Manage your cash position while earning more on daily operating assets. With this account, any funds above a pre-designated amount are “swept” into an interest bearing account. If your checking balance drops below that amount, funds are automatically swept back to cover expenses. Sweep accounts make it easy to grow your assets without getting a headache.
Sweep Accounts Summary
Funds in excess of the target balance are invested in an Overnight Repurchase Agreement1 and are fully collateralized by government securities. So you can be assured that your money is safe.