Money Market Sweep Account - (For companies who maintain strong daily cash balances, allowing them to maximize their return on their cash with the ease of automation).
The Sweep Account works just like a regular checking account. All excess funds (over the predetermined target balance) are automatially swept into a money market transaction account for investment on a daily basis. Since this process is automated, companies no longer will need to monitor multiple accounts and manually transfer funds between operating and money market accounts to maximize the return on their cash position. This account can be combined with zero balance accounts to invest funds from multiple accounts.