Optimize your funds with Automated Sweep Services
FVSBank’s Sweep Services help businesses and individuals efficiently manage their cash flow by automating transfers between accounts. Our sweep solutions ensure your money is working for you – maximizing interest earnings, reducing idle balances, and minimizing overdraft risks.
Tailored solutions for your business
Earn Interest
Automatically transfer excess funds to an interest-bearing account, maximizing your return on idle cash.
Reduce Debt
Strategically pay down a line of credit or other loans, helping you manage debt efficiently.
Activate a Safety Net
Seamlessly transfer funds to cover checks or maintain service balance, keeping your finances on track.
Benefits of Sweep Services
- Maximize Interest Earnings
- Improve Cash Flow Management
- Reduce Borrowing Costs
- Prevent Overdrafts
Sweep Services FAQ
What is a sweep account?
A sweep account is a banking feature that automatically transfers excess funds between accounts to optimize cash flow, maximize earnings, or reduce borrowing costs.
How do sweep accounts work?
Sweep accounts follow pre-set rules to move funds between linked accounts. When the balance in one account exceeds or falls below a designated threshold, the system transfers funds automatically to or from another account, such as an interest-bearing account, loan account, or checking account.
How do I set up a sweep account?
Contact an FVSBank Business Banker to discuss your business needs and configure a sweep arrangement that works for you.
Can I customize my sweep account settings?
Yes, you can set balance thresholds, determine transfer amounts, and choose how funds are allocated to fit your financial strategy.