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Our sweep accounts enable you to maintain a target balance in your account each day, while investing excess funds, reducing debt, and/or automatically funding your other Seaside accounts.
Automated Sweep Investment
Funds are swept automatically to an interest-bearing, overnight investment maximizing your interest income while maintaining easy access to funds needed to cover account activity. Investment options include money market funds (both taxable and non taxable), as well as fully collateralized repurchase agreements.
Automated Sweep to Line of Credit
Your Seaside checking account is linked to your Seaside Line of Credit to automatically maintain a daily target balance in the checking account. Automatic funding or pay downs will help you better manage your cash flow and reduce interest expense.
Zero Balance Account (ZBA)
This service allows you to link your Seaside checking accounts together, in order to concentrate funds into a single account (the master account) and maintain a target balance in the other linked sub-accounts.
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