Offset Fees & Maximize Earnings
Start using First National Bank of Elk River’s Sweep Account to increase earning potential and decrease expenses today.
We provide the tools and expertise necessary to:
- Get your idle funds working for you every day
- Minimize or eliminate overdrafts
- Minimize time spent monitoring your accounts
- Disburse funds more quickly with centralized account management
An investment sweep account works as follows:
- You choose your desired target balances for each of your business checking accounts.
- Your daily transactions are processed within each of your business checking accounts.
- Any balances above your target balance are automatically swept each day into Overnight Repurchase Agreements.
- Resulting earnings are deposited into the business checking account of your choice on a monthly basis.
Note: Sweep accounts are not FDIC insured, are not guaranteed by, or an obligation of, this Financial Institution and involve risk including possible loss of principal.