Business Money Market Sweep
Our new Business Money Market Sweep feature allows you to maximize your earnings by "sweeping" excess checking account funds into your money market account where it can earn interest.
Here's how it works:
- You establish a target balance for your business checking account. The minimum target balance for this account is $50,000.
- When your checking balance exceeds the target balance, the excess funds are then swept into your Money Market Sweep Account where they can earn a competitive rate of interest.
- If funds are needed to pay a debit item, or your checking account balance falls below your target balance, funds are swept back into your checking account to pay debit items and restore balance to target.
In addition to helping you earn more, this account gives you flexible access to your funds and also helps you maintain FDIC coverage (up to regulatory limits).
To learn more about the Business Money Market Sweep feature or to start maximizing your earnings call 1-800-COMPASS or stop by your local BBVA Compass Banking Center.
