Frequently Asked Questions

Treasury Management (TM) is a suite of business banking tools that help you manage payments, cash flow, deposits, and financial operations more efficiently. TM services help businesses automate payments, reduce fraud risk, and optimize account balances. 

MyCoVantage Commercial is our new digital banking platform built specifically for business members. It offers a single sign in portal where businesses can access the Treasury Management tools including ACH origination, wire transfer initiation, sweeps, reporting, and more. MyCoVantage Commercial will be accessible to all members beginning February 18, 2026. 

No. Based on in-house records and data, CoVantage has identified a subset of current business members who would benefit from using the new enhanced platform, which includes the new Treasury Management products. These members will be contacted about migrating to MyCoVantage Commercial. Other current business members—as well as new members who join CoVantage—will also have the opportunity to enroll if they choose. 

Launching in late 2026: 

• Positive Pay (ACH + Check Payee Verification) 

• Commercial Bill Pay for Accounts Payable + Accounts Receivable automation 

Yes. Pricing varies by service and may include: 

• Module fees (ACH, Wires, Reporting) 

• Peritem ACH costs 

• Sweep account monthly fees 

• Business RDC monthly fee ($50) 

You may offset some fees using Earnings Credit depending on your account type. 

Some business checking accounts will be transitioned into new categories—Small Business, Business, and Commercial—based on balances and transaction volumes. 
Public Funds and NotforProfit accounts will not change. The timing of these changes has not been determined, but you will be notified in advance of any changes to your account.  

A sweep automatically transfers funds between linked accounts at the end of each business day to maintain a target balance or reduce borrowing costs. 

Types include: Investment Sweep, Line of Credit Sweep, Three‑Way Sweep, Zero Balance Account (ZBA), and Threshold Balance Account (TBA). 

Sweeps help businesses: 

• Avoid overdrafts 

• Reduce interest expense 

• Reduce manual fund transfers 

• Maximize dividend earnings 

• Simplify cash‑flow management across multiple accounts

An Investment Sweep links a checking account to a money market account. 

• Balance below threshold → funds sweep into checking from money market. 

• Balance above threshold → excess funds sweep into the money market. 

A Line of Credit (LOC) Sweep manages borrowing automatically. 

• Balance below threshold → funds advance from the LOC into checking. 

• Balance above threshold → excess funds pay down the LOC. This helps minimize interest expense and prevents overdrawn accounts. 

This is a more advanced sweep linking: 

• Checking 

• Money Market 

• Line of Credit 

How it works: 

• If checking is below threshold → sweep first from money market; if insufficient, pull from LOC. 

• If checking is above threshold → sweep first to pay down LOC; any remaining excess goes to money market. 

Designed for businesses with more complex cashflow structures.

A ZBA keeps one account (usually a subsidiary operating account) at exactly $0.00 at day’s end. 

• Deficits are funded from the master account 

• Surpluses are swept back to the master 

Ideal for companies with multiple departments or locations. 

Similar to a ZBA but the target balance is greater than $0. 
Used when businesses want a fixed working balance for a particular account each day.