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Sweep Advantage

BB&T Sweep Advantage 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.

Sweep Process

How it works

  1. Your business checking account is linked to a Money Rate Savings account
  2. Choose an investment option and set target balance for the checking account established
  3. Funds in excess of that target amount are automatically transferred to the Money Rate Savings Account and into your chosen investment option
  4. If the checking account balance falls below the target, funds from the Money Rate Savings Account are automatically transferred over to reestablish the balance
  5. 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 Basic

  • A Master Note is a short-term, unsecured obligation of BB&T Corporation
  • This investment is particularly good for small businesses
  • Rates vary according to money market conditions and are subject to change daily. The minimum investment amount is $25,000

Master Note Standard

  • 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
  • Minimum investment amount of $25,000

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
We will work with you to establish target balances in your business checking account that maintain sufficient balance levels to cover normal transaction volume and any service fees.

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Call BB&T Treasury Management at 800-810-5625.

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