What is a Business Savings Sweep account?

Our sweeps service takes everyday balances and automatically sweeps (moves) excess balances daily from your U.S. Bank business checking account to an FDIC-insured interest-bearing savings account.

How does it work?

Your funds sweep daily from your business checking account to your savings account in $500 increments. If your checking account balance dips, funds move back to cover outlays and replenish your balance.

Business Savings Sweep account benefits

  • FDIC insured
  • Lets you set the target checking balance to maintain (minimum of $10,000 required)
  • Pays a higher interest rate as your balance grows
  • Accrues interest daily and pays interest monthly

Open a Business Savings Sweep account

Have these documents ready:

Your business’s Employer Identification Number (EIN) or tax ID number (Sole proprietors can use the owner’s Social Security number)

Articles of Incorporation, Articles of Organization, or a charter or a similar legal document that indicates when your company was formed (not required for sole proprietors)

Government-issued photo ID and Social Security number for you and anyone else authorized to sign checks or make transactions on behalf of your organization

Make an appointment

Get started

Request call
Call 800-673-3555
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Disclosures

Deposit products are offered by U.S. Bank National Association. Member FDIC.