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FDIC

FDIC-Insured - Backed by the full faith and credit of the U.S. Government

FDIC

FDIC-Insured - Backed by the full faith and credit of the U.S. Government

PERSONAL & BUSINESS BANKING

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Kearny Insured Liquidity Sweep Account

Simplify your business banking with one source

Simplify your business banking with one source

No more complex banking relationships. With Kearny's Insured Liquidity Sweep account, an innovative program that connects your checking accounts across participating financial institutions, you can consolidate your cash holdings with FDIC-Insurance coverage up to $50 million in deposits.

It's simple to protect your short-term cash holdings with a trusted partner managing and maintaining the daily minimum balance of your choice. The excess funds are transferred into an interest-bearing account until needed. Plus, the Kearny Insured Liquidity Sweep account lets your business enjoy maximum flexibility to access all your funds via check, wire, EFT and debit cards.

Want to know more? Contact us at 973-244-4516 to learn about how the Kearny Insured Liquidity Sweep account can benefit your business.

Focus on Your Business While We Protect Your Banking

You can simplify your financial processes and eliminate paperwork by linking your accounts to an insured liquidity sweep account at Kearny Bank. Our innovative program automatically allocates deposits exceeding the $250,000 FDIC Insurance limit per business tax ID to insured accounts across other participating financial institutions. Join our program to unlock the full benefits of streamlined banking.

The insured liquidity sweep account is available to individuals, businesses and government entities. Consider the important advantages:

  • Expanded levels of FDIC Insurance, up to $50 million per individual tax ID
  • Automatic end-of-day transfer of funds in excess of target balance you set
  • Earns a competitive interest rate
  • No withdrawal limitations
  • Automatically transfers funds to meet daily account balance needs
  • Daily balance reporting
  • Separate monthly investment account statement
  • Download detailed flyer here.

Kearny Insured Liquidity Sweep FAQs

How are banks vetted in the system?

Banks that are deposit taking banks within the program are only considered if they are categorized as “well capitalized” by the FDIC and have no outstanding enforcement actions such as cease and desist orders, particularly as it relates to capital structure. Status is evaluated quarterly.

Have you experienced a bank failure within the program?

How do we know where our money is?

Are there any restrictions or delays to access funds?

What if I already have funds in one or more of the banks in the program?

If we deposit up to the program maximum, is interest posted still insured?

How is interest posted?

How is interest calculated?

Who pays the interest?

Download a fact sheet with all of the FAQ to the bottom.

Download all FAQs here

Start realizing the benefits of the Kearny Insured Liquidity Sweep account, make an appointment today.

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