Business Sweep

Cash Sweep Account For Business Accounts

A Complete Cash Management Solution. Competitive Rates and Convenience

Severn Savings Bank Cash Sweep Account

Serving the needs of our business customers and recognizing the challenges of effectively managing your operating cash are goals to which we are committed. This is why we are pleased to offer the Severn Cash Sweep Account.

The cash sweep account uniquely combines a business checking account with the ease of automatically investing excess cash in an interest-bearing account. You can maximize your revenue and enjoy check writing without having to juggle balances between accounts.

Benefits of a Sweep Account

You can manage your cash balances more easily with a Severn Cash Sweep Account and benefit from:

• Competitive yields
• Seamless cash management
• FDIC insurance of up to $100,000 for each depositor

How It Works

With a Severn Cash Sweep Account, cash in excess of your target balance is automatically invested in an FDIC-insured money market account, ensuring competitive rates on all of your excess cash balances.

And, if your end-of-day checking account balance falls below your target balance, funds will be automatically swept back to your checking account by Reserve Management Corporation.

Because the sweeps to and from your checking account are automatic, there is no need for you to worry about managing your daily balances. There are no last-minute phone calls, no wire transfers, no transaction fees and no penalty fees. You concentrate on your business and we'll concentrate on your cash management.

How To Get Started

Step 1:
Contact your banker to set up a Severn Cash Sweep Account or to convert an existing conventional checking account.

Step 2:
Plan to meet your objectives. Your Severn banker will work with you to confirm the ideal target balance that you need to manage your daily business, and any excess cash will be automatically swept daily into the insured sweep account.

Step 3:
Deposit cash and start earning interest on your excess balances automatically!

Step 4:
Enjoy the convenience of earning more interest on your cash. In most cases, the automatic sweep begins the same day you make your initial deposit.

Severn Savings Bank
Cash Sweep Account for Business Accounts

Effective, Profitable Solutions

The Severn Cash Sweep Account is designed for all business accounts, including corporations, small businesses and nonprofit organizations. The account offers competitive money market rates and an added measure of security with FDIC insurance of up to $100,000 for each depositor.

With a Severn Cash Sweep Account, you not only maximize the return on your cash balances with ease and convenience, you also enjoy the safety of FDIC insurance.

About Severn Savings Bank and The Reserve

The Reserve, with over $80 billion in assets under management, provides cash management services and solutions to hundreds of institutions, representing millions of customers. Reserve Management Corporation acts as your agent in maintaining the Severn Cash Sweep Account.

Profit from the combined expertise that Severn and The Reserve provide. We have the resources to help you take your business to the next level.

FDIC insurance on each Severn Savings Bank Cash Sweep Account will be limited to a combined total of $100,000 for all deposits held in the same legal ownership category for each depositor per bank, which includes the Severn Savings Bank Cash Sweep Account and any other balances held directly or through other intermediaries.