Managing Auto-Transfer Rules Between Your Checking and Treasury Accounts

Auto-sweeps allow you to seamlessly manage cash between your Rho Checking Account and Rho Treasury Account. By setting up transfer rules, you can automate fund movements based on predefined conditions, ensuring you maintain a desired minimum balance in your checking account without manual intervention.

Setting Up Auto-Sweeps

To use the auto-sweep feature, consider the following requirements:

Minimum Checking Account Balance

• Minimum Balance: Set a minimum balance for your checking account. When your account balance drops below this threshold, funds will automatically transfer from your Treasury account to your checking account.

Top-Up Amount

• Minimum Top-Up Amount: The minimum amount to be transferred is $25,000. You can set a higher top-up amount based on your business needs.

How Auto-Sweeps Work

Auto-sweeps are triggered whenever your checking account balance falls below your designated minimum balance. Here's how the process works:

1. Balance Monitoring: The system continuously monitors your checking account balance.
2. Triggering a Sweep: Every day at 8 AM ET, an auto-sweep is initiated if the Cash (Checking) account balance drops below your set minimum.
3. Calculating the Top-Up Amount:
   
   • The amount transferred will be the greater of:
     
     • The minimum top-up amount ($25,000), or
     • The difference is needed to restore your checking account to your minimum balance.
   • If the shortfall exceeds the top-up amount, the transfer amount adjusts to fully restore the minimum balance.

Important Considerations

• Large Transfers: If the shortfall is significant, the top-up amount will adjust to fully restore your minimum balance in a single transfer.
• Critical Payments: For time-sensitive payments like payroll or large purchases, ensure sufficient funds are available in your checking account. Consider making a manual transfer if you need more than your usual top-up amount.

Minimum Balance Requirement: While a $250,000 minimum balance is suggested at signup, maintaining this amount is not required to use Treasury services. If you keep your checking balance below $250,000, you can still manually transfer funds but won't be able to use the auto-sweep feature