Make use of excess funds to maximize earnings and reduce interest expenses.
With a Comerica Corporate Sweep Account, any idle funds in your checking account are put to work. You set the target balance and sweep option and then at the end of the day your company’s idle balances are swept automatically to the option you choose, earning interest or paying down a line of credit. Funds will then be swept back into the checking account as needed to maintain the target balance and cover any withdrawals from the account.
- Determine a target balance to keep in your checking account
- Choose one or more of the sweep account options
- A Comerica Business Money Market Account (FDIC insured up to the maximum amount allowed by law)
- A non-FDIC-insured investment account, offered through Comerica Securities, Inc.1
- A Comerica business line of credit2
- At the end of the day checking account debits and credits are computed to arrive at your current balance
- Idle collected balances are swept automatically to the option you choose
- Funds are swept back into the checking account as needed to maintain the target balance and cover withdrawals, checks and other debits to the checking account
1 Securities and other non-deposit investment products offered through Comerica Securities, Inc. are not insured by the FDIC; are not deposits or other obligations of, or guaranteed by, Comerica Bank or any of its affiliates; and are subject to investment risks, including possible loss of the principal invested. Past performance is not indicative of future results. Information presented is for general information only and is subject to change. Comerica Securities, Inc. is a broker/dealer, member FINRA/SIPC and subsidiary of Comerica Bank. Comerica Securities, Inc. is a federally Registered Investment Advisor. Registrations do not imply a certain level of skill or training.
The checking account portion of the Corporate Sweep Account is offered by Comerica Bank. The securities offered as a sweep option on the Corporate Sweep Account may be sold by Comerica Securities, Inc. as agent for Comerica Bank.
Deposits held in the checking account portion will be FDIC insured to the extent permitted by law, only until they are used to invest in money market mutual funds or other securities. See the "Special Rules for Sweep Arrangements" section in the Business and Personal Deposit Account Contract.
An investment in a money market fund is not insured or guaranteed by the FDIC or any other government agency. Although money market funds generally seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.
Mutual funds are sold by prospectus. Investors should carefully consider the investment objectives, risks, charges and expenses of mutual funds. This and other important information is contained in the prospectus. Please obtain a prospectus from Comerica Securities, Inc. by calling 800.232.6983. Please read the prospectus carefully before you invest or send money.
2 Loans subject to credit approval.