Utilizing Landmark’s Sweep Services can help you manage your daily cash position and allow you to make the most productive use of your time and money.
- Maximizes investment income
- Reduces borrowing expenses
- Reduces overdrafts and service charges
- Automatic movement of funds
- Efficient monitoring of account activity
Zero Balance Sweep
A Zero Balance Account provides efficient, centralized use of available funds for investment or debt reduction purposes by maintaining account(s) at either a zero balance or other predetermined minimum balance.
- Eliminate idle funds – all available funds will be concentrated in one centralized account
- Better manage your cash position
Money Market Sweep
Business customers can deposit all funds to their commercial checking account and automatically have excess funds – over a predetermined target balance – swept to a Money Market Account.
- Operating dollars are managed efficiently
- Earns an excellent return on excess funds
- Funds automatically sweep to help prevent overdrafts and service charges
- An automated sweep eliminates the need to monitor balances
- Up to 6 debit sweep allowed per month from the Money Market account to the Checking account
- Unlimited debit sweeps allowed from the Checking account to the Money Market account
Line of Credit Sweep
A Line of Credit Sweep can help control your borrowing expenses by attaching a line of credit to a commercial checking account.
- A target balance is set in your checking account.
- Funds in excess of the target balance automatically sweep to your line of credit
- Funds sweep automatically from your line of credit to your checking account when needed
A Dual Sweep combines the services offered in the Money Market Sweep and the Credit Line Sweep - maximize interest income and reduce interest expense.
- Excess funds in their master account will automatically sweep to the line of credit. Once the line of credit is paid to $0, excess funds will automatically sweep to the money market account
- The money market account will act as the first funding source for the commercial checking account
- The line of credit will only fund the master account if the money market account has an available balance of $0
For more information, please contact us.