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PassPort Max
CapStar Bank’s sweep account service, Passport Max, automates the management of cash, allowing you to always maximize interest income and/or minimize interest expense.
How does this work?
At the end of each business day, after all checks, withdrawals and deposits have been posted, our system automatically determines if there are excess funds in the account or if the account is in need of funds. Excess funds are swept or transferred to an interest bearing repurchase agreement account for investment. Funds are automatically transferred back to your checking account as needed. Anytime the account is short and there are no funds in the investment to move back to cover the shortage, the account can draw on an established line of credit to cover the shortage. When a balance exists on the line of credit, excess funds are used to pay down the line of credit before beginning to invest again.
Passport Max can be used for investment only, line of credit management only or total cash management (investment and line of credit).
Need more information on our Passport Max service? Please contact one of our treasury management professionals at 615.732.6400, visit us at one of our branches or email us at CapStar@CapStarbank.com.
