![]() (c) Products are subject to investment risks, including possible loss of the principal amount invested. Institutions, like ours, that offer ICS are a member of the IntraFi network. (b) Are not insured by the Federal Deposit Insurance Corporation, any other governmental agency, or any other insurer. Funds held by the Bank pursuant to a repurchase transaction: Margin Balance: The balance of any credits or debits in your margin account. Your sole recourse with respect to the obligations of the Bank is against Bank and against the purchased securities and any income with respect thereof. Sweep Bank means the Schwab-affiliated, FDIC-insured bank, as referenced in your account statements and disclosed in your account documents into which free credit balances may be automatically deposited pursuant to your Account Agreement. The great thing about the sweep account is that when you want. ![]() Because you dont have to monitor and manually move funds, you can spend more time focusing on your business. Also, if you elect to have dividends paid in cash, they will sweep into the account. A sweep account also provides liquiditymany of the investment vehicles used are accessible, such as money market funds or high-interest savings accounts. As you deposit cash into an account, it will, by default, go into the sweep. Any specific repurchase transaction represents an obligation of First Federal (Bank). One of the greatest benefits of having an account at an FDIC-insured bank is deposit insurance, which protects your money. Sweep Accounts Consolidate funds at the end of business day for reporting and investment purposes Provides investment alternatives in various market vehicles. The Bank of the West Sweep Account (Sweep Account) is a cash sweep option offered by BancWest Investment Services, Inc. When you setup a new brokerage account, you usually have to assign what you do with your cash. When cash is needed for various transactions, such as the purchase of securities, available funds on deposit are automatically used to satisfy those needs. With the Merrill Lynch Bank Deposit Program, you can take advantage of an automatic cash sweep feature and daily liquidity. Your funds are still available when you need them Up to 1,000,000 for a two-party joint account.Earn interest on your excess funds each night when First Federal repurchases the securities and sweeps the funds back into your business checking account.* With First Federal’s Business Sweep, funds over your target balance will be “swept” each night and used to purchase United States government and agency securities.
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