Minnwest Bank

Investment Sweep

An Investment Sweep Account from Minnwest can invest excess funds in your checking account automatically or move funds back into your checking account as necessary without any manual transfer between accounts. Your business earns additional income without sacrificing liquidity

How Does It Work?

Transfer Funds Automatically to Maximize EarningsInvestment-Sweep-Graphic

Minnwest will work with you to determine a target balance in your checking account to cover daily activity and offset typical bank service charges through the Account Analysis. At the close of each business day when all transactions are accounted for, collected balances in excess of the 'target' balance are swept into an internal Minnwest interest-bearing account or an external investment account. As your cash needs require, funds are swept from the investment account back to the checking account automatically by Minnwest.

 Is It Right for My Business?

Opportunity to Reduce Interest Expense

  • Businesses that have idle or excess cash and want to earn a higher return on available cash.
  • Businesses concerned about maintaining liquidity of funds.
  • Businesses that don't have the time or staff to actively manage day to day investment options.

Benefits & Features

  • Funds are invested and returned to your checking account automatically.
  • Daily activity can be monitored through Business Online Banking.
  • Investment Options Include:
    • Interest-bearing checking accounts
      earning a market rates of interest.
    • External sweeps to SET Investments*, a non FDIC insured money market mutual fund.
    • An Insured Cash Sweep (ICS) money market account facilitated through CDARS* that provides full FDIC insurance on funds invested. Some limitations apply.
    • May be integrated with Minnwest Investment Sweeps and related Zero Balance Accounts.
  • May be integrated with Minnwest Investment Sweeps and related Zero Balance Accounts.
  • Time and cost savings not having to manually monitor account balances and transfer funds
  • Maximize investment earnings by fully utilizing excess cash deposits
  • Maintain liquidity on a daily basis without incurring overdraft fees

*Not available at all locations

 

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