Maximize Interest Earnings
Sweep accounts provide a way to ensure your funds are used to maximize interest earnings instead of sitting in low-interest accounts. Sweep accounts remain liquid while still earning higher interest rates – a win-win.
Sweep accounts are quite common as business investment tools, especially for those that need daily cash flow but also want to maximize their earning potential on any cash reserves. A business sweep offers users significant flexibility in how the account is set up, including ensuring a minimum balance is always maintained in the main account.
How it Works
On a daily basis, GRB will automatically transfer excess balances into an interest-bearing account, allowing your business to earn a competitive rate of return on your funds. GRB’s loan sweep links your business checking account and line of credit. Line advances and paydowns are initiated automatically as needed.
There are a number of benefits associated with sweep accounts: