Why spend your time moving your money around every day? Let CSB transfer your funds between your accounts to maximize your return and reduce your fees. You make the deposits and write the checks - we’ll do the rest. CSB’s Business Sweep products will efficiently manage your money for you!
- Your funds are automatically managed between your primary business checking account and a secondary sweep account.
- Any excess collected funds can be transferred to an investment product, a repurchase agreement, or a line of credit.
- Need those funds the next day? No problem! Funds will be swept back into your checking account to maintain the collected balance in your business checking account.
- Funds transfer in $10,000 increments.
- You can write checks and make deposits to your business checking account without the hassle of making manual transfers.
- CSB will calculate the collected balance needed to offset your account fees.
TYPES OF BUSINESS SWEEPS:
LINE OF CREDIT SWEEP
- If your checking account needs collected funds at the end of the day, an automatic transfer will be drawn on your line of credit. No overdrafts!
- If your account has extra collected funds at the end of the day, an automatic transfer will be made to pay down the line - saving you interest expense!
REPURCHASE AGREEMENT SWEEP
- If your account has extra collected funds at the end of the day, an automatic transfer will be made to your sweep account- earning you interest!
- U.S. Government and Agency securities are pledged against the balance of funds in excess of a target balance.
- This sweep account is not a deposit account and not insured by FDIC.
- If your account has extra collected funds at the end of the day, an automatic transfer will be made to your investment account - earning you interest!
- This account is a deposit account covered by FDIC insurance up to standard coverage amounts.
CSB CASH MANAGEMENT TEAM
- Ashley Vaughn (330.763.2828) | Jennifer Deam (330.763.2831) | Kelly Cottrell (330.674.9015)
- Other terms, fees, and restrictions may apply. Subject to credit approval.
- Let us help determine what sweep product is best for you!
- Easy to set up. Start managing your funds more efficiently today!