Hibernia offers automatic sweep arrangements for checking accounts and lines of credit giving you the ability to make the most efficient use of your cash.
High Balance Insured Cash Sweep (ICS) Service
Through ICS, Hibernia can offer FDIC insurance coverage for all of your business funds. Funds will be swept from a transaction account at Hibernia into interest-bearing MMDA at multiple banks. The funds will then be made available to cover your financial needs when requested while providing full FDIC insurance coverage for amounts in excess of $250,000.
Hibernia Bank Sweep Accounts maximize your company’s cash flow by automating the funding of your business’ payables or paying down your business line of credit. Sweep accounts automatically ‘sweep’ excess funds between your business’ primary checking account and a secondary investment account. Hibernia’s Online Banking platform provides next day visibility of all sweep activity.
- Repurchase Sweeps
- Loan Sweeps