Sweep Services

Reduce interest expense, maximize earnings potential and reduce potential overdrafts by automatically sweeping funds. Additionally, gain peace of mind and keep excess funds FDIC insured through the overnight investment services.

Reduce idle balances and maximize interest income in the FDIC insured sweep to the Demand Deposit Marketplace (DDM) Overnight Sweep offered through Reich & Tang.

  • High levels of FDIC insurance: Up to $50 million per Tax ID in aggregate
  • Liquidity: Daily liquidity with no deposit/withdrawal restrictions or penalties
  • Safety: Deposits, up to the program maximum are fully insured by the FDIC thereby eliminating the risk associated with money fund investing (market, credit, economic, etc.)
  • Convenience: The sweep eliminates the need to maintain multiple banking relationships to achieve high levels of FDIC insurance
  • Competitive: Rates are competitive with money market funds while eliminating credit risk and provide the value of FDIC insurance

Automatically process advances and pay downs on the line of credit.

  • Reduces Line of Credit interest expense
  • Ensures available checking account balances are being applied to  the Line of Credit
  • Eliminates overdrafts caused by aggressive manual investment decisions
  • Minimizes manual involvement, saving time and money

Eliminate the need to manually transfer funds between accounts by automatically transferring available balances from sub-accounts into a master account allowing you to consolidate funds.

  • Eliminates manual internal book transfer processing
  • Eliminates manual account monitoring for excess balances or risking overdrafts
  • Protects operating account numbers

Contact Our Team

Call (860) 704-2411 to learn more about these services.

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Some products may be subject to additional terms and conditions or fees.