sweep account

Finance. a checking account from which money in excess of a specified amount is automatically transferred to another account or to an investment that earns a higher rate of return.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Example sentences
The decision to use a sweep account comes with many choices.
The sweep account program must meet all of the following criteria before a primary purpose exemption would be considered.
Funds in excess of the zero or target balance should be invested daily in a sweep account covered by an investment agreement.
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