Automated Money Movement
Excess funds move automatically to keep earning interest for you.
Zero Balance Funding
Your operating account is always ready.
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Your full cash position, all in one place.
Most businesses have cash sitting in checking accounts that could be doing more—earning instead of waiting, working instead of idling. Sweep Services automatically moves excess funds into a Business Membership Savings or Business Money Market <LINK TO PAGES> account, while zero balance accounts (ZBA) automatically sweep excess funds to your designated accounts for payroll, accounts payable, or more. Transfers, earnings, and availability depend on account eligibility, target balance settings, transaction limits, available funds, timing, and account terms.
More than just automatic transfers.
Keep every dollar working and every account exactly where it needs to be.
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Automated cash concentration: Helps improve cash positioning across eligible business accounts and reduce idle balances, subject to account terms and target balance settings.
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Target balance settings: Maintain liquidity as you automatically transfer funds to maximize yields and pull in funds to cover expenses.
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Automatic transfers: Reduce time managing your accounts and increase time you can focus on your business.
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Interest or earnings optimization: Automatically move excess balances to an eligible interest or earnings-bearing account.
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Zero balance account functionality: Help manage account balances and reduce manual transfers.
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Multi-account management: Review and manage all your balances in one place, with funds automatically transferred according to your established sweep instructions.
How sweep services works.
Set your target and let your cash find its balance automatically.
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Your account balance is monitored according to the applicable sweep schedule.
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Funds above your established target balance are automatically transferred to the designated sweep account according to the applicable sweep schedule.
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Funds may be transferred back to the designated account based on established balance parameters and the applicable sweep schedule
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Your zero balance accounts (ZBA) pull funds from a designated master account, to help maintain established target balances in designated accounts.
What is the timing for sweep services?
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Activity |
Timeline |
|---|---|
|
Sweep Monitoring |
Automated daily |
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Transfers |
Automated based on target balance |
What is the fee for sweep services?
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Service |
Fee |
|---|---|
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Sweep Services with Zero Balance Accounts |
$40 per month |
A business sweep account automatically transfers excess cash above a set balance into an interest-earning account, so idle funds keep working instead of sitting unused. It’s a cash management tool that helps businesses manage excess balances through automatic transfers.
You can set up sweep services on our Advanced Business Checking and Analyzed Business Checking accounts. It's included with Business Membership Savings and Business Money Market accounts. Sweep services is not available on Basic Business Checking or Business Certificates.
A sweep account moves excess funds into an account once a balance exceeds a set threshold. A zero balance account (ZBA) automatically transfers funds between a designated master account and a linked account based on established balance parameters. Businesses often use ZBAs for payroll accounts that don't need to hold their own cash reserves.
Automatic cash sweeping monitors your account balance daily and transfers any funds above your target threshold into an earning account, then returns funds automatically when your balance drops below that target. This eliminates the need for manual transfers between accounts.
Yes. Zero balance accounts can be used to automatically transfer funds from a designated master account to help maintain established balances for payroll and other operating accounts, subject to available funds and applicable sweep parameters.
Sweep account transfers are processed automatically based on your established target balance and applicable sweep schedule. Funds are transferred between designated accounts when applicable balance parameters are met, subject to available funds and the terms of your Sweep Services Agreement.
Membership eligibility required. Sweep Services are available for eligible business accounts and require enrollment and a signed Sweep Services Agreement. Automatic transfers are made between designated accounts based on established sweep parameters and applicable processing schedules. Fees, account eligibility requirements, rates, transaction limits, and other terms may apply. Funds held in eligible deposit accounts are federally insured by NCUA, subject to applicable coverage limits. See the Sweep Services Agreement and applicable account disclosures for complete terms and conditions.