Sweeps Accounts

Some banks even allow you to earn higher interest rates while you're asleep, with sweeps accounts. If you maintain significant balances in your personal checking accounts, some banks will invest those balances overnight and earn interest on your money. Yes, there are banks that can turn your idle balances to hardworking capital, every night.

Here's how it works: the bank analyzes your accounts for your daily transaction volume, your peg balance needs and more. They'll invest the remaining balance overnight in a high-level investment fund or secure money market portfolio, offering you a flexible and secure investment while generating the best possible overnight returns.

Make sure your banks' sweep account is of the highest-rated Sweep investment options, and administered through Federated Securities Corp.