Sweep Accounts

A Sweep Account is a great tool that allows easy cash flow while maximizing earning potential on sitting cash reserves. This product streamlines your finances by automatically transferring excess funds from your commercial checking account to your interest-bearing account, helping you optimize your returns effortlessly. Fees may apply.

• Select the minimum and maximum target balance amount to be maintained in your checking account.
• Earn interest on excess funds.

Sweep Account features:

• Convenience: Automatically move excess funds between your commercial checking account and an interest-bearing Money Market Account.
• Streamline: Make Spencer Savings Bank loan payments with your Sweep Account or link to other accounts.
• Reliability: Transfer of available funds happens at the end of each business day.
• Ease of Use: Pay bills easily and avoid insufficient funds in checking accounts.