Max Earn Daily Sweeps: Configure Investment Sweep Relationship

Screen ID:

Screen Title:

Panel Number:

UMAXEARN-02

Configure Investment Sweep Relationship

7376

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Access this screen by selecting Add Sweep Relationship, Edit, or View on the entry Max Earn Daily Sweeps screen.

Adding a Sweep Relationship

If you are adding a new sweep relationship, select the operating account and the investment account. Use the lookup to view the Global search which will assist you in finding the accounts. When your accounts have been entered, use Enter to reveal the rest of the fields where you configure the details of the sweep relationship.

Entering the Details of the Sweep, Editing the Sweep, or Viewing the Sweep

The fields below the operating and investment accounts are accessible if the steps above are completed, or if the account is accessed via Edit or View. These fields further define the details of the sweep. See diagram of daily sweep on this topic.

NOTE: Partial transfers are allowed. However, the amount will not be "caught up" as it is with an Automated Funds Transfer. What is in the account at the time of the transfer that meets this relationship sweep configuration is what is transferred.

Field Descriptions

Field Name	Description
Operating account	This field documents the operating account the funds begin in. Only checking accounts are eligible. Certificates, IRA, and HSA accounts are ineligible. The lookup will only show eligible accounts. Each operating account can have only one daily sweep. The operating account and investment account do not need to be from the same membership.
Investment account	This field documents the investment account the funds are transferred to for extra dividends. They may or may not be transferred back to operating account per the sweep relationship configuration. Savings and checking accounts are eligible. Certificates, IRA, and HSA accounts are ineligible. The lookup will only show eligible accounts. Multiple operating accounts can sweep into a single investment account. The operating account and investment account do not need to be from the same membership.
Before dividends accrue transfer x to investment account	Select from: All available funds. If this is selected all funds are transferred to the operating account before end of day is processed. Any funds over a balance of x. If this is selected, enter the amount in the field provided. Only this amount will be transferred.
After dividends accrue and EOD balances are calculated, transfer x	After end of day is process, this amount will be transferred back from the investment account to the operating account from the investment account. Select from All Available funds Fixed amount of x No funds, which is selected if all funds should remain in the investment account.
Start date for sweep transfer	This is the date the sweeps should start and allows the sweep relationship to be set up prior to the date it occurs.
Primary transaction description used for both operating and transaction history	This description defaults to MAX SWEEP TRANSFER.
Secondary transaction description	This description is used on both the investment account and operating account. This is blank upon entry. This can be changed.
Monthly fee	A fee can optionally be charged for this service and can vary from relationship to relationship. The fee appears in the Fee/Waiver dashboard as INVSW Investment Sweep Fee. Select from: None (no fee is charged). Monthly fee (a flat monthly fee is charge for the service. Enter the amount in the Fee amount $ field provided when this option is selected. Monthly fee based on investment account average monthly balance. Enter an amount in the Apply fee if investment account average balance fall below $ field that is provided when this option is selected.
G/L account for fee	Required if a fee. Use the lookup to select an appropriate G/L account for the fee.
Fee transaction description	Defaults to MAX SWEEP TRANSFER FEE. This can be changed.