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9/15/2016Receivables Management Elizabeth Miller,CTP1 AASBOACHLockbox ServiceRegions Quick DepositVault ServicesSweep ServicesZBAImaging ServicesRegionsOneWire Transfer (Incoming)iTreasuryMerchant
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What is sweep services?
Sweep services refer to the automatic transfer of funds from one account to another in order to maintain a minimum balance or maximize interest.
Who is required to file sweep services?
Financial institutions and businesses that offer sweep services to their customers are required to file sweep services.
How to fill out sweep services?
Sweep services can be filled out by documenting the details of the automatic fund transfers, including the accounts involved and the frequency of the transfers.
What is the purpose of sweep services?
The purpose of sweep services is to optimize the utilization of funds by automatically transferring excess funds to accounts where they can earn higher returns.
What information must be reported on sweep services?
Reporting on sweep services must include details of the accounts involved, the amount of funds transferred, and the frequency of the transfers.
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