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Don’t let money sit idly by. Put it to work with an automatic sweep account so you can earn interest, or even pay down your line of credit.

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A sweep account for businesses is a separate, interest-bearing account linked to your business checking account. Sweep accounts help business owners manage cash flow by automatically transferring funds from your checking account to the sweep account each day. This is based on a minimum balance you set for your checking account. Any excess funds are moved into your sweep account at the end of each business day. If your business checking account falls below the designated minimum, the amount needed will be transferred out of your sweep account.

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A sweep account is pretty straightforward. Once you establish a minimum balance for your business checking account, the job of a sweep account is to maintain that balance–either by transferring excess funds out of checking to earn interest or by making up a deficit. The benefit of having a sweep account is that your cash flow will improve, you can earn interest on the money you don’t need right now, and you have protection against overdrafting your account.

 

As a local Wisconsin bank that has always been in your community, we are dedicated to helping local businesses in the Fox Valley region meet their financial goals. Conveniently manage your cash flow with a sweep account connected to your business checking account. To learn more about sweep accounts for businesses, contact us or visit your nearest location in Fond du Lac, Oshkosh, or Waupun, WI.

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