Banking Together: We are pleased to announce legal approval for the merger of First Merchants Bank and Level One Bank. Learn More.

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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


  • 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.

How can we help?

Call and speak with a customer service representative or visit our Customer Support Center to submit a request for assistance, chat with our team, and view frequently asked questions. 


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