Max Earnings Daily Sweeps: Investment Sweep Relationships

Access this screen by selecting Tool #1096 Max Earnings Daily Sweep Configuration or Tool #1097 View Max Earnings Daily Sweep Config.

About this Feature

As the name implies, Max Earnings helps businesses maximize dividends on their daily operational accounts via daily sweeps to a higher-earning money market or other credit union investment savings account. Money can be transferred daily between a designated “operating” account and a designated “investment” account. You can even charge a monthly fee to the business member for the service if you like.

In a nutshell, at the end of each processing day before interest is accrued, funds transfer from the operating account to the investment account. At the beginning of the next day, funds transfer (sweep) back to the operating account. The relationship can be configured to sweep all funds or any funds over a specified balance to the investment account. After interest accrual and end-of-day balances have been calculated, all funds, no funds or a fixed amount of funds transfer back to the operating account. After the transactions and fees are posted, two exception reports are posted if transfers to not occur. These reports are only generated if the exception occurs. Find the report samples on this topic.

Monthly fees are optional and set up for each individual sweep, so you can maintain a flexible fee process based on relationship and business type. Each individual sweep relationship can have unique pricing.  Fees are posted on the second day of the month and an exception report is generated at that time for fees that are not charged. Find the report sample on this topic. Fees are taken from the operating account.

Using this Screen

Set up your sweep relationships on this screen or view them if you are using the view-only tool. From this screen you can add a new relationship, edit or view a relationship, and inquire on the operating and investment account (which takes you to account inquiry for the screen. You can also view sweep activity.

Diagram of Daily Sweep