South State’s Business Sweep Accounts are designed for business accounts to maximize earning potential and reduce interest expense. Tailored to your business’ needs, our sweep accounts will automatically sweep excess funds to earn interest or pay down debt. If your end-of-day checking account balance exceeds your target balance, funds will automatically sweep out into an interest bearing account or sweep to pay down your line of credit. Here are options for you to consider:
Designed for businesses with excess cash, this will sweep funds between the operating account and an interest bearing checking account.
Repurchase Account Sweep1
Designed for government-affiliated agencies that require collateralization of funds. The program allows you to earn interest on your excess funds in your business checking account until those funds are needed, with no minimum investment requirement.
Line of Credit Sweep1
Links your checking account with a line of credit and automatically transfers funds between the accounts based on a predetermined target balance.
To sign up for a Sweeps Accounts, contact your local South State banker.