Stockton Commercial Banking - Business Sweep Account

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Last Update:
February 20, 2010
5:22am PT

BUSINESS SWEEP ACCOUNT

"Sweep" refers to automatically transferring money to another account based on balance criteria you determine. Community Bank staff will work with you to establish an appropriate minimum and maximum balance for your general or "core" checking account.

If the available balance of your general or "core" checking account falls below the minimum, money is swept into the account.
If the available balance of your general or "core" checking account goes above the maximum, money is swept out of the account.

Use sweeps for payroll accounts, investments, loans, or other administrative accounts such as "petty cash" for better cash management.

Benefits for Your Company

Increased interest earnings from more precise, automated management of cash; company receives the benefit of "float".
Reduced interest expense when in a borrowing position due to automated management of balances.
Using standard sweep increments facilitates record keeping and reconciliation.
Less effort for your staff to manage cash position -- no telephone calls needed.
Increased productivity.

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NOTICE OF CHANGES IN TEMPORARY FDIC
INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC�s general deposit insurance rules.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

Lost or stolen Visa® Check Card, call (209) 956-7000 Monday-Friday 9am-5pm or 1-800-754-4128 after hours. For other important telephone numbers, click here. Community Bank of San Joaquin
Main Office 22 West Yokuts Avenue Stockton, CA 95207-5715 [map] 209-956-7000	Waterloo Office 4426 East Waterloo Road Stockton, CA 95215-2306 [map] 209-373-4300
Services Available: Administration, Branch, Loans, Full-Service Drive-Up, ATM* and Night Depository*	Services Available: Branch, Loans, ATM* and Night Depository*
Office Hours: Monday-Thursday 9am-5pm Friday 9am-6pm Saturday 9am-1pm and By Appointment	Office Hours: Monday-Thursday 9am-5pm Friday 9am-6pm
*This service available 24 hours a day.

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