Business Sweep, Business Sweep account

Business Sweep

Coping with daily fluctuations in your business's cash flow requires a lot of painstaking and time-consuming decisions. But you can't afford to do them hastily. That's where Business Sweep comes in. Business Sweep is a fully automated cash management solution that saves staff time as it minimizes the cost of holding cash.

How it works
At the end of each business day, Business Sweep calculates the net available1 balance position in your commercial checking account and then compares the result to a predetermined target balance. Then, if your net cash position is greater than your target balance, Business Sweep automatically uses excess funds to pay down your line of credit2, or transfers excess funds into an investment vehicle that you select.

If your net cash position is less than your target balance, Business Sweep automatically transfers funds from your chosen investment vehicle to cover the shortage or borrows the necessary funds against your line of credit.

Because Business Sweep processing occurs at the end of the business day, you'll never need to predict what the day's income or expenses are going to be.

To learn more about Business Sweep call 800.241.0901.

Efficient and cost-effective cash management

  • Automatic borrowing: Advance only the funds required to meet your daily obligations.
  • Automatic investment: Maximize overnight earnings power through sweeps into your chosen investment instrument.
  • Investment vehicle options: Choose from multiple options, including a SunTrust master note, Eurodollar deposits or one of several mutual funds.

Business Sweep keeps your balance in check

  • Earn competitive interest income: You can eliminate idle balances by investing excess funds in a vehicle with a competitive rate of return.
  • Minimize interest expense: By using excess balances to repay outstanding loans automatically, you minimize interest payments on those loans and preserve your line of credit.
  • Reduce clerical workload: Business Sweep automatically makes routine cash management decisions based on your instructions.
Disclaimers

1Available balance means the balance of collected funds in the account, less the dollar amount of such funds subject to any (i) transaction holds, including without limitation, holds for Check Card and ATM Card transactions, cashed checks, and deposited items for which we have received a return notice, (ii) legal holds, and (iii) certain other holds we have placed on the account.

2All extensions of credit and credit-related services are subject to prior approval.

Contact Us

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Securities, Investment and Insurance Products and Services:

  • Are Not FDIC or any other Government Agency Insured
  • Are Not Bank Guaranteed
  • May Lose Value

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