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If your deposit account balance falls below your target, funds will be swept from your line of credit to cover the difference, thereby reducing the risk of overdraft fees. When you have a balance on your line of credit, excess collected funds are swept back to minimize loan interest expense.
The sweep occurs automatically, so there is no balance monitoring, no manual funds transfers, and no paperwork, freeing up valuable resources to focus on other business.
To learn more, contact your Relationship Manager or our Treasury Management consultant at (888) 248-6423.
*Automated Loan Sweep accounts require an active line of credit.