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This account helps eliminate non-earning idle cash balances. On a daily basis, excess funds above a predetermined balance will automatically be swept from your analysis checking account into the interest-bearing Collateralized Sweep Account.
- No minimum balance to open
- Service fees are covered by non-interest bearing portion while excess funds are swept to earn interest, or all funds can be swept if fees are charged to the account
- Interest is accrued daily and posts to your account at month end
- Set up on Analysis System
- Signed Sweep Agreement