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Sure Sweep
China Bank recognizes the importance of managing your company’s excess cash as efficiently as possible. Using our China Bank Sure Sweep, your company can automate the pooling of excess funds from several satellite accounts and concentrating them into one mother account for disbursement purposes. This will result in faster and more efficient consolidation of funds as well as a centralized management of company liquidity. As administration of numerous accounts become easier, interest incomes are likewise improved since the mother account usually attracts better rates than the satellite accounts.
Features
  • Ensures that the amounts debited from several source accounts are successfully credited to the corresponding destination account.
  • Accounts involved are limited to and within your company’s accounts only. No subsidiaries or affiliates and definitely no personal accounts involved.
  • Tagging of accounts is done by the company to guarantee that funds are transferred to and from the designated accounts only.
  • Your company can specify the sweeping rules, minimum and maximum amount per transfer, as well as the frequency of transfers (i.e. bi-weekly, weekly, bi-monthly, monthly).
Benefits
  • Faster and more efficient consolidation of funds.
  • Hands-free transfer of funds on both your company’s side and the Bank.
  • Manual preparation of Letter of Authority to Debit/Transfer Funds is eliminated.
  • Greater security as accounts involved are within the company.
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