The financial innovation of scanning accounts is particularly interesting because it has been stimulated not only by the desire to avoid costly regulations, but also by a change in delivery conditions, in this case technology. Depending on the institution and the investment vehicle, the scanning process is usually determined daily from the current account, while the return of funds can result in delays. With changes to current account rules, some banks are also offering high interest rates on amounts on certain balances. The use of a scanning vehicle as a scanning fund works by making available to the customer the largest volume of interest with minimal personal intervention, by pouring money into a high-rate account at the end of the day. In a scanning program, a bank`s computers analyze the customer`s use of verifiable deposits and scan money on money market deposit accounts. Some companies choose to transfer all their funds to a sweep account if they think the higher profits will offset more than the fees they would have been given if they had left the money in their account. Other companies calculate the approximate amount needed to clean up royalties, and then scan only funds above that amount. “repo sweeps” are for companies that are concerned about the security of the bank. In this contract, funds deposited with the Bank are secured by a portion of the Bank`s outstanding loans. If the bank were to fail, the depositor would receive only the bond holdings and then sell the bonds to get their money back (unless something happens in the interim with bond prices). A scanning account is an account opened with a bank or other financial institution in which funds are automatically managed between a primary investment account and secondary investment accounts. A scanning account combines two or more accounts in a bank or financial institution and moves funds between them in a predetermined manner.

Sweep accounts are useful for managing a constant cash flow between a cash account used for scheduled payments and an investment account that allows cash to get a higher return. Businesses and individuals should keep in mind the cost of scanning accounts, as the benefits from increased returns from non-current account investment vehicles can be offset by the fees charged for the account. Many brokers or banks charge a flat fee, while others charge a percentage of the return. A scanning account is a bank account or brokerage account that automatically transfers, at the end of each business day, amounts above or below a certain level into a higher investment option.