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Bank Sweep Manager

Bank Sweep Manager is designed for the large corporate depositor. It provides automatic cash management of funds by utilizing retail Repurchase Agreements (repos). A repo is a contract between Level One Bank and our customer, constituting a short-term debt obligation of Level One Bank. Repos are not FDIC insured but are secured by the pledge of U.S. securities, which are fully guaranteed by the United States or one of its agencies.

How it Works

  • Each night, after all debits/credits are posted to your account, excess funds are automatically swept into an investment
  • You can establish a target balance for your checking account
  • Balances exceeding the target balance are automatically transferred to your investment
  • The next morning, funds are moved back into your checking account

Benefits

  • Enjoy peace of mind as your cash works hard for you without manual intervention
  • Interest is paid on sweep accounts according to various daily balance levels or tiers
  • Instantly produces repo agreement confirmations in PDF format
  • Automatically sends a secure email report to you
  • Statements are sent electronically at month end
  • Confirmations show the customer the specific security collateralizing your account


Fees may apply. Contact 248-737-0300 or e-mail us for more information.

Need help?

Contact our team of financial professionals to learn more about our products and services.


24/7 Customer Support

Call or chat with a real person. Nights, weekends and most holidays.

Thank you for visiting https://www.levelonebank.com/Business/Commercial-Depository-Services/Treasury-Management/Bank-Sweep-Manager
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