BT Sweep Services
Fast. Easy. Flexible. Effective. Take control of your finances while your balances work for you with a BT Sweep Account from Bank of Tennessee.
Bank of Tennessee keeps your cash working by providing a BT Sweep Account to business customers who do not want the daily task of managing their daily cash position. The purpose of the account is to provide you earnings on your idle balances. BT Sweep automatically determines a company's cash needs and invests idle collected balances overnight or uses the balances for debt reduction.
The process is automated, and simple to understand. It offers you the flexibility of building investments, decreasing debt, or borrowing when needed. It works like this.
- BT Sweep Account may be a Sweep Investment, a Sweep Line of Credit, or a combination of the two
- A single checking account is chosen
- When an idle balance accumulates over a certain amount, the funds are disbursed for investment or debt reduction overnight and available as needed
- If the account is running low, a sweep account can also transfer needed funds into the checking account from a line of credit
There are numerous benefits to this:
- Transfers to and from investments and lines of credit are automatic, saving you time
- Cash flow is easily managed from a single central account
- Increased earnings are possible on every available balance