Our Investment Sweep service can help you maintain your business checking account at the target balance you and your account officer select. At the close of business each day, the excess funds are automatically swept from the account and invested in your selected investment option.
Benefits
This service is ideal if you manually monitor excess funds or investments or have idle funds that do not produce interest income, because it:
- Maximizes investment earnings while eliminating the need to monitor balances daily
- Maintains liquidity to meet working capital needs each day
How does it work?
If you choose to invest in one of the investment vehicles listed below, and your commercial checking balance drops below your target balance, money will transfer automatically from the mutual fund account to your checking account. Please note that sweeps to/from the Federated Funds occur on a next day basis.
Once you select an investment vehicle; purchases and redemptions occur automatically. Your cost for the Automated Cash Investment Service is a bank product charge based on the amount invested in the fund you select, and additional fund fees.
Service Offerings
The Automated Cash Investment Service offers several different investment vehicles with features tailored to meet your investment objectives.
You may choose one from any of the following types of Money Funds offered by Federated Investors:
- Commercial paper
- Government
- Treasury
- Tax free
Call us at 1.800.205.3464 or email us, and we will be happy to help you get started.
