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Line of Credit Sweep Account

With this product, a line of credit is linked to your checking account. First American offers two line of credit sweeps from which to choose:

One-Way Sweep: Transfers money from your line of credit to your checking account when your balance drops below a predetermined level, protecting you from overdrafts or maintaining your account with the amount of cushion you prefer.

Two-Way Sweep: Not only transfers money into your checking account when it drops below a certain level, but also transfers money out of your checking account when it exceeds a predetermined amount and uses it to pay down any outstanding principal on your line of credit.

First American's Line of Credit Sweep is a cost-effective way to manage your excess cash.

How your company benefits:
  • Provides the convenience of automatic
    transfer
  • Reduces overdrafts
  • Improves cash flow
  • Reduces interest expense
Consider this service if your company:
  • Has a line of credit as well as a
    checking account with First American
  • Requires certainty that funds will always be
    available to cover incoming debits
  • Wants to reduce interest expense     
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