The excess money in your commercial checking account can be earning more dollars for you, and you can avoid the cost associated with the short term investment process. There is a simple way to get more out of your excess cash balances. Our cash sweep solution sweeps excess cash out of your checking account each day into an account secured by U.S. Government Securities owned by The Bank of Fayetteville (Bank) that are pledged to Customer.
Repurchase Sweeps are not deposits of the bank and are not insured by the Federal Deposit Insurance Corporation (FDIC). Through these funds, your excess cash balances can earn consistent, competitive returns. The cash sweep solution can also add significant value to companies who use an operating line of credit. The Bank of Fayetteville can set up your banking relationship so excess cash is swept to and from your line of credit, allowing you to minimize your company's interest cost.