Sweep Account
Increase profits by putting your money to work for you. Our Investment sweep account automatically moves excess account balances from your ECB business checking account to a separate investment account overnight.*
If the account that funds were swept from drops below the amount needed to cover outstanding checks, funds are transferred back. With this service, ECB can take balances that would otherwise be idle and turn them into profit generators for your business.
- Summary
- Maximize all funds
- Increase profitability
- Linked to your ECB business checking account(s)
- Excess funds automatically swept to interest-bearing or investment account
- Funds automatically sweep back to checking account if needed
*Funds are swept into account of overnight repurchase agreements, which are collateralized government securities. They are not FDIC insured. Additionally, accounts that sweep into overnight investments are not considered non-interest-bearing; therefore they will not be covered under the FDIC's Transaction Account Guarantee Program.
