line of credit will take place to bring the account to the pre-determined compensating balance.

Details:

  • Ideal for business checking and line of credit users
  • Automatically sweeps funds to and from a line of credit
  • Reduces interest expense
  • Avoids costly overdrafts
  • Creates operational efficiencies
  • Eliminate the hassle of daily monitoring
Enhanced Cash Sweep

Our Enhanced Cash Sweep is an automated service designed for customers with both a line of credit and an interest-bearing checking account. The Enhanced Cash Sweep transfers funds between the business checking account, line of credit and interest- bearing checking account for maximum interest savings and earning potential.

How It Works

At the close of each business day, the available balance on the business checking account will automatically transfer as a payment to the line of credit. If the line of credit carries a zero balance, funds will automatically be deposited into the interest-bearing checking account.

If the business checking account needs additional funds after all transactions have cleared at end of day, funds will automatically transfer from the interest-bearing account. If there are not sufficient funds in the interest-bearing account, an automatic advance from the line of credit will take place to bring the account to the pre-determined compensating line of credit.

Details:

  • Ideal for seasonal businesses with irregular cash flow
  • Automatically sweeps funds between line of credit and an interest-bearing checking account
  • Minimize interest expense
  • Earn interest on excess idle cash
  • Reduce time and costs associated with monitoring daily liquidity needs
Insured Cash Sweep

Through ICS, the Insured Cash Sweep® service, you can earn interest on funds placed into demand deposit accounts and rest assured knowing that your ICS funds are eligible for multi-million dollar FDIC insurance. You can also enjoy unlimited program withdrawals per month.

How It Works

At the close of each business day, funds will automatically transfer to and from the Insured Cash Sweep account as needed. Funds held in the ICS account are protected by other ICS Network banks in amounts below the standard FDIC insurance maximum ($250,000). This makes your full balance eligible for FDIC protection. As a result, you can access FDIC insurance coverage from many institutions while working directly with just us, an institution you already know and trust.

Details:

  • Ideal for depositors with excess cash balances
  • Automatically sweeps excess funds to and from an interest-bearing account
  • FDIC protection on all balances
  • Eliminate the hassle of transferring idle cash balances to and from an interest-bearing account