Let Us Help Your Money Work Harder
At City National, we offer sweep accounts to small businesses to ensure that your money really does its work for you.
How Sweep Accounts Operate
With our Deposit Account Automated Investment Sweep Account, if your checking account reaches an established target collected balance, the excess funds are automatically swept on a daily basis out of your checking account and invested in a non-FDIC-insured money market mutual fund. Funds are also automatically swept back into your checking account if needed.
Sweep Account Features
Our Deposit Account Automated Investment Sweep Account, gives you:
- Several investment fund options.
- Access to your combined balances through ATM cards and Telephone Banking, and online access through our Online Cash Management products.
Investing in Mutual Funds
Please note that mutual funds are:
- Are Not insured by the FDIC or any other federal government agency
- Are Not deposits of or guaranteed by a Bank or any Bank Affiliate
- May Lose Value
An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
Investing in mutual funds involves risk, including possible loss of principal.