sweep account

Definition

A brokerage account whose cash balance is automatically transferred into an interest-bearing investment, such as a money market fund.

Use sweep account in a sentence

I had a sweep account and I had to figure out how to handle it,which could take a lot of time.

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The sweep account was intelligently set up so we were earning interest whenever possible as we did not want to miss an opportunity to earn.

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The promotion, that Michael received, brought with it the added responsibility and trust of managing the company sweep account, along with leading a large team of sales managers.

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Swedish Krona sweep-to-fill order