Sweep and Zero Balance Account Services

Sweep Account Services
Sweep account services are designed to help you maximize the earnings potential of your excess cash balances in various accounts by “sweeping,” or automatically transferring, them to a different competitive interest earning account. Choose from the following for your business and have your hard-earned money work even harder for you.

Business Investment Account Sweep
Excess funds are automatically swept daily from your designated business checking account and deposited into a competitive interest earning business investment account. Deposit balances are FDIC insured up to the maximum allowable limit.

Business Loan Sweep
Optimize your cash position by automatically drawing down from your credit line to fund cash deficits or pay down your line automatically. This overnight loan sweep works to minimize your loan’s interest expense. Deposit balances are FDIC insured up to the maximum allowable limit.

Automatic Investment Sweep
This service puts your idle balances to work by automatically sweeping surplus funds daily from your designated business checking account and depositing them into a competitive interest earning mutual fund account; there are a number of money market mutual fund options from which to choose. Note: this is not an FDIC insured product. Dollars invested are not guaranteed by the Bank and are subject to investment risks, including possible loss of the principal invested.

Zero Balance Account Service
A Zero Balance Account (ZBA) structure offers easy monitoring of multiple business checking accounts. Your business may maintain any number of collection and disbursement accounts and consolidate, or “sweep,” their cash position daily into a single ZBA concentration account. This helps you maximize cash resources, minimize excess ideal funds, and eliminate overdrafts by providing cash from the concentration accounts to cover disbursements.

With the ZBA, funds are automatically transferred between primary and subsidiary accounts. At the end of each day, a zero balance is maintained in the subsidiary accounts to maximize cash concentration in the primary account.

*Note: There are fees associated with these services. Contact your Treasury Solutions Officer or Customer Service for details. Or, visit your local Bank of the Cascades branch and ask for a Schedule of Fees for the most current pricing.

For more information, please contact your local branch or our Customer Service at 541-617-3500 or 877-617-3400.