Sweep Account

Sweep Account

Solutions For Your Business

Sweep Account

Sweep Accounts allow businesses to tie together a transaction checking account and an insured money-market account for the purpose of earning interest on their balances. A target balance is established for the transaction account based on your individual needs.

Funds in excess of the target balance are automatically transferred (swept) to an insured money market account daily, maximizing the earning potential on your account. Should the transaction account fall below zero, funds are automatically transferred from the insured money-market account to the transaction account to bring it to the target balance. The target balance is also established to limit the total number of transfers from the insured money-market account to no more than six time(s) per month.

Key Account Features/Benefits

  • Links your checking account to an FDIC-insured Dart Bank money market deposit account
  • Establish a maximum and minimum target balance in your checking account
  • Balances¬†above your pre-determined maximum target balance are swept into your money market deposit account +”Sweep” system puts funds into money market account or checking account according to rules you set

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