Types of Sweep Accounts at Bank Iowa
Sweep Accounts automatically move funds between your business accounts to help manage cash flow, prevent overdrafts and maximize earnings. Options include:
Line of Credit (LOC) Sweep – Transfers funds daily to and from a Line of Credit to reduce interest expenses, pay down balances, and avoid overdrafts.
Overdraft Protection (ODP) Sweep – Moves funds from a LOC when needed to prevent overdrafts.
Zero Balance / Target Balance (ZBA/TBA) – Keeps a set account balance by automatically sweeping funds to or from another account each day.
Investment Sweep – Sweeps excess funds nightly to and from an interest-bearing account.