How it Works


Sweeps and Target Balance 
Overdraft Process
Manual Transfers
Wire Transfers
Aggregator Services
TotalCash® Manager (TCM)
Client Online Access
Client Online Statements
Deposit and Withdraw Options

 

Sweeps and Target Balance

Funds will be swept from SEI to fund your client’s CAA on the first business day after it is opened. This will occur regardless of whether additional deposits or instructions are included with the 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 monthly sweep will take place on the 20th of each month (or the first business day thereafter) to reach the Target Minimum (required) or Target Maximum (optional) balance elected on the CAA Application. If a Target Minimum balance for the CAA is not designated, it will be set at $5,000. Designating a Target Maximum is optional.  Target Minimums and Maximums (can be adjusted at any time.  To change a Target Minimum or Maximum, please complete the Target Balance Change Form .

The automatic sweep to the CAA will be satisfied from the linked SEI Private Trust Company (SPTC) account in the following order:

  1. Money Market assets in the linked SPTC account (excludes DCA, Asset Transit and Client Directed Portfolios)
  2. Additional assets (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 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.
  • Contact your Financial Professional for details regarding how cash will be raised for your specific account.

The automatic sweep to the linked SPTC account from the CAA will be credited in the following manner:

Standard Account with One Portfolio

Standard Managed Account with Overlay

Multiple Capital Portfolios

Funds will be credited to the portfolio

Funds will be credited to transitory cash portfolio

Funds will be credited to the portfolio with the largest existing cash position

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Overdraft Process

Checks and bill-pay items presented for payment that exceed the amount of available funds in the CAA will overdraft the account. Payment will be satisfied 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 if the account does not hold sufficient funds.

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

  1. Securities Backed Line of Credit, if applicable
  2. Money Market assets in the linked SPTC account (includes DCA/Holding Money Markets)

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

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Manual Transfers

Manual Transfers offer the capability to move money between the SEI Cash Access Account (CAA) and the linked SEI account outside of the regularly scheduled sweep process. You may find the manual transfer form here.

Manual Transfers take place the morning of each business day.  Manual Transfers to and from the CAA and the linked SEI account must be made from available cash at the time of transfer and no trades will be placed in the linked SEI account to manually transfer funds to the CAA. 

Please Note: If the amount you are requesting to be transferred to a CAA is not cash available, please use the SEI Distribution Form (Non-IRA) to raise cash and transfer funds.

Clients have the capability to initiate a Manual Transfer on the end client website (www.SEICashAccess.com ) under the Funds Transfer tab, verbally to our call center or by utilizing the above referenced form.

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Wire Transfer Agreement and Security Procedures

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

Domestic Wire Transfer Request Form may be found here.

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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 Advisor ID’

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

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TotalCash® Manager (TCM)

TCM gives advisory firms the ability to view the details of their clients’ accounts via an easy-to-use, secure website. Each firm must complete the TCM agreement to designate a company administrator; only one TCM agreement is required per firm. New CAA and SBLOC applications should include the TCM Company ID and firm name in order to be added to the administrator’s user ID. The administrator has the ability to designate additional users within the firm and then assign accounts for users to view.

You can register up to three devices (computer, mobile phone, tablet, etc.) to log on to TCM. As an added security measure, your log-in may prompt an automated text message or phone call with a one-time PIN if you attempt to log in from an unrecognized device. Please ensure your contact information is up to date at all times. You can access your contact information by navigating the TCM website to Administration > Personal Preferences.

TotalCash® Manager (TCM) Agreement 
TotalCash® Manager Reference Manual/User Guide

Log in to TCM: https://tcm.ebanking-services.com

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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 of each month (or the first business day thereafter) funds will automatically be transferred to or from the SEI Cash Checking Account according to the instructions as set forth on the CAA application’s Target Minimum and Target Maximum. 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 online (www.seicashaccess.com) for your clients to move money between their SEI and CAA accounts. A manual transfer from SEI to the CAA will access DCA/Holdings. You may also send in a signed letter of instruction to initiate a manual transfer between SEI and Bancorp for your client.

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
Attn. Deposit Operations
PO Box 15329
Wilmington, DE 19885-5329

Direct Deposit
To request and authorize a direct deposit of funds to a CAA Checking Account, the client must complete the Direct Deposit Form. Forward the completed form to the employer or institution sending the deposit.

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

 

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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, Member FDIC, which is not affiliated with SEI Investment Company or any of its other subsidiaries. © 2009-2016 SEI

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