Electronic Transfers (Sweeps)
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Increase Your Money’s Earning Power

Put idle cash to work, earning your business a greater return when compared to no interest checking accounts. With the sweeps feature of our Working Capital Management Account® (WCMA® account), available cash is automatically swept into money fund accounts. You can even transfer funds automatically from external accounts to your WCMA® account.

  • Increase your earning power by automatically investing excess daily cash balances
  • Choose to invest excess funds in short-, intermediate- or long-term investments

Electronic Transfers (Sweeps) Features

Cash Concentrator
Cash Concentrator enables you to automate the movement of funds residing in external bank accounts to your Merrill Lynch WCMA® account. Move funds two ways: fixed amounts at periodic intervals or via Merrill Lynch Information ExchangeSM with instructions kept in the Business Center.

Money Funds1
Choose from a variety of investment options for sweep funds, including four Merrill Lynch WCMA® money funds 1. Three provide for current income, capital preservation and liquidity (WCMA® Money Fund, WCMA® Government Securities Fund and WCMA® Treasury Fund). The fourth, WCMA® Tax-Exempt Fund, offers the same investment goals, but income is exempt from federal income tax.

1 For a current prospectus of Merrill Lynch money funds, which contains more complete information, please call your Financial Advisor. Before investing consider the investment objectives, risks and charges, and expenses of the fund. Investments in the money market funds are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the funds seek to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the funds.

Frequently Asked Questions About Electronic Transfers (Sweeps)

How does automatic sweep work?
Funds from your WCMA® account are automatically applied to any of your outstanding loan balances, reducing interest expense. If there is no loan balance, funds are made available for disbursements. Otherwise, they are automatically swept into money fund accounts and then can be used for your choice of short-, immediate- or long-term investments.

 

What is Cash Concentrator?
Cash Concentrator, a feature of Merrill Lynch Business Center, enables you to automate the movement of funds residing in your external bank accounts to your enrolled WCMA® account. You can transfer funds in two ways:

  • Via a fixed amount (e.g., $1,000) at periodic intervals (daily, weekly or monthly).
  • Via Merrill Lynch Information Exchange and instructions created in the Business Center. If your bank participates in Data Exchange, you can transfer funds on a periodic basis by creating instructions in the Business Center, which are based on available balances from your bank account. For example, you can keep a minimum balance in the bank account or sweep all available funds into your WCMA® account. With cash concentration, you can require transactions to be approved before they are released, or you can elect to have them automatically released.

When transferring funds from my external bank accounts into my WCMA® account, can I specify a specific dollar amount?
Yes, you can indicate a fixed-dollar amount, a dollar amount over the available balance, or a percentage of the available balance to be swept from your external bank account to your enrolled WCMA® account.

1 For a current prospectus of Merrill Lynch money funds, which contains more complete information, please call your Financial Advisor. Before investing consider the investment objectives, risks and charges, and expenses of the fund. Investments in the money market funds are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the funds seek to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the funds.

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For more information call at 1.866.4ML-BUSINESS (465-2874) or e-mail us at AskMLBiz@ml.com.

Merrill Lynch, Pierce, Fenner & Smith Incorporated is a registered broker-dealer, not a bank, and the WCMA account is not a bank account. Banking services are provided by licensed banks or by third parties through arrangements with licensed banks. Unless otherwise indicated, investment products are not FDIC-insured, not guaranteed by a bank and may lose value. 

Lockbox Solutions are offered through PNC bank, an independent provider not affiliated with Merrill Lynch.  Merrill Lynch refers lockbox inquiries to PNC Bank and may receive a fee for such a referral. 

The Merrill Lynch Private Sales Referral Network is a service through which Merrill Lynch clients are referred to independent third party investment banking firms.

Working Capital Management Account  and WCMA are registered service marks of Merrill Lynch & Co., Inc.

The WCMA® account is a product of Merrill Lynch, Pierce, Fenner & Smith Incorporated.