Sweeps and Target Balance 
Overdraft Process
Manual Transfers
Wire Transfers
Aggregator Services
Client Online Access
Client Online Statements
Deposit and Withdraw Options

Sweeps and Target Balance

Starting the first business day after the SEI Cash Access Account ("CAA") is opened, and subsequently on the 20th day of each month (of the first business day thereafter), funds will automatically be transferred to or from the CAA according to the instructions provided in the deposit application. This will occur regardless of whether additional deposits or instructions are included with the deposit application. Please note that checks sent in within the first 30 days of account opening may be subject to extended holds.  We encourage the initial account funding to follow our standard process.

The Target Minimum Balance is the lowest amount your client would like available in the CAA after the monthly sweep. If the CAA balance is less than the Target Minimum amount, we will sweep funds from the linked SEI Private Trust Company (SPTC) account to the CAA to bring the CAA balance up to this minimum. If a Target Minimum Balance for the CAA is not designated, it will be set at $5,000.

Clients have the option to select a Target Minimum Balance Strategy.  By selecting a strategy for their linked SPTC account, they are overriding the Default Process.  To meet the Target Minimum Balance, funds will be pulled using the selected strategy - unless there are no assets remaining.  Pledged SPTC accounts, including those pledged to SBLOCs, are not eligible for specific strategy selection.  If no strategy is selected, the Default Process will be used.  

The Target Maximum Balance is the highest amount your client would like available in the CAA after the monthly sweep. If the CAA balance is more than the Target Maximum amount, we will sweep funds from the CAA to the linked SPTC account to bring the CAA balance down to that maximum.  Target Maximum elections are optional. 

Clients have the option to select a Target Maximum Balance Strategy. By selecting a strategy for their linked SPTC account, they are overriding the Default Process.  To meet the Target Maximum Balance, funds will be pushed to the linked SPTC account.  If no strategy is selected, the Default Process will be used. 

Target Minimum and Maximum (optional) Balance(s) can be adjusted at any time.  To change a Target Minimum or Maximum, please complete the Target Balance Change Form .

Defaut Process:

The automatic sweep to the SEI CAA will be satisfied from the linked SPTC account in the following order:

1. Cash & equivalents in the linked SPTC account (excludes DCA, Asset Transit and Client Directed Portfolios).
2. Additional assets will be sold if there is not enough available cash (collected using the default raise cash method on the linked SPTC account).

Please note:

• Non-mutual fund assets (i.e., stocks and bonds) with allocations in a strategy may be liquidated to satisfy the automatic target balance.
• When an SPTC account has multiple portfolios, the portfolio with a strategy assigned to it will be accessed to raise cash. If no strategy exists, cash will be raised via the default non-strategy raise cash method. In both instances, the portfolio with the highest market value will be accessed.
• DCA, Asset Transit and Client Directed Portfolios are excluded from the monthly sweep.

Overdraft Process

Checks and bill-pay items presented for payment that exceed the amount of available funds in the CAA will overdraft the account. Bank will attempt to satisfy payment as described below. ATM withdrawals, debit card point-of-sale purchases, outgoing wire transfer requests and outgoing ACH transfer requests will not overdraft CAA accounts, as they will be declined at the time they are requested or, if applicable, on the settlement date, if the account does not hold sufficient available funds.

Overdrafts on the SEI CAA will be satisfied from your client’s various accounts in the following order:

1. Securities-Backed Line of Credit, if applicable
2. Cash & Equivalents in the linked SPTC account (includes Holding Money Markets, excludes DCA)

Please note that mutual funds or other assets held at SEI will not be liquidated to satisfy an overdraft.

Return to Top

 
Manual Transfers

Manual transfers offer clients the capability to move money between the SEI Cash Access Account (CAA) with The Bancorp Bank, N.A. and the linked account with SEI Private Trust Company (SPTC) outside of the regularly scheduled sweep process. 

Manual transfers initiated by clients take place the morning of each business day.  Manual transfers to and from the CAA and the SPTC linked account must be made from available cash at the time of transfer and no trades will be placed at SPTC to manually transfer funds to the CAA. 

Clients have the capability to initiate a manual transfer on the end client website (www.SEICashAccess.com) under the Funds Transfer tab or verbally to our Client Success team.

Manual transfers requested by the financial professional may be submitted through SEI's Advisor Desktop Actions.

• Use the Disburse Cash Action to send funds from the SEI accounts to CAA.  This includes selection of specific trade instructions if needed.
• Use the Schedule Cash Receipt Action to move cash from CAA to SEI account.  This includes specific investment instructions for receiving SEI account. 

