VNB Sweep services automate the movement of balances to potentially earn interest or reduce interest expenses.
- Overnight Sweep: A target balance is established. Balances in excess of the target are invested overnight and swept back into your available balance in the morning. The access balances earn interest without having to manually move funds between accounts.
- Line of Credit Sweep links a VNB Line of Credit and VNB Checking account. A target balance is established at which funds will automatically pull from your VNB Line of Credit to your VNB checking account, or balances in excess of the target are automatically transferred to the VNB Credit Line. This solution provides the convenience of automating movement of funds between a checking account and a line of credit without the need to monitor balances on a daily basis.
Please contact our Treasury Management Department for more details at 434.817.8549.
- Treasury Management