Line of Credit Sweep
Manage excess cash
Fidelity Bank’s Line of Credit Sweep is a cost-effective way to manage your excess cash. With this product, a line of credit is linked to your checking account. Fidelity Bank offers two line of credit sweeps to choose from:
Transfers money from your line of credit to your checking account when your balance drops below a predetermined level, protecting you from overdrafts or maintaining your account with the amount of cushion you prefer.
Not only transfers money into your checking account when it drops below a certain level, but also transfers money out of your checking account when it exceeds a predetermined amount and uses it to pay down any outstanding principal on a line of credit.
- Provides the convenience of automatic transfer
- Reduces overdrafts
- Improves cash flow
- Reduces interest expense
Subject to approval. Fees and restrictions may apply. Ask us for more details.