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Sweep Accounts

With fluctuations in monthly cash flow, extra funds can be put to use though a Sweep account, Line of Credit Sweep account, or combination of the two.

  • Funds in excess of your predetermined daily target balance, are automatically used to pay down your TowneBank line of credit or invested in repurchase agreements*

  • Funds can also be automatically transferred back to your primary bank account to cover daily cash needs

For more information on how you can take advantage of TowneBank's Treasury Services, please contact your Hometown Banker.



* The Sweep repurchase agreement is an interest in TowneBank’s U.S. government and agency bond portfolio. Funds are not FDIC-insured; not guaranteed by TowneBank; and may go down in value.

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