Cash Sweep

Automated Deposit Account Cash Sweep Services

Enhance and retain customer relationships by offering convenient cash management services through the automated sweep capabilities of Cash Manager from FIS™.  Offering automated cash sweep services for your high-net-worth, commercial and municipal customers can be a competitive advantage for your bank.  The variety of automated sweep options that Cash Manager provides allows your bank to structure a sweep program to meet the specific needs of your customers and your bank.

Cash Manager is a fully-integrated cash sweep program for clients of IBS, Bankway, HORIZON, or MISER that offers your customers deposit placement alternatives, safety and liquidity, and extended FDIC insurance levels while retaining the relationship with your bank.  Cash Manager allows you to automatically sweep excess funds to and from individual deposit accounts into money market mutual funds offered by well-respected providers, an omnibus money market deposit account (MMDA) retained at your bank, or with a network of FDIC-insured banks.

Off Balance Sheet Sweep

Sweep excess balances off of your bank’s balance sheet while offering customers the safety, liquidity, and returns of money market mutual funds.  Ensure your customers’ privacy by establishing an omnibus account at the fund and allow Cash Manager to keep track of the sub-accounting details.  Further tailor your sweep program to specific customer needs through the vast selection of fund choices and styles made available in the program.

  • BlackRock
  • Dreyfus
  • Federated
  • Goldman Sachs
  • Morgan Stanley
  • Reich & Tang

On Balance Sheet Sweep

Retain your deposit balances and improve your bank’s liquidity while providing your customers with the convenience of an automated cash management account and the security of FDIC insurance.  Excess deposits are automatically swept into an omnibus MMDA account retained at the bank to provide interest on accounts with FDIC insurance coverage with full daily liquidity.

  • Reich & Tang On Balance Sheet Sweep

Extended FDIC Insurance Sweep

Combine the convenience and ease-of-operations of the Cash Manager automated sweep platform with industry-leading bank deposit networks to provide large balance deposit accounts with the safety and security of FDIC insurance in amounts well in excess of the $250,000 limit while maintaining the primary customer relationship with your bank.  In addition, the bank can utilize this as a flexible liquidity management tool with full control over reciprocal deposit levels through the network, providing for a source of deposits when needed or as a location to place excess deposit levels.

  • Promontory Insured Cash Sweep (ICS)
  • Reich & Tang Demand Deposit Marketplace (DDM)

 

 

 

 

Related Events