Business Cash Management Sweep
Reduce interest expense and enhance your return on surplus funds with Business Cash Management Sweep services.
Establish a target balance for your checking account, and any surplus funds will be automatically transferred to a tiered-rate investment account to maximize your return, or automatically pay down a business line of credit to reduce your interest expense. When operating funds fall below your targeted level, funds will also be automatically transferred into your checking account
from either a line, or a sweep deposit account to meet your operating needs.
Sweep services may be set up on any St. Mary’s business checking account and include the following options:
- Geared for small to medium-sized businesses
- All balance tiers earn interest
- No monthly maintenance fee and no sweep fees
- Minimum target balance in the associated checking account: $10,000
- Monitor the activity on your business accounts with Online Banking
- Sweep to investment
- Sweep to line of credit
- Sweep to line and to investment