Automated Investment Services

Make better use of your money

Amegy Bank of Texas offers an overnight sweep service that automatically invests any excess funds in your commercial checking account, helping you earn competitive market rates on account balances that otherwise might remain idle.

This automated sweep service links your commercial checking account(s) to an investment account providing a fully automated two-way sweep between accounts. Whether the sweep services are your core investment strategy or a complement to it, be assured that all funds invested in sweeps are available to meet your daily operating needs.

Advantages of a Sweep Account

  • Automated Investing: Your sweep account is fully automated. Commercial checking account activity is posted before the investment is processed, so only the funds in excess of the target balance are transferred into the overnight sweep investment. If your commercial checking account ever falls below the target balance, funds are automatically swept back into your commercial checking account to meet your daily cash needs and bring your account back up to its target balance.

  • Liquidity: Since sweep accounts are overnight investments, you will have access to your funds daily during normal business hours.

  • Yield: The automated sweep investment service provides you the opportunity to earn competitive market rates on excess funds that might otherwise remain idle in your commercial checking account.

  • Investment Options: Your commercial checking account excess balances can be placed into a variety of investment options:

    • Money Market Mutual Funds: The main objective of a money market mutual fund is the stability of the principal. Money market mutual funds seek to maintain a stable net asset value (NAV) of $1.00 per share and consist of short-term securities.

    • Grand Cayman Deposits: Grand Cayman deposits are U.S. dollar-denominated deposits issued by a foreign branch of a U.S. bank. Amegy Bank issues Grand Cayman deposits through its offshore Grand Cayman Islands Banking Center. The Grand Cayman Sweep account requires a $100,000 minimum daily investment balance.

    • Repurchase Agreements: Repurchase Agreements (Repos) are a sale of marketable securities from Amegy Bank of Texas to you, which the bank agrees to repurchase the next day, at the same price plus interest. In effect, a repurchase agreement is a collateralized short-term investment. Amegy Bank of Texas collateralizes in excess of 100% of your investment amount to cover any market fluctuations.

Establishing a Sweep Account

  • Peg Balance: An Amegy Treasury Management Representative will work with you to establish a target balance (peg balance) in your commercial checking account. Based on the peg balance you select, the excess funds over this balance will be invested in our overnight sweep service. By maintaining a peg balance in your commercial checking account, you are able to partially or fully offset your treasury management service fees.

  • Online Reporting: Our AmegyConnect® Balance Reporting Service provides timely and accurate information on your sweep investments allowing you to better manage your daily financial position.

Grand Cayman Deposits are not FDIC insured and may be subject to additional restrictions with respect to liquidity. In addition, deposits in your Grand Cayman Account are payable at our office in the Cayman Islands, which is located at Harbour Place, 5th Floor, 103 South Church Street, George Town, Grand Cayman KY1-1108, Cayman Islands. The Bank will notify you of any change in this location. In the event of liquidation of the Bank, deposits held in the Grand Cayman Account will have lesser preference than deposits held in the United States. Deposits in the Grand Cayman Account may involve investment risk, including cross-border risks and possible loss of principal. The Grand Cayman account is considered a foreign bank account for IRS regulations. Please consult your tax advisor for more information.

Amegy Bank, a division of ZB, N.A. acts as an agent when selling money market mutual funds. Although the funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund. Money market mutual funds are sold by prospectus only. Before investing, you should carefully read the prospectus and consider the fund's investment objectives, risks, charges and expenses.

Investment products offered through Amegy Bank, a division of ZB, N.A. are NOT FDIC insured, are NOT deposits of, or other obligations of, or guaranteed by Amegy Bank, a division of ZB, N.A., its affiliates, or any other bank, and MAY be subject to investment risks, including the possible loss of principal value or amount invested.