At the end of the day all funds in a non-interest bearing checking account are cleared out and moved into a short-term investment account overnight. At the beginning of the next day, those funds are put back into the regular account for use that day. Such accounts are called:

Question

Quizplus · Accepted Answer

Sweep accounts automatically transfer excess funds into a short-term investment account overnight and return them to the checking account the next day.

At the End of the Day All Funds in a Non-Interest