Commercial Sweep Account
A Commercial Sweep Account is a convenient and hassle-free approach to earning a higher yield on those funds you don’t need right now. This account is ideal for managing a steady cash flow between an operating account and one that earns you higher interest rates. We’ll work with you to designate a predetermined standard for automatically transferring – or sweeping – your funds between your operating account and the Auto Sweep Deposit Account.
How Does It Work?
Funds in excess of your predetermined threshold will sweep daily from your JMB operating account into your JMB Auto Sweep Deposit Account. If your operating account balance drops, funds automatically transfer from the Auto Sweep Deposit Account to cover expenditures and replenish your balance.
Benefits
- Provides liquidity by making funds immediately accessible
- Earns interest instead of funds sitting inactive in a checking account
- Saves time by not having to monitor and manually move funds, allowing you to focus on your business
- Maximizes earning potential while requiring minimal effort
Commercial Sweep Account Rates |
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| From | To | Rate |
| – | $100,000.00 | 0.25% |
| $100,000.01 | $500,000.00 | 0.50% |
| $500,000.01 | $2,000,000.00 | 1.00% |
| $2,000,000.01 | + | 1.50% |
- Additional fees may apply depending on the type of commercial operating account established and/or additional JMB Treasury Management Services implemented.
- Monthly fee for the Auto Sweep Deposit Account is $50. However, limited-time Special Sweeptacular offer will waive the Auto Sweep Deposit Account monthly fee of $50 provided overall monthly average balance maintained in the operating account is $150,000.00 and customer must enroll in e-statements.
