What is a sweep network and how does it work?

An effective business bank account is one that ensures your money is safe while balancing that security with readily available cash funds and a smooth banking experience. Naturally, there’s a lot of work that has to happen behind the scenes in order for a checking account to check all the right boxes. A sweep network is just one example of this system at play.

It’s our job to do whatever we can to ensure the security of your account and make it as easy as possible for you to do the rest. You work hard to grow your business, so we work hard to keep it safe.In practice, this means adapting our account security strategy in lock-step with an ever-evolving financial landscape. Generally, the more layers of protection your account has, the less likely it is to be targeted and breached by a creative hacker or phishing agent.

The financial health of your bank is as important as the money you put into it. So what does financial health look like in the context of a bank, and how do you determine if a bank is healthy?All U.S. banks are regulated and required to submit their financials and industry-standardized health metrics to the FDIC, even if they’re not publicly traded. Banks are also regularly audited by regulators to ensure accuracy.