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Business > Business Services > Business Solutions Sweep

Business Solutions Sweep

We recognize the challenges of managing working capital and keeping a business profitable.

By instituting the NYCB Business Solutions Sweep Account, you have another tool to help your business prosper and grow.

  • Earn interest on the idle balances in business solutions checking accounts
  • Easy to set up and manage - it's easy to set up and the automatic transferring of balances means minimal ongoing maintenance
  • Unlimited number of transactions to support your cash flow needs
  • Seamless integration with your existing business checking accounts
  • Support your local economy as deposits are kept within your community
  • Choice of using a solution where funds are not swept to an uninsured money market fund

Here's how it works...

After opening a NYCB Business Solutions Sweep Account, or updating your existing Business Solutions checking account, cash in excess of a target balance is automatically invested in an interest earning account nightly at NYCB. This cash earns interest - ensuring that your working capital is working as hard as you do.

If your end-of-day balance falls below your target, funds are automatically swept back into your checking account to meet your liquidity needs. Best of all, these sweeps are automatic. There is no need for you to worry about managing your daily balance or rush to transfer money at the end of the day. In addition, there are no transaction fees and no penalty fees.*

You can concentrate on running your business. We will concentrate on managing your cash.

For additional information, please visit your local branch.

*Subject to availability of funds and certain transaction limitations. There is a monthly service charge for this service. Please call (877) 353-7631 to speak with a representative for details.

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