Navigation:  Deposit Screens > Account Information Screen Group > Additional Fields Screen > Additional Fields tab > Balance and Limit Information field group > Maximum Sweep Limit information

Use this field in the Balance and Limit Information field group to indicate the resulting balance on the customer account once a sweep in or out has occurred.

 

If payments cause the balance on the customer account to go below the amount entered in the Minimum Balance Limit field, money will be swept in from another account to make the balance equal to the amount entered in this field. If the balance on the customer account is greater than the amount entered in this field, money will be swept out to another account to make the balance equal to the amount entered in this field.

 

Loan sweeps on customer deposit accounts process using the Minimum Balance Limit field, the Sweep Minimum Balance field (from the Deposits > Definitions > Product Code screen), and this field. Loan sweeps process as follows:

 

Sweep Outs

•When a sweep out transfer is required, the amount transferred will be the difference between the customer account's Payable Balance (from the Deposits > Account Information > Account Information screen) and the Sweep Minimum Balance (or the value in the Minimum Balance Limit field if the Sweep Minimum Balance field is set to zero) up to the outstanding principal balance on the loan.

•If this field is not set to zero, the sweep out transfer amount will be the difference between the Payable Balance and the value in this field up to the outstanding principal balance on the loan.

 

Sweep Ins

•A sweep in transfer will occur if the Current Balance of a customer account (from the Account Information screen) is below the Sweep Minimum Balance (or the value in the Minimum Balance Limit field if the Sweep Minimum Balance field is set to zero). The sweep in amount will be the difference between the Current Balance and the Sweep Minimum Balance (or the value in the Minimum Balance Limit field if the Sweep Minimum Balance field is set to zero).

•If this field field is not set to zero, the sweep in amount that will be transferred is the difference between the Current Balance and the value in this field.

•The sweep in transfer amount will be limited by the remaining available credit on the loan.

•When the Current Balance of a customer account is between the Sweep Minimum Balance and the value in this field, no sweep transactions will be processed.

 

To learn more about sweep transactions, see the Sweep CDTs help page.

 

This field cannot be used with club accounts (the Club Account field on the Deposits > Account Information > Account Information screen must be left blank). Overdraft features can be adjusted for individual customer accounts on the Deposits > Account Information > Overdraft & Secured Loans screen. For the transaction, institution, and CIM GOLD features that pertain to the use of the overdraft feature, see the Overdrafting Conditions and Options help page. In order to use the overdraft function on a customer account, the Overdraft field on the Account Information screen must be marked.

 

Transactions can take the customer account below this minimum balance with a GOLDTeller supervisor override. Overrides are set up for your institution on the Deposits > Definitions > Transaction Options screen and applied to customer accounts on the Deposits > Definitions > Hold Code Definitions screen.