Initial Funding – The figure indicated as the initial funding amount on your Cash Advantage – Checking Account ("Checking Account") application will be transferred from your AssetMark Trust Custodial Account ("AssetMark Account") to your Bancorp Checking Account even if a deposit is made from another source.
Automatic Monthly Transfer - On the 15th day of each month (or the first business day thereafter), funds will automatically be transferred to or from your Checking Account according to your current instructions on file as provided on the Cash Advantage account application or as updated thereafter.
Target Minimum Balance is the lowest amount you would like available in your Checking Account after the monthly sweep. If your Checking Account balance is less than your Target Minimum Balance amount, funds will sweep from your linked AssetMark Account to your Checking Account to bring the Checking Account balance up to this minimum.
Target Maximum Balance is the highest amount you would like available in your Checking Account after the monthly sweep. If your Checking Account balance is more than your Target Maximum Balance amount, funds will sweep from your Checking Account to your linked AssetMark Account in order to maintain your designated Target Maximum (optional) balance.
Please note that the transfer of funds may involve the sale of investments or assets which may result in taxable events for you.
To change your Target Minimum Balance or Target Maximum Balance log in to Online Banking and select your Checking Account. Under the Funds Transfer tab, choose “Manage Monthly Target Balances” from the links on the left.
Your automatic monthly transfers and target monthly sweeps will begin after your Checking Account has been funded for the first time.