MoneyLink!Sweep
Simply determine the maximum amount you wish to keep in your checking account to cover day-to-day bills, incidentals and unexpected expenses. This amount is known as the MoneyLink!Sweep "trigger point." Each night, checks, ACH, wires and other transactions are processed as usual. After all transactions are processed, any extra money in the checking account above the trigger point will be automatically transferred into your money market and will begin earning a competitive market rate. With MoneyLink!Sweep you never have to manually transfer excess money from your checking account into your money market. What happens if you write a big check?If you write a check against your checking account above your established trigger point, when the check is processed, SharePlus will automatically transfer funds from your money market back into your checking account to cover the overdraft AT NO CHARGE. An overdraft transfer notice will be mailed reminding you that your checking account balance is now $0 and that a deposit should be made to cover any additional checks or transactions. Use online banking to transfer funds back into the checking account or call the Customer Care Center at 1 (800) 352-8257.* MoneyLink!Sweep trigger points may be changed at any time, but we do require written instructions. Simply visit a bank branch or fax written instructions to (972)931-6401. To sign up or learn more about MoneyLink!Sweep call 1-800-352-8257 or visit your local SharePlus Federal Bank! *Remember... Money Market Accounts are Federally Regulated, Limited Transaction Accounts, (including overdraft transfers): transfers and withdrawals by preauthorized, automatic telephone, wire or computer transfer are limited to six per statement cycle including check, draft, or debit card. A REG D Excess Transaction Fee of $32 will be charged for each pre-authorized withdrawal, check, draft or debit card withdrawal in excess of six per statement cycle. Unlimited withdrawals in person from your branch; however Saving Excess Withdrawal Fee may apply. Customers will be allowed three months of REG D Excess Transactions within a twelve month period. Further violation will result in the closing of the account. If you have any questions about transaction limits on money market accounts please call us at 1-800-352-8257 or visit your local branch. |