Return to Top

Wire Transfer Agreement and Security Procedures

A completed Wire Agreement is required for all Trust and Entity deposit accounts that expect to send wires. The Agreement is also required for Personal deposit accounts if the client would like to send a wire via telephone request or a 3^rd party will be sending wires on the client’s behalf. Each part of the Wire Agreement captures specific information regarding the client, the account, 3^rd party authorizations, and security via Caller ID and PIN authorizations.

Any trustee or business signer on an account is required to be on the Wire Agreement as an authorized representative if they would like the ability to send wires on behalf of the account.

Please note: Financial professionals are not authorized to send wires on a client's behalf.

Wire Transfer Agreement may be found here.

Return to Top

Aggregation Services for Cash Access Account

SEI and Bancorp have teamed up to provide Cash Access Account (CAA) detail to a number of aggregation services. Currently the CAA information and activity detail may be accessed on the following data vendors:

• Albridge
• dbCams
• Centerpiece
• eMoney

Steps to view your clients’ CAA information and activity detail on eMoney:

1. Log on to the eMoney Advisor website
2. Click on ‘Start’
3. Select ‘Connection Console’
4. Click on ‘Add a Connection’
5. Search for the Source Name: ‘Bancorp – via Direct Feed’
6. Enter in your ‘SEI Complete User ID’

If you are presented with any issues in viewing the information please reach out directly to the data vendor.

Return to Top

Client Online Access 
Clients are able to view all of their transactions online using Online Banking. For an overview of the information available to clients, please click here. For insight into your clients’ accounts, you can use TotalCash Manager (TCM) to view transaction history.  

Client Online Statements 
To learn more on how clients can sign up for online statements, click here.

Deposit and Withdraw Options 
There are many easy ways to deposit money into an SEI Cash Access Account (CAA). Here are the options to fund an account:

Initial (First-Time) Account Funding
On the first business day after an account is opened, we will initially fund the CAA checking account from the linked SPTC account. The transfer amount is the same amount indicated as the Target Minimum on the CAA application. Initial account funding will take place even if a check is sent in for deposit. Please see How Sweeps Work for more information.

Monthly Sweep
On the 20th day of each month (or the first business day thereafter) funds will be automatically transferred to or from the CAA to reach the Target Minimum (required) or Target Maximum (optional) balance elected on the CAA application. Please see How Sweeps Work for more information.

To change a Target Minimum or Target Maximum, please contact us or use the form below.

Target Balance Change Form

Manual Transfers
Manual transfers are available for your clients to move money between their SEI and CAA accounts via online banking (seicashaccess.com). A manual transfer from SEI to the CAA will access DCA/Holdings. To initiate a manual transfer between SEI and Bancorp for your client, you may submit a request through SEI's Advisor Desktop Action.

Wire Transfers
Incoming wires
To wire funds to the CAA Checking Account, contact the Financial Institution sending the wire. You will need the CAA Bank Routing Number (031101114) and the client’s CAA checking account number.

Check/Money Order – Postage-paid, pre-addressed envelopes are available. To request additional envelopes, contact us, or clients can order when logged on to the CAA website under Account Maintenance. You can mail these into:

The Bancorp Bank, N.A.
Attn. Deposit Operations
PO Box 15329
Wilmington, DE 19885-5329

Direct Deposit
To request and authorize a direct deposit of funds into a CAA, contact the employer or institution that will be initiating the transaction.  Clients will need the bank's Routing Number (031101114), the CAA account number, and the type of account (checking or savings).

Credit Card
Clients can fund the CAA Checking Account using a credit card. When logged on to the CAA website, clients should follow the instructions under the Funds Transfer tab.

Credit Card Registration

ATMs
Clients can utilize any deposit-accepting ATM for cash or check deposits. When using another bank’s ATM to make a deposit, the deposit will be credited to the SEI Cash Access Account. The machine accepts deposit envelopes with cash, money orders and checks, plus a receipt is issued with the transaction. Checks must be endorsed with the account name and account number. (Note: not all ATMs accept deposits; Visit www.seicashaccess.com to find an ATM that accepts deposits.

Funds may take up to 5 business days to be credited to the account.

Withdraw Options

There are several ways clients can access their funds.

• Check writing
• ATM withdrawal
• Point-of-Sale purchase (with Visa debit card)
• Automated Clearing House (ACH) payments
• Wire transfers

Return to Top

This SEI Cash Access Account service is made available by SEI Investment Company to its custodial clients. Banking services are provided by The Bancorp Bank, N.A., Member FDIC, which is not affiliated with SEI Investment Company or any of its other subsidiaries. © 2024 SEI