A Sweep Account is a smart business choice if your checking account balance typically significantly exceeds your daily operating expenses.
At the close of each business day, excess cash above a specified balance is automatically transferred, into an interest earning account1 where they stay invested until needed in the checking account. Sweep funds are automatically transferred back into the checking account as needed to maintain the account at the specified balance.
Business Sweep Checking automatically links your checking account to an FDIC-insured PNC money market deposit account.
Working Cash® Sweep links your checking account to a non-FDIC insured money market mutual fund or a PNC offshore deposit account.