Interest Checking Sweep
Let Broadway Bank help you keep excess cash invested at all times.
Our interest checking sweep solution automates the process of investing your excess cash, eliminating idle funds in your checking account.Benefits of Interest Checking Sweep:
- Increase Efficiency. The sweep solution automatically moves funds to/from the interest checking account. When a shortfall occurs in the primary account, funds are automatically withdrawn to cover any obligations. Conversely when a surplus exists, funds are moved into the interest-bearing checking account.
- Maximize Interest. Because the sweep moves all excess collected funds into the interest-bearing checking account, interest earnings are maximized.
How Does Interest Checking Sweep Work?
- Specify a target balance, if desired, for your primary checking account.
- At the close of each business day, the bank will automatically cash position your checking account to include the stated target balance. Excess funds are automatically transferred to the interest-bearing checking account. Funds are automatically transferred from the interest-bearing account to your primary checking if a shortfall exists.
Contact Treasury Solutions
Contact our Treasury Solutions team today to see how you will benefit from modern banking that’s locally sourced and personally delivered.Easy Solutions
With business operating accounts, payroll processing, credit cards, lines of credit and equipment loans, we have what it takes to move your business forward.
Local Decision Making
As a regional, independent bank with deep ties in the community, our bankers have an understanding of this market and know how to position you for success.
Experienced Partner
Success lies between knowing you have the personal touch of a small bank paired with the expertise of a Wall Street titan. As the region’s largest and strongest independent bank you get the best of both.
A separate agreement and fees may apply.
