Investments are automatically liquidated from your accounts to cover daily transactions and avoid overdrafts. Money Market Fund Sweep links your checking account to a non-FDIC insured money market mutual fund, Based on the predetermined target account balance, any funds exceeding the target checking account balance are swept into an investment account, once daily transactions have posted.Money Market Deposit and Daily Interest Sweep Account links your checking account to FDIC insured banks products.Only after your line of credit is paid down and your account balances exceed your pre-determined target balance, will your excess cash be swept to an investment. Cash sweep services automatically transfer uninvested cash held in your investment account, such as incoming deposits, dividends, interest and proceeds from. Once cash has been deposited in your account, the line of credit is automatically paid down to minimize your interest costs. With the Line of Credit Sweep you'll borrow only the amount necessary to prevent an overdraft. securities and/or cash in the account to meet a maintenance call. of the COMMAND/Dryden Funds (as defined below) as vehicles for the automatic investment (sometimes referred to as sweep) of available cash balances in. Subject to credit approval, you can establish a Line of Credit Sweep that will work in conjunction with certain investment options. To access the current prospectus for any of the money market fund sweep options. A dually registered adviser or an adviser with an affiliated broker-dealer. Line of Credit Sweep Service is an effective liquidity management solution that can help increase returns on idle cash balances and minimize interest expense on your line of credit. Cash in advisory accounts is often automatically swept into a money market mutual fund or a bank deposit sweep program.PNC offers a suite of sweep products to fit your needs: Managing your working capital and liquidity needs is an essential part of maximizing your earnings, minimizing your interest expense and avoiding the challenges of moving money to confirm that you have sufficient funds to cover your daily operations.
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