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Using Sweep Accounts For Excess Funds

 
 

Making productive use of surplus funds is an important way to ensure that your cash reserves are continuously growing. Middle-market companies are using Sweep Services to do just that. Instead of letting excess funds sit in a low- or no-interest operating account, this solution automatically “sweeps” these funds into an investment account.


At the end of each day, you can automatically move any funds above a predetermined amount into a designated money market account or other short-term investment vehicle. These funds can also be swept back if your operating account dips too low. If your company has a line of credit, Sweep Services is also a convenient way to make loan payments.


Sun National Bank’s Investment Sweep Services offers a highly flexible way to optimize the use of surplus funds and reduce the time, expense, and effort associated with making daily investment decisions.

Sun National Bank Delivers

Based on the needs of your operating account, our Sweep Services will automatically sweep daily net excess balances into an investment vehicle or liquidate investments to cover account requirements. This enables you to:
  • Earn maximum interest income
  • Eliminate overdrafts
  • Eliminate the need for manual account transfers
  • Explore a wide range of investment vehicles
  • Maximize the use of excess funds

Product Features
Sun National Bank’s Investment Sweep Services help you to:
  • Eliminate the need for daily monitoring of cash and the manual movement of funds
  • Establish a target balance for your operating account so any balances above that target are automatically swept into your investment vehicle on a daily basis
  • Automatically liquidate investments to cover daily disbursement transactions and avoid costly overdrafts


Investment Sweep Services is an efficient and responsive way to support your company’s cash position. Learn more about Sun National Bank’s powerful cash management solutions, including Controlled Disbursement Services, for commercial businesses.


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The information contained herein is for general informational purposes only and does not constitute tax, legal, or business advice.