ZPF Bank Sweep Account
Our sweep account links a corporate checking account with an investment account, such as Call Account or Fixed Deposit. It automatically keeps the checking account balance at a preset target level, by transferring funds to or from the investment account as needed.
Sweep accounts allow businesses to get higher returns on cash that might otherwise be in checking accounts. ZPF Bank Sweep accounts require you to maintain a minimum balance. We will then “sweep” the account (usually daily) and remove any funds in excess of the balance minimum.
These funds are automatically invested in an account you select. When your checking account drops below its required balance, we then automatically “sweep” back enough cash to bring your account up to its required minimum balance.
Benefits of maintaining a sweep account includes:
- Ability to invest smaller amounts of funds on a regular basis.
- ZPF Bank Sweep Account is convenient because extra funds are automatically moved into an investment account without requiring you to make the transfer yourself.
- Liquidity as you are offered same-day access to the invested funds
- Access to a variety of investment instruments to select from.
- Benefit of earning returns from your funds
- Because most small businesses don’t have the time or capital to reap the benefits of more profitable investments, sweep accounts make a lot of sense.
Every company is eligible
- Be an accountholder
- Meet the Terms & Conditions
- Fill out a form placing instructions on the account