Cash Letter Settlements

ACBB Cash Letter Settlements

Sweep Account

With ACBB’s Sweep Services, your bank processes all of its clearings through ACBB’s Fed account.

The Fed settles your items in ACBB’s account and we in turn pass those entries on to your account at ACBB. ACBB can also invest your excess funds each day.

  • Our large Fed target balance acts as additional insurance against overdrafts caused by unexpected large adjustments, return items or misplaced cash letters
  • All activity listed on ACBB statement reduces need to reconcile separate Fed account
  • Receive preferential borrowing rates on overnight Federal Funds
  • Use your ACBB earnings credits to offset all service charges including your Fed charges
  • We also offer our sweep customers a monthly loyalty benefit, which offsets service charges
  • We’ll give your bank prompt, quality service

Contact Us for more information.