Can I make deposits into more than one account?
A Line of Credit sweep connects your Business Checking account and your Commercial Line of Credit. This connections pushes or pulls funds to and from your Line of Credit to meet your targeted balance on your Business Checking, based on the order specified during setup.
How does the line of credit sweep work?
Deposits, Checks and ACH transactions process throughout the day on your business checking account and our systems identify the need to move funds from or to the Line of Credit. During nightly processing, available funds will sweep based on the established targeted balance.
How do I set up a commercial line of credit sweep?
Contact your Account Officers to go over the set up forms and get started today!
What are the fees for a commercial line of credit sweep?
There is an additional charge for this service for managing your cash flow more effectively.
How do I access my history of the sweep transactions?
You can access your daily sweep transactions through Business Express Banking.
Who can use a line of credit sweep?
Any business with a revolving Lines of Credit in current standing that has not matured, with the exception of a SBA Line of Credit.