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NOTICE: The financial community is seeing an aggressive increase in scams and phishing.

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Business Sweep Account

Help your business funds work harder for you.

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Relax and let your business funds work harder and grow faster for you. With a Business Sweep Account, you can arrange to have excess funds periodically “swept” from your checking account and deposited into a high-yield Platinum Business Savings account – absolutely free.

It’s a simple way to help your business funds work harder and grow faster for you, automatically.

What is a Sweep Account?

A sweep account is a cash management tool offered by financial institutions, designed to make your money work harder for your business. It’s an automatic and seamless process that efficiently manages your business’s funds by transferring excess cash from your checking account to an interest-bearing account.

How Sweep Accounts Benefit You

  • Optimized Cash Management: One of the key benefits of sweep accounts is the optimization of your business’s cash resources. Excess funds in your checking account are automatically moved to an interest-bearing account, allowing your money to grow over time.
  • Streamlined Finances: Managing cash flow can be a complex task for businesses. Sweep accounts simplify this process by automating the transfer of funds, reducing the need for manual intervention and allowing you to focus on other aspects of your business.
  • Enhanced Earnings: With funds moved to an interest-bearing account, your business earns interest on idle cash, which can significantly boost your earnings over time.
  • Overdraft Protection: Sweep accounts can act as a safety net for your business. If your checking account balance falls below a specified minimum, funds can be swept back to cover overdrafts, helping you avoid costly fees.
  • Loan Management: For businesses with lines of credit, sweep accounts can be used strategically to pay down outstanding balances, reducing interest expenses.

Open a Sweep Account Today

Find out if your business can benefit from a sweep account by calling a UCCU expert today or visiting one of our local branches.

(801) 223-7665 | [email protected]
or visit us at any UCCU branch location.

Available Monday – Friday 9 am – 5:30 pm

How does a sweep account work?

A sweep account automatically transfers excess funds from your checking account to an interest-bearing account, helping your business maximize earnings on idle cash.

Can sweep accounts be customized to my business’s needs?

Yes, sweep accounts can be tailored to fit your business’s specific financial goals and requirements. You can set rules and criteria for when and how funds are swept.

Is a sweep account suitable for small businesses?

Absolutely! Sweep accounts benefit businesses of all sizes by providing efficient cash management and enhancing earnings potential.

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Mon – Fri: 8:00 am – 6:00 pm
Sat: 9:00 am – 2:00 pm

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