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Sweep Accounts
Don't spend time estimating available balances or phoning in investment
instructions. Let us do the work while you rest assured knowing your excess
funds are working to earn interest, yet are available to fund the day-to-day
operation of your business.
Our Investment Sweep Account is a completely automated and collateralized
overnight service designed to convert your excess cash into interest earning
dollars. This service enhances your business checking account by paying you
interest on otherwise idle funds while maintaining liquidity.
Each and every business day, Dollar Bank will transfer all collected funds to
your investment account. These funds are then invested in overnight Repurchase
Agreements.
Funds invested in Repurchase Agreements are not FDIC insured at the time of
investment.
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