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Put excess cash balances to work for you.
Putting idle cash to work is a key strategy in cash management and capital preservation. Choose from a number of investment service options that assist you in maintaining optimal liquidity. With a sweeps account, excess cash balances are automatically invested overnight to generate income, reduce debt, or both. It’s that simple.
Any funds over a determined targeted level will be invested in an investment vehicle of your choice, with options including overnight repurchase agreements and money market mutual fund sweeps. Invested balances allow you to maximize the earning potential of surplus funds while ensuring the liquidity of your working capital. Detailed daily reports keep you informed on fund movements and investment maturities.
A sweep to line of credit is executed when operating balances fall below a targeted level. Funds are automatically swept from your existing Citizens Bank line of credit to maintain your operating target amount. Excess balances in the sweeps account are used to pay down your outstanding loan balances to reduce interest expense.
A combination of the Sweep to Investment and Sweep to Line of Credit services, this sweep service uses any excess balances from your sweeps account to pay down your outstanding loan balances, and then invests the remaining funds in one of various investment vehicles. If deficient balances exist in your sweeps account, funds will be advanced under your line of credit, or invested funds will be liquidated to bring operating balances up to your preferred level.
Looking for more flexibility and transparency in the oversight of your accounts? SweepNet Reporting is a secure, Internet-based reporting tool that enables you to view the activities of subsidiary accounts in a Zero Balance Account (ZBA) structure. Activities of sub-accounts are shown as if they were not ZBAs. SweepNet® also allows you to cascade the parent account’s borrowing and investing rates to each subsidiary’s cash balance for reporting purposes, making it easy to determine your internal cost of funds. Alternatively, you may assign discretionary interest rates to each subsidiary account. The flexibility of SweepNet Reporting gives you the ability to view some -- or all -- of your sweeps account activities in a ZBA relationship.
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