|Execusweep is an automated system that “sweeps” excess funds from your account daily, allowing you to manage short-term funds through one main operating account. You designate a target balance and any excess funds available at the end of the day are invested or used to pay down your line of credit. In addition, funds can be automatically transferred from your line of credit to meet daily operating needs. Your business benefits from: |
- Increased income — Investing excess funds allows you to earn a competitive rate on otherwise idle balances.
- Greater liquidity — An automatic sweep account provides the opportunity to be fully invested yet have same day access to funds.
- Reduced costs — Use excess funds to pay down your line of credit and reduce interest expense. Overdraft charges are also reduced through funding your checking account from your line of credit when needed.
With an investment sweep, you choose your desired target balance. Any balances above that level are automatically swept into Overnight Repurchase Agreements.
Sweep funds from your line of credit. Whenever your account is short of funds, funds are automatically swept from your line of credit into your operating account. When additional funds are deposited into your operating account, they are automatically swept out to pay down the operating line.
Bremer also provides our clients with the option of having both the loan and investment sweep.