Sweep Accounts

Credit sweep links your operating account directly to a revolving line of credit for maximum use of funds (subject to credit approval). The credit sweep automatically transfers money from the line of credit to your operating account as checks are presented. Likewise, idle funds in your checking account are transferred, when appropriate, to pay down your line of credit.

With an overnight investment sweep, Capital Bank can act as your cash manager by optimizing use of funds when you maintain excess balances in your operating account. As checks are presented, funds are automatically transferred from an investment account (repurchase account agreement) to cover the transaction. Likewise, as deposits are made, money is transferred automatically to an overnight investment account until future checks are presented. Typically, business clients maintain a “target balance” in their checking account to offset activity charges.