Zero Balance Accounts1 enable your organization to automatically transfer funds from a master account to one or more subsidiary accounts, and vice versa.
This automated process (which can support a variety of disbursements and payment account types) allows you to reduce idle balances, eliminate potential overdrafts and consolidate funds for more efficient investment or borrowing decisions.
South State’s Sweep Accounts1 are designed to maximize earning potential and reduce interest expense. Our sweep accounts will automatically sweep excess funds to earn interest or pay down debt.
Line of Credit Sweep – Links your checking account with a line of credit and automatically transfers funds between accounts based on a predetermined target balance.
Business Sweep – Designed for businesses with excess cash and will sweep funds between an operating account and an interest bearing checking account.
Repurchase Account Sweep – Designed for government-affiliated agencies that require collateralization of funds. This allows you to earn interest on your excess funds in your business checking account until those funds are needed.