Grow and Retain Core Deposits
Intrasweep's On-Balance-Sheet Sweep helps your bank grow and retain core deposits, keep deposits on your balance sheet, and fund local loan demand.
Benefits to Your Bank
- Generate and retain core deposits and grow loanable funds
- Pay interest on excess business checking account balances to attract and retain your best customers
- Retain cash on your balance sheet
- Reduce your administrative sweep burdens through automatic transfers
- Profitably supplement your repo program, or even replace it
- Fund local loan demand and contribute to the growth of your community
How It Works
- Your customers deposit funds and their working capital as usual at your bank
- Cash in excess of each customer's target balance is automatically invested in a money market account nightly at your bank
- If the end-of-day balance falls below the target, funds are automatically swept back into the customer's checking account
- You pay your customers interest on the cash in their accounts
- Your bank retains core deposits on its balance sheet