Sweep Services

With Sweep Protection from Watertown Savings Bank, you can avoid costly overdraft fees by having the funds automatically “swept” from another account if you overdraw your Watertown Savings Bank checking account. Sweep Protection will automatically transfer the exact dollar amount needed from one of your other Watertown Savings Bank accounts to your checking account. A fee will apply for each sweep occurence. Please see our fee and service charge schedule for details.

Balance Maintenance

If you own your own business, a Balance Maintenance account is a worry free way to protect yourself from bouncing checks. Suppose you keep a specific balance in your business account on a daily basis, with Balance Maintenance, any funds that exceed that balance are automatically “swept” from your checking account to an interest bearing savings account. Sound to good to be true? Wait, there’s more. This also works the opposite way as well. Now let’s say that, at the end of the day, you realize that your business account doesn’t have sufficient funds to maintain your specified balance. No problem. With Balance Maintenance, whatever funds you’re lacking will be “swept” back from your interest bearing account to cover your business account. It’s that simple. As long as you reserve enough money to be swept back and forth, you’ll never have to worry about having a check returned.

Regulation D Restrictions