How Sweeps Work
Make the most of your money
We’ll work together to set a target balance for your account; then, at the end of each business day, our service “sweeps” the account for excess funds and ensures that money is invested or used to pay down debt. It’s a set-it-and-forget-it way to put your money to work.
Investment sweep*
Each day, checking funds in excess of your predetermined target balance are transferred to your investment account. Conversely, if more funds are needed, money is transferred into your checking account from your investments.
Credit sweep
With help from your lender, you can also set up sweeps with a line of credit to help reduce your interest expense by automatically transferring dollars above and beyond your set balance as payments to your loan balance. Likewise, if you need funds for disbursements, funds will be automatically advanced from your credit line.
Combined sweeps
The best of both worlds — a combined sweep collects extra funds from all accounts, applies funds to your loan balance, then invests the rest in your investment account* to generate additional income. As a result, you’ll eliminate idle funds, minimize wasted time and labor costs, maximize interest income, and reduce interest expense.
Zero balance accounts
Looking to consolidate your cash? A zero balance account maintains a nightly balance of zero by automatically transferring funds to and from a master account. This also allows you to separate activity for payroll, wires, ACH, or deposits.
Frequently Asked Questions
Yes. Based on your requested access, you may make a payment to your UBT loan from any of your UBT funded accounts via the transfer options through Business Banking Online.
Yes. You can allow users our “Standard Access”, which includes transfers, stop payment capabilities, and mobile deposit, or a “View Only” option.
The fees associated with a Business Analysis Checking account include a monthly maintenance fee as well as checking activity charges for debits and credits.
Basic Fees Include:
Maintenance Fee - $15 monthly fee.
Balance MGT fee - Calculated based on average positive account balance that is maintained.
Electronic Debits - $0.15 per item.
Electronic Credits - $0.20 per item.
Deposited Items - $0.10 per item.
Regular credits - $0.27 per item.
Return check items - $7.00 per item.
Paid check off of account - $0.17 per item.
Other fees may apply depending on additional products & services that may be utilized.
Contact a Treasury Management Services representative for complete details.
Yes, interest may be available on Basic Business Checking with Interest for eligible organizations.
Yes. Typically, a line of credit is an effective form of overdraft protection for businesses. Visit with a Treasury Management Officer (402-323-1557) for more details.
Yes, a business debit card is available and encouraged for all business checking accounts. There is no annual or transactions fees and the purchase detail appears on your checking statement.
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