Money Management

Line of Credit Sweep allows you to minimize your interest expense by using excess funds to pay down your line of credit balance.

Benefits

• Transfer your excess balances automatically to maximize the use of your deposits
• Reduces need for manual balance allocation decisions
• Provides for overdraft protection with sufficient available credit
• Reduces outstanding balances in line of credit

Transferring money manually can lead to timing challenges and human error. A zero balance account helps you eliminate those risks. Access multiple accounts from a single pool of funds, eliminating the need to manually fund individual accounts.

Benefits

• Deposit concentration – funds may be deposited into the clearing account and moved automatically to the parent account
• Simplifies reconciliation with individual statements
• Individual account numbers simplifies tracking
• Reduces the risk of overdraft