Sweep Services

Loan sweep

If your company has an open line of credit, a loan sweep can reduce the burden of determining your daily cash position. Once all debits and credits have cleared for the day, any cash exceeding a pre-determined amount will transfer from your checking account to your line of credit. From there, if your checking account requires funding, it will be rebalanced with money from your line of credit the next day.

BENEFITS:

• Reduces interest build-up on your line of credit by utilizing excess operating account balances
• Automates daily cash position determination and transfer decisions
• Transfers funds from line of credit to deposit account the next day to maintain target balance, if necessary

Zero balance account

Consolidate balances from multiple accounts into a single master account. Collected funds are transferred daily to or from your master account, bringing secondary accounts to zero or a pre-determined target balance.

BENEFITS:

• Monitors daily cash position
• Aggregates collected funds conveniently to execute investments and loan payments
• Boosts efficiency and cuts expenses by automating transfers

Investment sweep

First Commercial Bank’s investment sweep service offers companies and public entities¹ an excellent way to maximize investment potential while maintaining control over daily liquidity needs.

The service transfers or "sweeps" funds in excess of a preset target from your operating account into Dreyfus Cash Management Funds².

BENEFITS:

• Automates investment of excess funds
• Nightly sweep after checks and other debits are made 
• Provides ready access to operating funds 
• Dividends accrue daily, paid during the first week following month-end