What is an Insured Sweep Account?

An Insured Sweep Account is a checking or savings account at your bank, opened under the applicable agreements, that gives customers access to millions in aggregate insurance across network banks*. Under applicable agreements, your bank places funds across network banks, while the customer keeps one account and one relationship with your bank. Insured Sweep Accounts are particularly beneficial for attracting large-dollar customers including businesses, nonprofits, municipalities, and higher-net-worth individuals to your bank.

How Insured Sweep Accounts work