FDIC-Insured - Backed by the full faith and credit of the U.S. Government
FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Tiered Sweep Investment Account
Provident’s Tiered Sweep Investment Account helps your business put excess cash to work automatically. With built-in liquidity and automation, you can stay focused on running your business while your available funds are managed more efficiently in the background.
How the Tiered Sweep Investment Account Works
Key Benefits:
Repurchase Agreements (Repos)
For short-term investment needs, repurchase agreements provide a secure and efficient option. Under this structure, Provident Bank invests your excess funds in U.S. Treasury and Agency securities, which are fully collateralized at 100% of market value. These investments are repurchased the next business day, offering both safety and liquidity.
You’ll receive daily confirmations for full transparency and easier recordkeeping.
INSURANCE PRODUCTS ARE: NOT FDIC INSURED - MAY GO DOWN IN VALUE - NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY - NOT BANK GUARANTEED - NOT A DEPOSIT.
Everyday Features with Treasury Management
Provident Business Debit Mastercard®
Designed to make everyday business spending simple, secure, and efficient giving you convenient access to your business funds for purchases and payments.
Mobile Banking for Business
Bank anywhere, anytime with our mobile app. Enjoy secure, convenient access to your business accounts.
ProvidentConnect for Business
Securely manage your accounts with ease through ProvidentConnect for Business Online Banking.
Treasury Management Team
Our team of experts are here to help and ensure your success every step of the way.
Frequently Asked Questions
What is a Sweep Investment Account?
A Sweep Investment Account is an automated solution that helps manage your daily cash position to maximize earnings on excess cash.
How does a Sweep Investment Account work?
After setting a target balance, each day funds will be automatically adjusted based on your needs. Any funds above the target balance are swept, or moved, to your Sweep Investment Account. If the balance is below the target balance, funds are transferred back to maintain liquidity.
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111 Wood Avenue South
Suite 200
Iselin, NJ 08830Mailing Address
P.O. Box 1001
Iselin, NJ 08830-1001
