Generate and Retain Core Deposits
This innovative cash sweep helps your bank generate and retain core deposits and improve liquidity. The On-Balance-Sheet Sweep dramatically simplifies effective cash management for your customers by automatically transferring cash from checking to savings and back as needed, and it pays interest on excess balances. With the On-Balance-Sheet Sweep, your customers can focus on growing their businesses instead of managing their cash.
Benefits to Your Bank
- Generate and retain core deposits and grow loanable funds
- Pay interest on excess business checking balances through a fully compliant sweep
- Retain cash on your balance sheet
- Reduce your bank's administrative burden through automatic transfers
- Profitably supplement your repo program, or even replace it
- Fund local loan demand and contribute to the growth of your community
- Your bank maintains its exclusive customer interface
Benefits to Your Customers
- Earn interest on the idle balances in business checking accounts
- Enjoy automated transfers between checking and sweep accounts to eliminate time spent checking balances and initiating transfers
- Reduce administrative burdens such as balance monitoring, transfers, and repo confirmations
- Avoid sweeping to a repo or an uninsured money fund