As part of your bank’s investment services, give your commercial customers the opportunity to more efficiently manage their funds flow with Sweeps from CSI Cash Management.
Often referred to as “sweep accounts” or “cash management accounts,” CSI offers two types of fee-income opportunities for banks—one for single accounts and another for two or more accounts. Both products enable your commercial customers to better capitalize on excess funds in investment accounts using sweeps.
CMG Sweep Account
CSI’s CMG cash sweep solution serves the needs of your commercial customers seeking investment services on one checking account. CMG Sweep Accounts feature:
- Flexible Funds Management
With CMG Sweeps, your commercial customers can choose from money market, overnight “repo” repurchase or third-party investment accounts. Rates can be paid in tiers or layers, and funds for these accounts are managed using target balances and transfer increments to control the movement of funds.
- Advanced Reporting
CMG customers receive statements identifying available funds on the operating side of accounts as well as available funds through the investment portion of accounts. Your bank also receives daily reports on all CMG accounts so you’re aware of all available funds, which can be used for authorization throughout the day.
MCMG Sweep Account
In addition to the features offered with CMG accounts, your commercial customers utilizing multiple accounts—or MCMG Sweeps—also benefit from:
- Customized Balance Settings
Target balances (low, high and target) control the movement of funds. These target balances can be customized to best meet your customers’ needs.
- Multiple Account Settings
MCMG Sweeps may be set up with a primary account and multiple secondary accounts. These accounts are not limited to checking accounts—MCMG accounts can also be tied to loans or other types of accounts.
Find out how CSI Sweeps can not only expand fee income for banks, but also enhance your customers’ on-balance-sheet investment opportunities. Learn more by completing a short form today.