Bank Accounts

Deposit Sweep Program

Overview
Documents & Resources

How It Works

The Deposit Sweep Program provides clients with the ability to improve their cash liquidity management capabilities
and increase access to additional FDIC insurance coverage on deposits.

Set Target Balance¹

A target balance is set for your checking account. At the end of each business day, we automatically review your checking account balance. If the balance exceeds
the target balance, excess collected funds are
automatically deposited at Program Banks.

Maximize Deposit Insurance²

We maximize your eligibility for deposit insurance by systematically allocating cash across many Program Banks. If the aggregate balance available to be transferred to Program Banks exceeds the
Program Limit, excess funds are swept
to the CNB Deposit Account.

Rate of Return & Participating Banks

Please click here for current interest rate information and a list of participating Program Banks. Visit fdic.gov for more information regarding FDIC insurance coverage.

Additional Program Information

To learn more, call us at (800) 773-7100, Monday through Thursday, 6:00 a.m. to 5:30 p.m., and Friday, 6:00 a.m. to 6:00 p.m. (PT). You can also contact us below or visit one of our local City National locations.

Click here to read the City National Bank® Deposit Sweep Program Disclosure.

Click here for current interest rate information and a list of participating Program Banks.

Features & Benefits

Automatic Transfers

If your checking account falls below the target balance, we automatically transfer available funds held under the Program back to the checking account in the amount needed to restore the target balance.

Combined Statements

Each transfer is listed on your combined monthly checking account and Bank Deposit Sweep statement.

Earn Interest

Interest earned in the Bank Deposit Sweep Program is calculated on a daily basis and paid to your checking account on the first business day of every month.

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1. Minimum transfer amount is $1.00. City National Bank may require a minimum target balance, currently $25,000.

2. Balances held in accounts at Program Banks are FDIC-insured up to applicable limits, but are not covered by SIPC. Please review the City National Bank Deposit Sweep Program Disclosure Document for more information.

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