BB&T Credit Line Sweep Plus helps you manage the funds in your business accounts to maximize your return. Credit Line Sweep Plus automatically funds your company's checking account from your line of credit and makes payments to that same line of credit with available funds. Shortfalls in your checking account are also automatically covered with funds drawn from the company's line of credit.

Sweep Process

BB&T Credit Sweep Plus also automatically invests idle funds in higher yielding deposits. Your BB&T business checking account is linked to a Money Rate Savings Account. Each night, any funds over your chosen balance are automatically swept into your choice of investments.

How the sweep process works:

Your business checking account is linked to a Money Rate Savings account
Choose an investment option and set target balance for the checking account established
Funds in excess of that target amount are automatically transferred to the Money Rate Savings Account and into your chosen investment option
If the checking account balance falls below the target, funds from the Money Rate Savings Account are automatically transferred over to reestablish the balance
On the first business day of the month, any funds in an investment will move back to the operating account and then be moved to the Money Rate Savings Account

Restrictions

Funds invested in one of the business Money Rate Savings options are FDIC insured for up to six transfers
Checks may not be written on the Money Rate Savings account
The Money Rate Savings Account cannot accept deposits other than through Sweep Advantage
Transfers from the Money Rate Savings account are limited to six within a monthly service charge cycle to comply with the Federal Reserve Board's Regulation D transfer limits
At the sixth transfer in the cycle, all available funds in the Money Rate Savings account are transferred to the actual, stand-alone investment choice you originally defined
From that point forward, unlimited transfer activity is permitted between the four investment vehicles, but the funds are not FDIC insured. However, the full faith and credit of BB&T Corporation back them

Investment Options

BB&T offers two investment options.

Master Note

A Master Note is a short term, unsecured obligation of BB&T Corporation, BB&T's holding company
Rates vary according to money market conditions and are subject to change daily

Repurchase Agreement (Repo)

This investment involves the purchase of a government security from BB&T with a contractual agreement to sell back the security the next day
Repo rates are quoted daily, based on prevailing money market rates
Minimum investment amount of $25,000
Funds in the stand-alone Repurchase Agreement are fully collateralized with securities placed with the Federal Reserve, but are not FDIC insured