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Kearny Insured Liquidity Sweep

Streamline your business banking by working with a single source.

Streamline your business banking by working with a single source.

This unique program links your checking accounts together across participating financial institutions, so that now, a single banking relationship is all it takes to protect your short-term cash holdings, with full FDIC Insurance coverage up to $25 million in deposits.

Kearny Bank will manage and maintain the daily minimum balance of your choice, and transfer any excess funds into an interest-bearing account until they’re needed. If your checking account drops below its required balance, Kearny Bank automatically sweeps back enough cash to bring your account up to the required minimum balance.

The Kearny Insured Liquidity Sweep account also gives your business maximum flexibility with complete access to all your funds via check, wire, EFT, and debit cards.

Consider the important advantages:

  • Expanded levels of FDIC Insurance, up to $25 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

Single Source Lets You Run Your Business, While Kearny Bank Protects Your Banking

You work exclusively with Kearny Bank when your accounts are linked to an insured liquidity sweep account, eliminating time consuming paper work and record keeping. This exciting program automatically allocates deposits in excess of the $250,000 FDIC Insurance limit per business tax ID to insured accounts in other participating financial institutions.

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

  • Expanded levels of FDIC Insurance, up to $25 million per individual tax ID, $50 million jointly
  • 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

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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