Business Sweep Accounts
Business Sweep Accounts provide an account into which funds can be transferred and earn interest, and allows immediate access to those funds to meet daily cash flow demands.The investment account is not FDIC insured, accrues interest daily on the ledger balance, and the interest rate is variable and set by Bank of Lancaster.
Based on the pre-set target balance, the system will:
- Automatically transfer funds when they are needed
- Maximizes your investment income from idle cash