Liquidity Sweep Accounts

With fluctuations in monthly cash flow, many companies accumulate substantial balances. Don’t let those funds sit idle, instead put extra funds to use through a Sweep account, a Line of Credit Sweep Account or a combination of the two.

Here’s how it works:

  • At the end of each business day, TowneBank will calculate your daily cash position.
  • If the positive collected balance exceeds the predetermined target balance, funds are automatically used to pay down your TowneBank line of credit or invested in repurchase agreements.
  • Funds can also be automatically transferred from the line of credit and/or sweep account to cover daily cash needs in your primary banking account.