Q: Do I need a new business checking account to take advantage of the sweep account?
A: No. You can use your existing ECB business checking account.

Q: How will I know how much cash I have available in my sweep account?
A: Your balance information will be available through the bank's voice balance reporting system (XPRESS Phone Banking) and will appear on your monthly statement. When you have transfer activity, an investment advice will be sent by fax to you daily.

Q: How often will money be transferred between my checking account and my investment account?
A: If your checking account balance at the end of the day is greater than your collected specified balance, excess funds will be swept into your investment account. Similarly, if your checking account balance falls below your collected specified balance at the end of the day, funds will be automatically swept from your investment account.

Q: Will I be charged every time a transfer is made?
A: No. There are no daily transaction transfer fees.

Q: What are the advantages of using the sweep account?
A: Sweeps offer convenience, instant access to your money, and competitive returns. You no longer need to call the bank to direct the movement of money. We process all your checking account activity, then automatically transfer excess funds (over your target balance) to your investment account. Conversely, should your checking account need funds to cover your checks, we automatically transfer the amount needed from your investment account.

Q: How is interest calculated, and how is it paid?
A: Interest is calculated daily, based on the balance in your investment account, and is paid monthly to your investment account.

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