How to create a business sweep
The business sweep feature ensures that a certain threshold is maintained in a business checking by transferring funds between the checking account and a higher interest money market or savings account at the end of each business day.
You can set up sweeps in any amount between $1,000 and $100,000, based on your business balances and needs.
If a business sweep has been created, review the step by step guide on how to edit and delete a sweep.
This article covers the following topics:
Mobile
If you're using a mobile device, follow the steps below. For computers, go to the desktop steps
Move Money method
On the bottom menu, tap Move Money.
Tap Business Sweeps.
Tap Select Account to select the account you want to sweep.
Tap Target Balance.
Set a Target Balance. Erase the default balance using the backspace key, and enter the desired amount.
Note: The minimum amount is $1,000.
Select an available Money Market or Savings Account. You are selecting an account you want the funds swept to or from.
Tap Continue.
Review the set target balance and account selection. If correct click Confirm. To edit, tap Cancel.
Your business sweep has been activated and created. Tap Continue to return to the sweep option for edit and delete options.
Account screen method
From the Accounts screen, select the business checking account you want to sweep.
Tap the Sweep option.
Tap Target Balance.
Set a Target Balance. Erase the default balance using the backspace key, and enter the desired amount.
Note: The minimum amount is $1,000.
Select an available Money Market or Savings Account. You are selecting an account you want the funds swept to or from.
Tap Continue.
Review the set target balance and account selection. If correct click Confirm. To edit, tap Cancel.
Your business sweep has been activated and created. Tap Continue to return to the sweep option for edit and delete options.
Desktop
If you're using a computer, follow the steps below. For mobile devices, go to the mobile steps
On the left menu, click Business Sweeps.
Click Select Account and choose the account you want to sweep.
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Click Target Balance, and set the amount you would like to remain in the account.
Note: The minimum amount is $1,000.
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Select an available Money Market or Savings Account. You are selecting an account you want the funds swept to or from.
Click Continue.
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Review the set target balance and account selection. If correct, click Confirm. To edit, click Cancel.
Your business sweep has been activated and created. Click Continue to return to the sweep option for edit and delete options.
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Click the Sweep option.
Click Target Balance, and set the amount you would like to remain in the account.
Note: The minimum amount is $1,000.
Click Select Account.
Choose an available account you want to sweep.
Click Select Account. Select an available Money Market or Savings Account. You are selecting an account you want the funds swept to or from.
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Click Continue.
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Review the set target balance and account selection. If correct, click Confirm. To edit, click Cancel.
Your business sweep has been activated and created. Click Continue to return to the sweep option for edit and delete options.
