- sweep account
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Finance. a checking account from which money in excess of a specified amount is automatically transferred to another account or to an investment that earns a higher rate of return.
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Universalium. 2010.
sweep account
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Sweep account — Account in which the bank takes all of the excess available funds at the close of each business day and invests them for the firm. The New York Times Financial Glossary * * * sweep account UK US noun [C] BANKING, FINANCE ► a bank account that… … Financial and business terms
Sweep account — A sweep account is an account set up at a bank or other financial institution where the funds are automatically managed between a primary cash account and secondary investment accounts.In banking, sweep accounts are primarily used as a legal… … Wikipedia
sweep account — A deposit account, usually at a bank, that periodically removes a portion of the customer s funds into a higher yielding instrument. Bank sweep accounts are often sold as cash management tools. With a bank sweep account, idle funds are swept each … Financial and business terms
Sweep Account — A bank account that automatically transfers amounts that exceed (or fall short of) a certain level into a higher interest earning investment option at the close of each business day. Commonly, the excess cash is swept into money market funds. In… … Investment dictionary
sweep account — Finance. a checking account from which money in excess of a specified amount is automatically transferred to another account or to an investment that earns a higher rate of return … Useful english dictionary
Sweep — may refer to any of the following:Cleaning * Chimney sweep * Street sweeper * To clean using a broom or brushBoating* A kind of oar used for guiding bateaus and similar boats * In sport rowing, a boat that has only one oar per rowerports* Sweep… … Wikipedia
Account (disambiguation) — Account may refer to:* An account in accounting * Accounts at banks and/or other financial institutions. ** Current account (banking) ** Deposit account ** Personal account ** Sweep account * User account The means by which a user can access a… … Wikipedia
Sweep theory — is an aeronautical engineering description of the behavior of airflow over a wing when the wing s leading edge encounters the airflow at an oblique angle. The development of sweep theory resulted in the swept wing design used by most modern jet… … Wikipedia
Sweep investment — A sweep investment, or sweep investment account, is a secondary bank account that offers additional investment options on idle funds in a primary cash or checking account. [cite web| url=http://www.latam.citibank.com/corporate/lattco/english/trans… … Wikipedia
sweep arrangement — /ˈswip əreɪndʒmənt/ (say sweep uhraynjmuhnt) noun a facility offered to individual customers of a bank or other financial institution whereby funds in excess of a certain level held in an account earning no or low interest, are automatically… …
