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What is a Sweep? |
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The Sweep got it's name because money is actually "swept" from one account to another account at the same bank. |
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The bank assigns one of your accounts, usually a savings account, as a secondary account that will sweep money into a primary account, usually a checking account, whenever the primary account falls below a specific dollar amount. The Sweep is set up to automatically transfer money in the increments that you specify to us. |
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How Do You Benefit? |
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You now have the peace of mind that your primary account will not fall below the minimum required balance, thus avoiding the monthly service charge. Also, for the occasional addition or subtraction error that we all make in our checking accounts, the Sweep will help cover those occasional overdraft items. The charge for a Sweep is $2.00 per sweep versus $30.00 per check for the occasional overdraft. Sounds like a great savings for you! |
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(Savings accounts are limited to a total of six debits or withdrawals by sweep, telephone, or ACH debit transfers in one month or statement cycle by federal regulation. See your account disclosures regarding unlimited types of debits or withdrawals from your account.) |
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How Do I Sign Up for a Sweep? |
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If you think the Sweep is right for you, feel free to e-mail, call, or stop in at any of our convenient locations and ask to speak with one of our friendly customer service representatives about the Sweep option today! |
