Sweep Account
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Sweep Account
A sweep account is an account set up at a bank A bank is a financial institution Financial institutions, otherwise known as banking institutions, are corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state ... or other financial institution Financial institutions, otherwise known as banking institutions, are corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity ... where the fundsFunding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money Image:National-Debt-Gillray.jpeg, In a 1786 James Gillray caricature, the plentiful money bags handed to King George III ... are automatically managed between a primary cash accountIn business practice, cash account refers to a business-to-business or business-to-co ...
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Bank
A bank is a financial institution Financial institutions, otherwise known as banking institutions, are corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity ... that accepts deposits A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, Transaction account#Current accounts, current accounts or any of several other ... from the public and creates a demand deposit Demand deposits or non-confidential money are funds held in demand account In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given period of time. The relationship between ... while simultaneously making loans. Lending In finance, a loan is the lending of money by one or more individuals, organizat ...
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