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. Once cash has been deposited in your account, the line of credit is automatically paid down to minimize your interest costs. Investment Sweep Options: Collected funds in excess of established target balances will be swept to an interest-bearing investment vehicle of choice at nightly. With the Line of Credit Sweep you'll borrow only the amount necessary to prevent an overdraft. Below the Equities and Equities options, you can see the following figures: Selected Totals, Subtotals, Overall Totals, Cash & Sweep Vehicle Totals, Overall P/L YTD (your profit or loss year-to-date), and Available Dollars. Subject to credit approval, you can establish a Line of Credit Sweep that will work in conjunction with certain investment options. Cash Sweep Vehicle refers to the automatic deposit of uninvested funds in an Account into either the Bank Deposit Sweep or an available money market mutual fund or such other sweep arrangements made available to you. 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.
PNC offers a suite of sweep products to fit your needs: It is your money, but its not necessarily equivalent to available funds for trading. 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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