Investors are always searching for a safe haven for their cash with easy access to their funds. Financial Advisors want a simplified cash sweep account that offers competitive rates and FDIC insurance. EZLink satisfies the clients’ needs for safety and liquidity while providing the Financial Advisor with an innovative program to attract new clients and assets.

Key Features:

• Enhanced FDIC coverage
• Superior yields for large deposits and an opportunity to capitalize on the favorable spread between bank-paid fee income and interest paid out to clients
• The program’s universal potential gives the Financial Advisor the tools to attract new clients and assets
• Client funds are readily available for trading or cash management activities
• Customized tier rates

How it Works

EZLink acts as a record keeper for member banks and interfaces with their back offices on a daily basis. Working in collaboration with a network of financial institutions, EZLink utilizes funds provided by institutional money managers (such as brokerage houses) that are looking for the best available risk-reward opportunities for their clients. EZLink channels cash sweeps through a clearing back or clearing agent which then forwards the cash into savings accounts in individual FDIC insured banks.

Banks do not have to change any business or  settlement procedures. They can have access to all customers’ bank information on a daily or monthly basis.

Banks must send in a file format and a test file for both registrations and transactions. Joining the system takes about 60 days.