Investment Sweep Accounts

Want to earn more but keep your funds flexible? Ready to maximize your earnings with investing? The Investment Sweep Account could be for you.

This unique account is actually a checking account that performs like an investment account. Have extra money in checking? This account will automatically “sweep” it into your customized selection of money market funds. And since everything is handle by an account expert, you can be sure your extra money earns more while your other money stays available and accessible to you.

Here’s how it works:

• Once you have a checking account, you determine a base balance, or sweep point. At the end of every business day, ASB automatically transfers any excess cash into the Sweep Money Market Account.
• All dividend income is declared daily and will be paid monthly. Each month you will receive an easy-to-read monthly statement that reports all funds activity and income earned. You can also check on it, 24/7, at asbonline.com.
• If at anytime your cash flow demands exceed the sweep point, cash will automatically be transferred back into your checking account. Unlike other programs, the Investment Sweep Account allows unrestricted check writing privileges. What’s more? There are no transaction fees.

The Investment Sweep Account is a great way to earn more. It also gives you:

• Convenience: we’ll sweep your cash, daily, without paperwork
• Earning Potential: earn money on excess cash, just like that
• Access: earn money without locking it away in long-term investments
• Quality: excess cash balances are conservatively invested by experts
• Tax savings: depending on individual circumstances, you could save
• Protection: if cash flow demands exceed the sweep point, we sweep cash right back into your checking account automatically