Put your idle checking account balance to work. Earn competitive interest rates on your checking account balances – automatically. Citizens Sweep Manager automatically manages your cash, allowing you to focus on more important issues. Many businesses spend countless hours trying to manage their excess checking account balances – transferring idle cash to and from higher yielding accounts to maximize their earnings.
With Citizens Sweep Manager, a predetermined balance remains in your checking account to cover daily transactions and to offset your account maintenance and activity fees. Funds are automatically swept back to your business checking account to cover the checks presented and to return your checking account to the predetermined balance.
Citizens Sweep Manager balances earn a competitive rate of return by being invested overnight in a repurchase agreement.
Effective Management of Your Cash Requirements
The Benefits of Sweep Manager
What is a repurchase agreement and how does it work?
Are your funds protected when invested in repurchase agreements?
Any amounts invested in Securities pursuant to Repurchase Agreements under the Citizens Sweep Manager Agreement are not deposits, are not insured by (in terms of Repurchase Agreement contractual obligations) the Federal Deposit Insurance Corporation (the “FDIC”), are not (although the securities themselves may be) guaranteed in any way by the United States or any of its agencies, and are subject to investment risks, including possible loss of principal invested.