A Sweep Account is a smart business choice.
After the targeted balance is calculated at the end of the day for your Business Checking account, let a Horicon Bank Sweep Account take over automatically to make the most of any idle collected balances. We’ll invest it or pay down your line of credit, earning or saving you money.
Funds will be swept back into the checking account as needed to maintain the target balance and cover any outlay from the account.
Establishing a Sweep Account is simple.
Determine a target balance to keep in your checking account.
Choose one or both of the sweep account options you want:
- Money Market Investment Account
- Business Line of Credit
At the end of the day, your checking account debits and credits are computed to arrive at your current balance.
Any idle collected balances are swept automatically to the option you choose, earning interest or paying down a line of credit.
Funds are swept back into the checking account as needed to maintain the target balance and cover any withdrawals or checks presented for payment.
Benefits of a Sweep Account:
- Fully Invested
- Save Time
- Flexible Options
- Save Money
- Earn Money